Accounting - Advanced accrued income (noun phrase) = receita acumulada revenue which is owed but has not yet been received My company is having a problem converting our accrued income into actual cash. after-tax basis (noun) = retorno apés tributagao a view of a sum of money that reflects the effects of taxation On an after-tax basis, tax-free municipal bonds are often more profitable than regular bonds. allowance for bad debts (noun phrase) = provisao para devedores duvidosos a contra account that shows the estimated amount of losses from uncollectible accounts Allowances for bad debts are deducted from accounts receivable. amortization (noun) = amortizagao a method of dividing a sum of money into time periods for the purposes of payment or writing off assets With the amortization schedule for my house mortgage, | pay some interest and some of the principal each month. arm’s-length transaction (noun phrase) = transagao com isengao de interesses a business deal between two unrelated parties who are looking after their own interests Reporting financial information from an arm"s-length transaction Is straightforward because the parties don’t have a personal relationship separate from the business deal. audit report (noun phrase) = relatério da auditoria a document written by an independent certified public accountant that states whether a company's financial statements accurately represent the company's financial information The audit report identified one small error in our annual report, but everything else was accurate. bank reconciliation (noun phrase) = reconeiliacdo bancaria the process of comparing a company's cash balance with the amount reported by the bank If there is a discrepancy between a company’s figures and a bank's figures during bank reconciliation, the company’s accountants must find an explanation. book value (verb phrase) = valor contabil the amount of value assigned to an asset in a company's financial books, usually the original purchase price minus depreciation;in auto insurance, the likely selling price of a car Our company car cost $35,000 two years ago, but its book value is now only $20,000. budgetary variance (noun phrase) = variacdo orgamentaria the difference between the estimated cost of something and the actual amount spent Our CFO was really unhappy because our budgetary variance has been so high. She wants our future estimates to be more accurate.Accounting - Advanced (2) capital asset (noun phrase) = capital ativo any property that can be used to create more property The forest we own is an important capital asset because we get lumber from it. capital budgeting (noun phrase) = orgamento de capital long-term planning that a company does for investing in assets needed to operate the company In our capital budgeting meetings this year, the management team couldn't agree on our long-term equipment and facilties needs. capital gain (noun phrase) = lucro sobre investimentos a profit in the sale of property When my mother sold her house, she had a capital gain of $100,000. capital loss (noun phrase) = perda de capital the sale of an asset at a lower price than for its purchase The company took a big capital loss when it sold its factory at a very low price. cash flow (idiom) = produto ou operagao que gera caixa continuamente the amount of money that a business takes in and spends during a certain period of time To make sure we have a positive cash flow this quarter, we have to spend less than we make. certified public accountant (noun phrase) = perito-contador autorizado CPA; a title granted by a U.S. state to a person who has passed the Uniform Certified Public Accountant Examination and meets other state requirements for the public practice of accountancy My sister is a certified public accountant at a large accounting firm. compound journal entry (noun phrase) = langamento diario composto the recording in the company's journal of a transaction that includes more than one credit and one debit Because our customer paid for 50% of the supplies this week and will pay the rest next week, we had to make a compound journal entry. consolidated balance sheet (noun phrase) = balanco patrimonial consolidado a report that combines financial information for a parent company and all of its subsidiaries Our consolidated balance sheet is extremely complicated because we have three large subsidiaries. contra account (noun phrase) = conta de compensaco an account that offsets another account Sales discounts is a contra account that is deducted from sales revenue on income statements. controllable cost (noun phrase) = custo controtével an expense that can be reduced or increased by a management decision The managers at my company are working to reduce our controllable costs, so employees had to start paying for their own dental insurance.Accounting - Advanced (3) convertible bond (noun) = titulo conversivel a bond that can be exchanged for a predetermined number of shares of stock 1 exchanged my convertible bonds for 4,000 shares of common stock. cost accounting (noun phrase) = contabilidade de custos the process of tracking the various costs of a product or organization We have five employees in our finance department who are