Accounting Dictionary - Letter T

• Tax: A compulsory payment made by individuals and businesses to the government, often used in financial reporting and accounting.
• Tax accounting: The process of preparing and filing tax returns, often used in financial reporting and accounting.
• Tax audit: An examination of a taxpayer's financial records to ensure compliance with tax laws, often used in financial reporting and accounting.
• Tax basis: The value of an asset or liability for tax purposes, often used in financial reporting and accounting.
• Tax benefit: A reduction in tax liability due to a specific tax provision or law, often used in financial reporting and accounting.
• Tax credit: A direct reduction in tax liability, often used in financial reporting and accounting.
• Tax deduction: An expense that can be subtracted from taxable income, often used in financial reporting and accounting.
• Tax deferred: A tax liability that is postponed until a future date, often used in financial reporting and accounting.
• Tax exemption: A provision that exempts certain individuals or businesses from paying taxes, often used in financial reporting and accounting.
• Tax filing: The process of submitting tax returns to the government, often used in financial reporting and accounting.
• Tax law: A law that governs the taxation of individuals and businesses, often used in financial reporting and accounting.
• Tax liability: The amount of taxes owed by an individual or business, often used in financial reporting and accounting.
• Tax planning: The process of minimizing tax liability through various strategies, often used in financial reporting and accounting.
• Tax rate: The percentage of income that is subject to taxation, often used in financial reporting and accounting.
• Tax return: A document that reports an individual's or business's income and tax liability, often used in financial reporting and accounting.
• Tax shelter: A provision that reduces tax liability, often used in financial reporting and accounting.
• Taxable income: The amount of income that is subject to taxation, often used in financial reporting and accounting.
• Taxation: The process of imposing taxes on individuals and businesses, often used in financial reporting and accounting.
• Technical accounting: The application of accounting principles and standards to specific transactions and events, often used in financial reporting and accounting.
• Temporary account: An account that is used to record temporary or one-time transactions, often used in financial reporting and accounting.
• Temporary difference: A difference between the financial reporting and tax basis of an asset or liability, often used in financial reporting and accounting.
• Term loan: A loan that is repaid over a fixed period of time, often used in financial reporting and accounting.
• Term sheet: A document that outlines the terms of a loan or investment, often used in financial reporting and accounting.
• Termination: The end of a contract or agreement, often used in financial reporting and accounting.
• Test of reasonableness: A test used to determine whether a transaction or event is reasonable and justifiable, often used in financial reporting and accounting.
• Theft: The unauthorized taking of assets or property, often used in financial reporting and accounting.
• Third-party audit: An audit conducted by an independent third party, often used in financial reporting and accounting.
• Time value of money: The concept that money received today is worth more than the same amount received in the future, often used in financial reporting and accounting.
• Time-weighted return: A measure of investment performance that takes into account the timing of cash flows, often used in financial reporting and accounting.
• Timing difference: A difference between the financial reporting and tax basis of an asset or liability, often used in financial reporting and accounting.
• Total asset turnover: A ratio that measures a company's ability to generate sales from its assets, often used in financial reporting and accounting.
• Total debt: The total amount of debt owed by a company, often used in financial reporting and accounting.
• Total equity: The total amount of equity owned by shareholders, often used in financial reporting and accounting.
• Total expense: The total amount of expenses incurred by a company, often used in financial reporting and accounting.
• Total income: The total amount of income earned by a company, often used in financial reporting and accounting.
• Total liability: The total amount of liabilities owed by a company, often used in financial reporting and accounting.
• Total revenue: The total amount of revenue earned by a company, often used in financial reporting and accounting.
• Total return: The total return on investment, including dividends and capital gains, often used in financial reporting and accounting.
• Total shareholder return: The total return on investment for shareholders, often used in financial reporting and accounting.
• Trade account: An account that is used to record transactions with suppliers and customers, often used in financial reporting and accounting.
• Trade credit: Credit extended to customers or suppliers, often used in financial reporting and accounting.
• Trade debt: Debt owed to suppliers or customers, often used in financial reporting and accounting.
• Trade discount: A discount offered to customers or suppliers, often used in financial reporting and accounting.
• Trade finance: The financing of international trade, often used in financial reporting and accounting.
• Trade mark: A symbol or logo that identifies a company or product, often used in financial reporting and accounting.
• Trade name: A name used to identify a company or product, often used in financial reporting and accounting.
• Trade payable: An amount owed to suppliers, often used in financial reporting and accounting.
• Trade receivable: An amount owed by customers, often used in financial reporting and accounting.
• Trading account: An account that is used to record transactions related to buying and selling securities, often used in financial reporting and accounting.
• Transaction: A business event or exchange of value, often used in financial reporting and accounting.
• Transaction cost: The cost of buying or selling a security, often used in financial reporting and accounting.
• Transfer: The movement of assets or liabilities from one account to another, often used in financial reporting and accounting.
• Transfer price: The price at which goods or services are transferred between companies, often used in financial reporting and accounting.
• Treasury: The department responsible for managing a company's cash and investments, often used in financial reporting and accounting.
• Treasury bill: A short-term debt instrument issued by the government, often used in financial reporting and accounting.
• Treasury bond: A long-term debt instrument issued by the government, often used in financial reporting and accounting.
• Treasury note: A medium-term debt instrument issued by the government, often used in financial reporting and accounting.
• Treasury stock: Stock that is held by a company for future use, often used in financial reporting and accounting.
• Trial balance: A list of all general ledger accounts and their balances, often used in financial reporting and accounting.
• True and fair view: A concept that requires financial statements to present a true and fair view of a company's financial position and performance, often used in financial reporting and accounting.
• Trust: A fiduciary relationship in which one party holds assets for the benefit of another party, often used in financial reporting and accounting.
• Trust account: An account that is used to hold assets for the benefit of another party, often used in financial reporting and accounting.
• Trustee: A person or organization that holds assets for the benefit of another party, often used in financial reporting and accounting.
• Turnover: The amount of sales or revenue generated by a company, often used in financial reporting and accounting.
• Turnover ratio: A ratio that measures a company's ability to generate sales from its assets, often used in financial reporting and accounting.
• Type of account: A classification of accounts based on their characteristics, often used in financial reporting and accounting.
• Type of asset: A classification of assets based on their characteristics, often used in financial reporting and accounting.
• Type of business: A classification of businesses based on their characteristics, often used in financial reporting and accounting.
• Type of capital: A classification of capital based on its characteristics, often used in financial reporting and accounting.
• Type of debt: A classification of debt based on its characteristics, often used in financial reporting and accounting.
• Type of equity: A classification of equity based on its characteristics, often used in financial reporting and accounting.
• Type of expense: A classification of expenses based on their characteristics, often used in financial reporting and accounting.
• Type of income: A classification of income based on its characteristics, often used in financial reporting and accounting.
• Type of investment: A classification of investments based on their characteristics, often used in financial reporting and accounting.
• Type of liability: A classification of liabilities based on their characteristics, often used in financial reporting and accounting.
• Type of revenue: A classification of revenue based on its characteristics, often used in financial reporting and accounting.
• Type of security: A classification of securities based on their characteristics, often used in financial reporting and accounting.