The Intuit Firm of the Future blog has published a really nice glossary of accounting terms that reminds us that everyone needs exposure to the bookkeeping basics from time to time.
Key terms like Accounts Payable & Receivable, Bad Debt and Balance Sheet start off the glossary. Petty Cash, Revenue and Trial Balance end the set of definitions. With a dozen or so others in the middle of the list.
It's not an exhaustive or all-inclusive dictionary of accounting, bookkeeping or financial consulting terms, but it gives us pause during the three-minute read to reflect on when such trade-specific vernacular was new to us.
Then we realize, while us oldies may know these terms like the back of our hand, the newbies out there may just be getting acquainted with the real meaning of the nomenclature we use in our firms of the future.
By the way, while you're checking out the glossary, go ahead and click over to the rest of the Firm of the Future blog. You're certain to find a lot of worthwhile content.