responsible for cost accounting. cost basis (noun phrase) = base de custo the actual price that was paid for an asset The cost basis for that factory is $5 milion. cost of goods sold (noun phrase) = custo dos produtos vendidos the amount that a company pays to either buy or manufacture its products The cost of goods sold can vary a great deal depending on where and how products are manufactured. date of record (noun phrase) = data de registro the date that a corporation chooses for identification of the stockholders eligible to receive dividends Having one official date of record is important because the list of stockholders is constantly changing. days sales outstanding (noun phrase) = dias de venda contidos em contas a receber DSO; a measure of a company's efficiency in collecting receivables during a time period; equal to total receivables during the period divided by total sales and multiplied by the number of days in the period Itis a problem for a company when days sales outstanding increases because it is taking the company longer to collect the money it is owed. debentures (noun) = debéntures unsecured bonds, or bonds that do not have any assets pledged as security to back them up I generally do not buy debentures because they are riskier than secured bonds. debt ratio (noun phrase) = indice de endividamento total liabilities divided by total assets A company’s debt ratio is a good measure of the company's amount of debt. debt-to-equity ratio (noun phrase) = coeficiente de endividamento a company's liabilities divided by the value of the company's outstanding shares The company has a debt-to-equity ratio of 3.3, which worried the board of directors. deferred tax (noun phrase) = imposto diferido a charge due in the future on income being earned in the present We just made a $20,000 profit on that deal. We'll have to pay the deferred tax next April.Accounting - Advanced (4) defined benefit plan (noun phrase) = plano de beneficios definido a pension plan in which a company decides how much money retired employees will receive and pays enough into the account for the employees to receive the specified amount The advantage of a defined beneftt plan is that employees know exactly how much money they will receive in retirement. defined contribution plan (noun phrase) = plano de contribuigao definido a pension plan in which a company contributes a set amount to the plan With a defined contribution plan, a retired employee receives the amount that the employer has contributed plus any interest earned. diluted earnings per share (noun phrase) = lucro por ago diluido an earnings-per-share figure that includes stock options that could have been exercised Diluted earnings per share gives a conservative view of future share value because it includes stock options, many of which wil be exercised. direct write-off method (noun phrase) = método direto de baixa contabil de um ativo the recording of uncollectible debts as expenses Using the direct write-off method, we recorded $5,000 of uncollectible debts as expenses. environmental liabilities (noun phrase) = obrigagdes ambientais, cost incurred by companies because of damage they have done to the environment Oil companies can incur environmental labilties because of oil spill. equity securities (noun phrase) = titulos em ages ownership shares of a corporation that are commonly known as "stock" The value of equity secunties can greatly change over time. external auditors (noun phrase) = auditores externos certified public accountants from an independent accounting firm who check a company's financial records for accuracy and compliance with normal accounting procedures In the United States, external auditors must check the financial records of all companies that are publicly traded. extraordinary item (noun phrase) = item extraordinario a gain or loss for a company that is a result of an unusual occurrence Significant losses resulting from a hurricane may be identified as an extraordinary item on financial reports. FIFO (noun phrase) = PEPS (primeiro a entrar, primeiro a sair) first in, first out; an assumption in inventory management in which the oldest items in inventory are the first to be sold Depending on the comparative cost of the newest and oldest items purchased, an accountant can use FIFO to increase or decrease the value of the inventory on paper.Accounting - Advanced (5) financial statement analysis (noun phrase) = analise das demonstragées financeiras the process of evaluating the numbers in financial statements to look for important current and future trends Financial statement analysis can yield extremely important information for a company. fixed asset turnover (noun phrase) = giro do ativo fixo a ratio calculated by dividing sales by property, plant, and equipment Calculating fixed asset turnover can help a company see whether or not it has too many fixed assets, such as property or buildings. fixed costs (noun phrase) = custos fixos expenses that do not change in proportion to the business activity of a company As sales of our computers increased, our rent and other fixed costs remained stable, Which really helped our profits. FOB destination (noun phrase) = destino FOB (livre a bordo) free-on-board