This document defines key vocabulary terms related to accounting and business. It defines assets as tangible or intangible property owned by an individual or company. Accounting is defined as studying, measuring, and analyzing a company's financial situation to facilitate decision making and external control. Liabilities are defined as a company's debts reflected on the balance sheet that originate from past financial transactions.

1. VOCABULARIO - VOCABULARY
CONTABILIDAD
José Flórez, Jorge Ayala
ACTIVOS/ (ASSETS)/ an asset is tangible or intangible property owned by a company or individual.
By extension, it is also called asset on a company owns. The active part of the actual accounts or balance.
APORTES/ (CONTRIBUTIONS)/ in its broadest usage, the term refers to that contribution someone
makes another individual or organization. The said contribution may consist of real property, a sum of
money or be a contribution of spiritual or intellectual, artistic.
BANCOS/ (BANKS)/ A bank is a financial company that is responsible for raising funds in the form of
deposits and lending money, and the provision of financial services. The bank or the banking system is
the set of entities or institutions within an economy, providing the service of bank
CAJA/ (BOX )/ box is a small amount of cash money used for expenditures in situations where
disbursements by check are drawbacks due to the cost of writing them, sign them and turn them into cash.
CERTIFICADO/ (CERTIFICATE)/ the certificate are a type of administrative language used for
finding a particular fact. In the process of applying for a job, especially when it is a government
institution, the certificates are essential to demonstrate training and experience.
CUENTAS/ (ACCOUNTS)/ the account is the basic and central to the accounting and payment
services. It is also the minimum accounting unit can summarize an economic fact. The ledger account is
valued in monetary units representing each of the elements of a company's equity (assets, rights and
obligations) and the result of it (income and expenses), allows monitoring the evolution of elements in
time. Therefore, there are many accounts as assets having the company and, consequently, all the
accounts of a company are a complete representation of equity and profit (profit or loss) of the company.
COSTOS/ (COSTS)/ cost is the monetary value of consumption of factors that involve the exercise of
an economic activity for the production of a good or service. Every process of production of a good
involves the consumption or wear a series of productive factors, the concept of cost is closely linked to
sacrifice incurred to produce that good. Any costs associated component of any assessment involves
subjectivity.
CONTABILIDAD/ (ACCOUNTING)/ Accounting is the art that is responsible for studying,
measuring and analyzing equity, economic and financial situation of a company or organization in order
to facilitate decision making within it and the external control, presenting information previously recorded
in a systematic and useful way for the various stakeholders.
DISPONIBLE/ (AVAILABLE)/ Includes accounts recorded resources immediate, full or partial
liquidity available to the economic entity and can be used for general or specific purposes, among which
we mention the hand, deposits in banks and other financial institutions, remittances transit funds
DIFERIDO/( DEFERRED)/ Include all accounts represented in the value of prepaid expenses incurred
by the economic entity in the course of business and such other expenses commonly called deferred
charges, representing goods or services received, which is expected monetize in other future periods

2. VOCABULARIO - VOCABULARY
CONTABILIDAD
José Flórez, Jorge Ayala
DEVOLUCION /(RETURN)/ a return is the process of a customer who has previously purchased
merchandise, returns it to the store, and in return, receive a cash refund, exchange for another item (same
or different), or a store credit. Many retailers accept returns if the customer has a receipt, ticket or receipt
as proof of purchase, and certain conditions, which depend on the policies of the retailer, are met. These
may include that the good is in a certain condition (which may possibly be resold), which has not been
more than a certain amount of time after the purchase was made or that the identification is provided
EFECTIVO / (CASH)/ Cash are an element of balance and is part of current assets. It is the most liquid
element that owns the company, ie, it is the money. The company uses this cash to meet its immediate
obligations
FONDO / (BACKGROUND)/ it is a physical segregation of assets invested in bank deposits or
securities adequate security and adequate productivity.
FACTURA / (INVOICE)/ is a commercial document that reflects all the information in a sales
transaction. The basic information in an invoice must reflect the delivery of a product or providing a
service, together with the date of accrual, besides indicating the amount payable in relation to inventories,
assets held by a company for sale that ordinary farm or for processing or incorporation into the production
process.
GRUPO / (GROUP)/ the account group is a summary of accounts based on criteria that influence how
master records are created.
GASTO / (SPENDING)/ an expense is an expense or outflow of money that a person or company has
to pay for an item or service. For a tenant
INVENTARIO / (INVENTORY)/ an expense is an expense or outflow of money that a person or
company has to pay for an item or service. For a tenant
MERCANCIA / (MERCHANDISE)/ A commodity is all things "that you can sell or buy," the term
usually applies to economic goods
NEGOCIO / (BUSINESS)/ Business is a commercial or social activity that has been thought and you
want to develop. It is a tool that allows us to organize and plan activities that must be performed to
achieve the goals of our cooperative company.
There are several tools to develop business models, defined as the strategy or planting of the factors or
elements that make up the business
PASIVO / (LIABILITIES)/ the liability is debt that the company has, as reflected in the balance sheet
comprises the current obligations company that originate in past financial transactions