Accounting Policies And Standards

Question 1

Accounting policy

Answer 1

Procedures used by a company to prepare its financial statements (kirjanpitomenetelmä)

Question 2

Assets

Answer 2

Things owned by the company (varallisuus,varat,omaisuus)

Question 3

Bondholder

Answer 3

A person owning a bond or bonds issued by a government or public company (velkakirjanhaltija)

Question 4

Consistency principle

Answer 4

A principle which assumes a company to use one accounting method in a consistent manner (johdonmukaisuuden periaate)

Question 5

Convention

Answer 5

A way in which something is usually done; not written down in law (sovinnaistapa, käytäntö, toimintatapa

Question 6

Depreciation

Answer 6

A reduction in the value of an asset over time (arvonalennus, arvonvähennys)

Question 7

Going concern

Answer 7

A business that is operating and making a profit (jatkuva liiketoiminta, toiminnan jatkuvuus)

Question 8

Historical cost principle

Answer 8

Companies record the original price of assets (alkuperäisen hankintamenon periaate)

Question 9

Inflation accounting

Answer 9

A range of accounting models designed to correct problems arising from historical cost accounting in the presence of high inflation and hyperinflation. (Inflaatiolaskenta)

Question 10

Inventory

Answer 10

A complete list of items such as property, goods in stock, or the contents of a building. (varasto, tavaraluettelo, kalusto)

Question 11

Investor

Answer 11

A person who allocates capital with the expectation of a future financial return. (Sijoittaja)

Question 12

Liability

Answer 12

A thing for which someone is responsible, especially an amount of money owed. (Vastattavaa)

Question 13

Measurement

Answer 13

The action of measuring something; e.g. amount. (Mittaus)

Question 14

Pension payment

Answer 14

A regular payment made during a person’s retirement from an investment fund to which that person or their employer has contributed during their working life. (Eläkemaksu)

Question 15

Provisions

Answer 15

Amounts of money deducted from profits. (Varaukset)

Question 16

Profit

Answer 16

A financial gain; especially the difference between the amount earned and the amount spent inbuying, operating, or producing something. (Tuotto,voitto)

Question 17

Replacement cost

Answer 17

The cost to replace the assets of a company or a property of the same or equal value. (Jälleenhankintakustannus)

Question 18

Shareholder

Answer 18

Individual or institution that owns a share of stock in a public or private company. (Osakkeenomistaja)

Question 19

Tax authorities

Answer 19

A government agency responsible for the intake of government revenue. (Veroviranomaiset)

Question 20

Valuation

Answer 20

An estimation of the worth of something. (Arvio, arviointi)