destination; an agreement that the shipper of goods pays for the shipping and is responsible for the goods during shipment FOB destination means that the company receiving goods is not responsible for the goods until they arrive. FOB shipping point (noun phrase) = ponto de embarque FOB (livre a bordo) free-on-board shipping point; an agreement that the buyer of goods pays for the shipping and is responsible for the goods during shipment Shippers prefer FOB shipping point because they are not responsible for damages that may occur during shipping. going concern assumption (noun phrase) = suposigao de uma empresa em funcionamento normal the concept that a business will continue to exist in the future The going concern assumption allows accountants to work with a stable financial situation. goodwill (noun) = ativo intangivel, valor subjetivo, diferenca entre o valor contabil e o valor pago pelo negdcio an intangible factor that adds value to an asset Goodwill can include a company’s good reputation and quality customer service. gross income (noun phrase) = renda bruta all of the revenues of a business before any taxes or expenditures are paid Our gross income is very good, but after we pay our expenses there isn't much left over. historical cost (noun phrase) = custo histérico the monetary amount actually paid for something on the transaction date The historical cost of the factory was $3 milion, but it's worth much more than that now.Accounting - Advanced (6) impairment (noun) = deterioragao an event in which a long-term asset declines in value Our DVD players have suffered an impairment because a competitor developed a cheaper, higher-quality player. income smoothing (noun phrase) = manipulagao dos resultados com o intuit de apresentar uma tendéncia estavel de lucros the practice of recognizing revenue and expenses at times that will even out the annual earnings of a company Income smoothing can make a company appear more stable than it really is. income tax (noun phrase) = imposto de renda a tax on the revenues of a person or a company Thad to pay almost $5,000 in income tax this year. independent checks (noun phrase) = verificagdes independentes internal reviews that a company carries out to evaluate its accounting policies and procedures ‘Our company's auditors perform independent checks to make sure we are following appropriate accounting procedures. intangible asset (noun phrase) = ativo intangivel a non-physical thing of value that a company owns We have many intangible assets in this company, including 14 patents and our trademark. internal auditors (noun phrase) = auditores internos certified public accountants who work independently within a company to check financial records for accuracy and compliance with normal accounting procedures Our internal auditors review all financial documents for accuracy. internal control structure (noun phrase) = estrutura de controle interno the system of policies and procedures that a company establishes to safeguard assets and records and to comply with anti-fraud legislation A company’s internal control structure helps it comply with legislation such as America's Foreign Corrupt Practices Act. internal earnings targets (noun phrase) = metas de luoro internas the financial goals inside a company that are established for employees Sales quotas are internal earnings targets that companies use. inventory shrinkage (noun phrase) = diminuigao nos estoques a measurement of stored products or supplies that are lost, damaged, or stolen in a time period Inventory shrinkage is determined by comparing the records of what is supposed to be in inventory to a physical count of what is actually present. inventory turnover (noun phrase) = movimentagao de estoque the rate at which supplies of goods are replaced We have a low inventory turnover, so we shouldn't store so many goods in our warehouse.Accounting - Advanced (7) lessee (noun) = locatario, arrendatario the party that receives the right to use an asset in the terms of a lease When we signed the building lease, we became the lessee. lessor (noun) = locador, arrendador the party that grants the right to use an asset in the terms of a lease The auto dealership will be the lessor of the company cars for our executives and will receive $300 per month per car. leverage (noun) = alavancagem to use assets effectively to gain money The company used its strong market position to leverage more investment. LIFO (noun phrase) = UEPS (Liltimo a entrar, primeiro a sair) last in, first out; an assumption in inventory management in which the newest items in inventory are the first to be sold Inventory assumptions like LIFO are useful because they allow accountants to avoid having to determine which specific items have actually been sold. limited liability (noun phrase) = responsabilidade limitada a legal concept in which an investor is responsible for the debts of a corporation only up to the amount he or she has actually invested With limited lability, an investor's personal assets are not at risk because of a corporation's debts. liquid (adjective) = liquido used to describe an asset that is easy to convert into cash Gold is a liquid asset because itis very easy to