Top 40 Accounting Acronyms to Know

Top 40 Accounting Acronyms to Know

Top 40 Accounting Acronyms to Know 

It’s true, it can often seem like accountants have their own language. Communicate with your accountant and finance department like a pro with our Top 40 List Accounting Acronyms List. 

1. A&A — Audit and Assurance

2. AR — Accounts Receivable

3. ASU — Accounting Standards Update

4. AP — Accounts Payable

5. ASB — Auditing Standards Board

6. Big 4 — Traditionally, the four largest CPA firms in the world: PwC, Deloitte, EY, and KPMG

7. BV — Business Valuation

8. CPA — Certified Public Accountant

9. CAQ — Center for Audit Quality

10. CFO — Chief Financial Officer

11. COO — Chief Operating Officer

12. COGS — Cost of Goods Sold

13. C2B — Consumer—to—business

14. CPU — Cost per Unit

15. CR  — Credit

16. DR — Debit

17. ERP — Enterprise Resource Planning

18. FASB — Financial Accounting Standards Board

19. FinREC — Financial Reporting Executive Committee

20. GL — General Ledger

21. GAAP — Generally Accepted Accounting Principles

22. GAAS — Generally Accepted Auditing Standards

23. GP — Gross Profit

24. IPO — Initial Public Offering

25. IASB —  International Accounting Standards Board

26. IFRS  — International Financial Reporting Standards

27. LOR — Letters of Response  — Peer Review

28. LLC — Limited Liability Company

29. PAT — Profit After Tax

30. PBT — Profit Before Tax

31. PR — Purchase Requisition

32. PCC — Private Company Council

33. PRB —  Peer Review Board

34. P&L — Profit and Loss Statement

35. PCAOB — Public Company Accounting Oversight Board

36. PA  — Public Accountant

37. SOC — Service Organization Control

38. SEC — Securities and Exchange Commission

39. SOX — Sarbanes—Oxley

40. VAT — Value—Added Tax

By | 2017-06-23T13:49:57+00:00 June 23rd, 2017|Categories: Blog|Tags: , |0 Comments

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