Accounting Glossary

Hi, I’m a student from Ahuntsic College in Montreal Canada. I’m studying business management. It’s a great pre-university program where you can study economy, accounting and marketing. I choose this program because later, I want to be maybe an accountant or a businessman. There is some vocabulary words from accounting.

Account
Definition: An amount of money deposited with a bank, as in a checking or savings account

Accountant
Definition: A person whose profession is inspecting and auditing personal or commercial accounts.

Accounting
Definition: The theory and system of setting up, maintaining, and auditing the books of a firm; art of analyzing the financial position and operating results of a business house from a study of its sales, purchases, overhead, etc.

Associate
Definition: A person who shares actively in anything as a business, enterprise, or undertaking; partner; colleague; fellow worker:

Balance sheet
Definition: A statement of the financial position of a business on a specified date.

Budget
Definition: A plan of operations based on such an estimate.

Business
Definition: A person, partnership, or corporation engaged in commerce, manufacturing, or a service; profit-seeking enterprise or concern.

Calculator
Definition: Also called calculating machine. a small electronic or mechanical device that performs calculations, requiring manual action for each individual opertion.

Cost
Definition: The price paid to acquire, produce, accomplish, or maintain anything.

Finance
Definition: The management of revenues; the conduct or transaction of money matters generally, especially those affecting the public, as in the fields of banking and investment.

Fund
Definition: An organization created to administer or manage a fund, as of money invested or contributed for some special purpose.

Management
Definition: The person or persons controlling and directing the affairs of a business, institution, etc.

Order
Definition: A quantity of goods or items purchased or sold

Product
Definition: A thing produced by labor.

Value
Definition: The worth of something in terms of the amount of other things for which it can be exchanged or in terms of some medium of exchange.

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Target's adventure in Canada

Hi, I’m a student from Ahuntsic College in Montreal Canada. I’m studying business management. It’s a great pre-university program where you can study economy, accounting and marketing. I choose this program because later, I want to be maybe an accountant or a businessman. Today, I will explain you Target’s history in Canada.

 First, Target is an American retailer that operates large retail across North America. Target offers a multitude of goods and it is the second largest discount retailer in the United States behind Wal-Mart. It was found by George Dayton in 1902, in Minnesota. At this time, the retailer was called Goodfellow Dry Goods and not Target. It’s from 1962 that we know this retailer as Target. 

In January 2011, Target announced that he wanted to take over the old Zellers places to enter the Canadian market. Zellers closed all his shop in Canada because he went bankrupt. So, Target opened quickly 133 shops in 2013. Sadly, in early 2015, Target closed all his shop in Canada as quick as he opened them. At the beginning of his adventure in Canada, Target envisaged a quick profitability by the end of the first year. But, after two years, they realized that they will be profitable only by the end of 2021. So, with all the concurrence in Canada, with among others Wal-mart, Sears, Loblaw’s, Metro and Sobeys, and their poor profitability, they decide after only two years to all the Targets in Canada. Target declared that one the main reason that they won’t be able to make profit quickly in Canada is because their quick opening in Canada would have hurt their reputation. Their adventure in Canada cost them more than 2G$ and they leave 17600 employee without a job.    

Reference:

http://m.radio-canada.ca/regions/ontario/2015/04/11/004-target-fermeture.shtml

http://m.radio-canada.ca/nouvelles/economie/2015/03/29/001-fermeture-devancee-target.shtml

Website Description and Walkthrough

Facebook

Hi, today I will show you how to create an accounting group on Facebook. First, let me explain to you what is Facebook. Facebook is a website where you can meet new people and make new friends. You can exchange or share some photos, videos, you can talk to your friends and play games with them or you can share with the world what you are doing right now or which restaurant did you ate last night. Some people want the world know about their private life. This is their decisions but it contain risk. Some people will try to steal your identity. Finally, the best part, you can create a group with people with same interest with you. You will be able to share photos, videos and ideas with those people.

How to use Facebook to create an accounting group.

Step 1

First, you have to create an account on facebook. Go on www.facebook.com and click on 《create new account》 and a sign up page will appear. On this page, it will demand you your first name, your last name, your email, your gender, your birthday and a password. Then, facebook will send you a confirmation email and now you have a facebook account.

Step 2

Next, you have to create a group on facebook. Click on 《create a group》 and name the group. You will later be able to add some people with the same fields of interest with you.

Step 3

Finally, share some photos, videos and ideas with some accountant you added on your group.