sell. liquidity (noun) = liquidez the ability to convert assets into cash quickly The liquidity of many of their assets makes it easy for them to pay off their debts. long-term liability (noun phrase) = divida de longo prazo debts of a business that are due in more than one year ‘Our company has about $5 millon of long-term liabilities. long-term operating asset (noun phrase) = ativo operacional de longo prazo assets like buildings and equipment that will be used for many years to support the basic operations of a company Our factory is a long-term operating asset. lower-of-cost-or-market rule (noun phrase) = método de valorizagao do estoque que compara o custo original e o valor de mercado dos itens escolhendo o menor dos dois a method of valuing inventory by looking at original cost and market value of items and choosing the lower of the two Using the lower-of-cost-or-market rule, a company can avoid inflating the value of its inventory. market rate of interest (noun phrase) = taxa de juro do mercado yield on a debt instrument as calculated from the purchase price The market rate of interest for that bond is 5%.Accounting - Advanced (8) matching principle (noun phrase) = principio de confrontagao the idea that revenues and their related expenses must be recorded in the same reporting period The matching principle makes it easy to look at related costs and revenues to get an idea of how much specific projects cost. monetary measurement (noun phrase) = medida monetaria the concept that only activities that are measured in money can be included in accounting Monetary measurement does not include abstract concepts, such as the job satisfaction of a company's employees net asset value (noun phrase) = valor liquido do ativo the market value of a company's assets minus all liabilities That company has a net asset value of over $10 milion net income (noun phrase) = renda liquida the revenue that a company has after subtracting all costs and expenses Our net income for last year was only $250,000. net purchases (noun phrase) = compras liquidas the cost of inventory purchased during a period after adding the cost of shipping and subtracting discounts and returns Our net purchases last month totaled $120,000. net realizable value of accounts receivable (noun phrase) = valor realizavel liquido das contas a receber total accounts receivable minus the allowance for bad debts The net realizable value of accounts receivable is the estimate of how much of the outstanding accounts receivable can actually be collected. notes to the financial statements (noun phrase) = notas explicativas aos demonstrativos financeiros pages added to financial reports that provide necessary additional information Financial reports for multinational corporations have notes to the financial statements explaining how they deal with amounts in foreign currencies. operating expense (noun phrase) = despesa operacional a cost associated with the day-to-day running of a business Salaries, rent, and utilties are big components of a company's operating expenses. operating profit (noun phrase) = lucro operacional the amount that is left when a company subtracts expenses from revenues Last year, our operating profit increased so we were able to invest more in development. other revenues and liabilities (noun phrase) = outras receitas e despesas income or costs that come from transactions that are outside the normal business of a company An automobile manufacturer sold some unused land and recorded the profit as other revenues and liabilities.Accounting - Advanced (9) par value (noun phrase) = valor nominal the value imprinted on a security The par value of a stock has no relation to its actual market value. periodic inventory system (noun phrase) = contagem periddica de estoques a system in which a business counts the products it has available for sale at set intervals rather than continually In small businesses, a periodic inventory system makes sense because taking inventory continually would take too much time and might delay sales. post-closing trial balance (noun phrase) = balango de verificagao pés-fechamento a process after nominal accounts have been closed in which debits and credits are added and a balance calculated to see whether total debits equal total credits The post-closing trial balance step is a very important error-checking point in the accounting process. postemployment benefits (noun phrase) = beneficios pés-admissao Any benefit paid to an employee after the employee's termination with the company. For postemployment benefits, it's common for companies to pay a severance package that includes several weeks' pay. property, plant, and equipment (noun phrase) = iméveis, plantas e equipamentos tangible, long-term assets used in operating a business Land, buildings, and machinery are important components of property, plant, and equipment. proprietorship (noun) = direito de propriedade a company that is owned solely by one person Corporations have certain tax advantages, but proprietorships allow a person to maintain complete control over the company. retained earnings (noun phrase) = lucros retidos the part of earnings that a corporation does not distribute as dividends to