Seasoned accountants know the abbreviations and lingo of accounting like it’s a second language. But, if you find yourself confused when reading a balance sheet or income statement, it might help to clarify the meanings of common terminology. Keep reading for a list of 50 accounting abbreviations that will clear up any misunderstandings.
General Accounting Abbreviations
Do you know the difference between CUR and CURR? Whether you’re a CPA or a first-time investor, it’s important to know the basics of accounting terms. Get started with a list of general abbreviations for accounting.
- ACCG/ACCT - Accounting
- ADT - Auditing
- BUS/BSN - Business
- CAP - Capital
- CF - Cash Flow
- CFO - Chief Financial Officer
- COO - Chief Operating Officer
- CPA - Certified Public Accountant
- CR - Credit
- CUR - Current
- CURR - Currency
- DR - Debit
- GAAS - General Accepted Accounting Standards
- GL - General Ledger
- K - $1000
- ROI - Return On Investment
- VC - Venture Capital
Income Statement Abbreviations
Reading an income statement correctly is vital for the health of a company. Misinterpreting your profits and losses for a financial period could be disastrous. Make sure you know what you’re making – and spending – with these examples of common accounting abbreviations found in an income statement.
- C+MV - Cost Plus Market Value
- C/S - Cost Sharing
- COGS - Cost of Goods Sold
- COS - Cost of Sales/Services
- CPU - Cost Per Unit
- EBITDA - Earnings Before Interest, Taxes, Depreciation, and Amortization
- EX/EXP - Expense
- F&A - Facilities and Administrative Costs
- FD - Fund
- FE - Fixed Expenses
- GP - Gross Profit
- GM - Gross Margin
- LLC - Limited Liability Company
- NI - Net Income
- OE - Operation Expenses
- P&L - Profit and Loss Statement
- PAT - Profit After Tax
- VE - Variable Expenses
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Balance Sheet Abbreviations
Accountants love getting into the details of a company’s assets, equity, and liabilities. But writing out each word takes up valuable time and space – and accountants don’t love unnecessary expenditures! Check out these abbreviations that you might see in a typical business balance sheet.
- A - Asset
- ACCR - Accrued
- ADJ - Adjustment
- AE - Accrued Expenses
- AR - Accounts Receivable
- AP - Accounts Payable
- BAL SH/BS - Balance Sheet
- BUDG - Budgeted
- CA - Current Assets
- CH/CHG/CHRG - Charge
- CL - Current Liabilities
- COE/Ke - Cost of Equity
- FA - Fixed Assets
- LTL - Long-Term Liabilities
- OE - Owner’s Equity
More Financial Resources
If you can’t get enough of tracking finances, check out more resources to guide you on your fiscal journey. A list of common financial abbreviations can add to your new accounting knowledge. And if you’re ready to make some smart financial decisions this year, read an article that details five practical financial goals that you can start today.
