Vocabulary

Question 1

Equity

Answer 1

Patrimonio

Question 2

Assets

Answer 2

Activos

Question 3

Liabilities

Answer 3

Pasivos

Question 4

Stock

Answer 4

Inventario

Question 5

The Statemen of Cash Flow

Answer 5

Estado de Flujo de Efectivo

Question 6

The Income Statement

Also known as Profit and Loss account

Answer 6

Estado de Resultados

Question 7

1.

The Statement of Financial Position

Also known as Balance Sheet

Answer 7

Estado de Situación Financiera

Question 8

Trade Receivables

Answer 8

Cuentas por cobrar

Question 9

Trade Payable

Answer 9

Cuentas por Pagar Comerciales

Question 10

Accounting Conventions

Answer 10

Convenciones Contables

Question 11

Accrual Principle

Answer 11

Principio del Devengo

Question 12

Operating Profit

Answer 12

Utilidad Operativa

Question 13

Gross Profit

Answer 13

Utilidad Bruta

Question 14

Profit of the Period

Answer 14

Utilidad Neta

Question 15

First in, First out (FIFO)

Answer 15

Primeras Entradas Primeras Salidas

Question 16

Accounts Receivable

Answer 16

Cuentas por Cobrar

Question 17

Debentures

Answer 17

Obligaciones o Bonos Corporativos

Question 18

Que diferencia hay entre COST y Fair Value

Answer 18

COST: El precio original pagado para obtener un activo
Fair value: El precio actual del activo si lo vendiera hoy a precio de mercado.

El COST no se cambia, mientras que el Fair Value fluctua por el mercado

Question 19

Fixtures and Fittings

Answer 19

Instalaciones y Accesorios

Pertenecen a Non-current Assets

Question 20

Difference between CAPITAL and Share Capital

Answer 20

Capital: Another name for EQUITY
Share Capital: The money that shareholders have invested by purchasing shares

Share Capital is an account inside EQUITY

Question 21

is SHARE PREMIUM the same as PREFERENCE SHARES?

Answer 21

No, Share Premium is the extra amount paid by investors above the nominal/par value of the company’s shares. While Preference Shares are a type of shares.