shareholders The executive team decided to invest $3 milion of the company's retained earnings. return on investment (noun phrase) = retorno de investimento ROI; the amount of profit or loss in any investment The company needs to do well because the investors expect a good return on their investment by the end of the year. return on sales (noun phrase) = retorno sobre as vendas a ratio calculated by dividing net income (before interest and tax) by total sales; used to evaluate operational efficiency Return on sales shows companies how much profit they earn for every dollar of sales.Accounting - Advanced (10) revenue-recognition principle (noun phrase) = principio contabil de reconhecimento da receita an accounting principle that specifies the conditions under which income is realized as revenue The revenue-recognition principle allows companies to record income when the work for the revenue is mostly finished and the amount of revenue is measurable. sales tax (noun phrase) = imposto sobre vendas a tax by a government on the retail price of an item or certain services that a company collects from customers and then gives to government entities In some countries, sales tax adds a significant amount to the cost of goods. salvage value (noun phrase) = valor residual What an asset is worth at the end of its useful life The salvage value of our oldest trucks is about $2,000 per vehicle. segregation of duties (noun phrase) = segregacao de fungdes the distribution of major accounting responsibilities among different people as a security precaution In most companies, segregation of duties means that record keeping, controlling assets, and authorizing transactions are never done by the same person straight-line depreciation method (noun phrase) = método de depreciagao em linha reta a method of writing off an asset's expense that assigns the cost of the asset equally to the periods of the asset's useful life The straight-line depreciation method is the simplest method for writing off an asset's value time value of money (noun phrase) = valor do dinheiro no tempo the idea that money received now is worth more than money received at a future date The time value of money concept is based on the idea that the sooner people receive and invest money, the more it will be worth in the future. time-period concept (noun phrase) = conceito de periodo de tempo the concept that the financial part of a business is divided chronologically into reasonably short sections known as fiscal periods that are of equal length and are used to measure the financial progress of a business The time-period concept enables companies to report financial information before it becomes outdated or irrelevant. trading securities (noun phrase) = titulos comercializaveis no curto prazo stocks and bonds that are bought for short-term gains or to provide a liquid source of cash Many companies buy trading securities in order to make some profit and to have an easy source of cash. treasury stock (noun phrase) = agdes mantidas em tesouraria company shares that were issued but then repurchased by the issuing company A company may buy and hold treasury stock if it wants to raise the price of outstanding shares.Accounting - Advanced (11) unearned revenue (noun phrase) = receitas no realizadas money that is received before the service or product has been delivered The $10,000 deposit that the customer paid on the property is unearned revenue. units-of-production method (noun phrase) = método de unidades de produgéo a method of writing off an asset's expense that assigns the cost of the asset to the periods of the asset's useful life based on its output during each period The units-of- production method is often used to determine the depreciation of assets like automobiles, which may be used more during some periods than others. unrealized gains and losses (noun phrase) = ganhos e perdas nao realizados increases or decreases in the value of securities that are being held, rather than sold Unrealized gains and losses are tracked in a special account because only realized gains and losses count for tax purposes. unrecorded liabilities (noun phrase) = dividas nao registradas expenses that have been incurred but not recorded in the journel or ledger during that period Because of a last-minute change in the contract with that company, we have some unrecorded liabilties. unrecorded receivables (noun phrase) = contas a receber nao registradas revenues which have been earned but not recorded in the journal or ledger during a period We had some large unrecorded receivables, so our owners' equity increased. variable cost (noun phrase) = custo variavel an expense that changes with the level of business activity There is a variable cost for raw materials because a company pays more when production increases. withholding tax (noun phrase) = imposto retido na fonte a sum of money that a company takes from a worker's paycheck to cover future tax payments to the government About 20 percent of my paycheck goes to the withholding tax. work in process (noun phrase) = produtos em processamento products under production that are only partially completed We always have a great deal of work in process on our production lines.