Compt Account

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Accounting GlossaryEnglish | Inuktitut | French

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Glossaire de la comptabilitAnglais | Inuktitut | Franais

Marja Korhonen

Nunavut Arctic College, Nunatta Campus (Iqaluit, Nunavut), , Collge de lArctique, Campus Nunatta, Iqaluit (Nunavut)


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1996 Edition

Accounting GlossaryGlossaire de la comptabilit

Funding provided by Secretary of State, Canada, under the Co-operation Agreement forFrench & Aboriginal Languages in the Northwest Territories.

, . .

Les fonds ncessaires la ralisation de cet ouvrage ont t fournis par le Secrtariatdtat du Canada, par le biais de lEntente de coopration portant sur le franais etles langues autochtones dans les Territoires du Nord-Ouest.

Copyright 1996 by Arctic College. All rights reserved.

1996

Droits dauteur 1996. Collge de lArctique. Tous droits rservs.

ISBN: 1 896204-14-7

: 1 896204-14-7

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Preface

This glossary is one in a series which was produced by the Interpreter/TranslatorProgram at Arctic College, Nunatta Campus. It contains a trilingual list of technicalterms with simplified English definitions which we believe will be a useful tool for I/Ts

working in specialty areas.We would like to take this opportunity to thank Marja Korhonen for writing this text,and to all the students and staff of the program who contributed to making thispublication a reality. Thanks are due to Makee Kakkik, Josie Arreak, JoannasieAkumalik and Poasie Peter, who helped with the terminology development, and toDaniel Currier, who provided the French translations.

Susan Sammons, InterpreterTranslator Program, March 1996

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, , 1996

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Prface

Ce glossaire sinscrit dans une srie ralise dans le cadre du programme desinterprtes/traducteurs du Collge de lArctique, Campus Nunatta. Il contient une listetrilingue de termes techniques avec les dfinitions simplifies en anglais qui, nous le

pensons, seront utiles aux interprtes/traducteurs qui travaillent dans ces domaines.

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A

Account: : Kiinaujaqutiqarvik: compte

A written record of what happens to money.

Capital account: : Nangminiliup kiinaujatnangminirijangit: compte de capital: An account set up to keep track of how muchof his own money a business-owner puts into the business.

Charge account: : Akiliksanigunnarvik: compte ouvert: Anarrangement that lets you buy something now and pay for it later. We have acharge account at No rthern.

Controlling account: : Kiinaujanijjutiagguqsimaningata nuattarvinga: compte de contrle: An account in the generalledger. The balance is the same as the total of the balances of certain relatedaccounts.

Current account: : Sikkiliurviginnaqtuq: compte courant: A kind ofbank account in which you can use cheques to put money in and pay money out.

Deposit account: : Tuqquqsisimavvik: compte dpargnes: A kind ofbank account that pays interest (making more money on the money you have inthe account.)

Nominal account: : Isumalittarvilik: compte de rsultats: An accountthat is closed at the end of each accounting period. Same as a temporary account.

Permanent account: : atuqtaunginnaqtuq: compte permanent: Anaccount that stays open as long as the assets or debts that are recorded in theaccount still exist. Same as a real acco unt.

Real account: : Atuqtaunginnalarittuq: compte de valeurs: Anaccount that stays open as long as the assets or debts that are recorded in it stillexist. Same as a permanent account .

Temporary account: : Isulittarvilik: compte temporaire: An account that isclosed at the end of each accounting period. Same as a nominal account .

Withdrawals account: : Nangminiliuppiijaivvigijunnaqtangit: compte des prlvements: An account that is set up to keeptrack of the money that the owner takes out of the business.

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Accountant: : Kiinaujalirijimmarik: comptable

A person who prepares, figures out and organizes all the information about themoney that is earned and spent by a business.

Chartered accountant: -: Paippaataaqsimajuqkiinaujalirijimmarimmut: comptable agr: An accountant who has specialprofessional training and qualifications.

Public accountant: : Kikkutuinnarnutkiinaujalirigimarigijauvattuq: expert-comptable: An accountant who will do work foranybody, not just a certain business.

Accounting: : Kiinaujaliriniq: comptabilit

Keeping track of the money that is earned and spent in a business, organizing thisinformation, and making decisions about the best ways to use money.

Accounting cycle: : Kiinaujalirinnami iliuqtaujarialiit:cycle comptable: All the things that need to be done in accounting during a certainperiod of time. (See Account ing period.)

Accounting period: : Kiinaujalirinnaq: priode comptable: The length oftime that a business keeps track of its money before it puts all the informationtogether into a report. (See Fisca l yea r.)

Accounting records: : Kiinaujalirijut tittiqqat: registrescomptables: The organized information about what is happening with money in a

business.

Accrual accounting: :Kiinaujalirinnarmi niriunaqtut nalunaiqtausimaningit: comptabilit dexercice:A methodof accounting that includes all the money that has been earned and all theexpenses that the business has had, during a certain period of time (accountingperiod), even though all the money has not actually come in yet, and all the billshave not actually been paid yet.

Cash basis accounting: :Kiinaujalirijjusiq tavvaummarittuninnaq nalunaiqsisimalluni: comptabilit de caisse:

A method of accounting that includes only the money that has actually beenreceived, and the expenses that have actually been paid out, during a certainperiod of time.

Cost accounting: : Nangminirijaup aulatauninganutatuqtut: comptabilit de prix de revient: A type of accounting that helps a businesskeep track of, and control, how much it costs to run the business.

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Double-entry accounting: :Kiinaujaliriniraqtakullu akiliksarinirraqtakullu titiraqtausimaningit: comptabilit en partiedouble: An accounting system where each item of money information is written intwice, so that it shows on both the credit side and the debit side of the account.

Accounts Payable:

: Akilirialiit: comptes-fournisseursInformation about how much money a business owes to others.

Accounts Receivable: : Kiinaujat utiqtussat: comptes-clients

Information about who owes money to the business, and how much they owe.

Accrual Accounting: : Kiinaujalirijut tittiqqat: comptabilitdexercice

A method of accounting that includes all the money that has been earned and allthe expenses that the business has had, during a certain period of time (accountingperiod), even though all the money has not actually come in yet, and all the billshave not actually been paid yet.

Accrue: : Nuappalliajut: saccrotre, courir

To be added on naturally. The longer you leave money in the bank, the moreinterest will accrue.

Accrued expenses: : Akilissat titiraqtausimanngittut: fraiscourus: Expenses that have not been paid yet and therefore have not been writteninto the accounts.

Accrued revenue: : Kiinaujaqtaangujussattitiraqtausimanngittut: revenu couru: Money that has been earned but which has notcome in yet, and therefore is not been written into the accounts yet.

Adjusting Entry:: Aaqigiaruti: criture de rgularisation

A journal entry that is made at the end of an accounting period to make sure thatall the earnings and expense records are up-to-date and correct.

Adjustments: :aaqqigiaqtausimajut: r-ajustement

Changes that are put in certain accounts (see General Ledger)at the end of acertain time period (fiscal period) to bring the accounts up to date.

Advance:/: siviningagut/tungauttisimajumikakiliqtauniq: avance

Part payment for something, earlier than you would normally get the full payment.He asked for an advance on his next pay, because he had run out o f money.

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Alimony: : aippavinirminut kiinaujaijarutingit:pension alimentaire

Money that is paid by a separated or divorced spouse to help support the ex-spouse. The amount is usually set up with the help of a lawyer or court.

Amortization: : akiqaruniiqpallianinga: amortissement1. The process of becoming worth less. All things and equipment wear out

eventually, so an old thing isnt worth as much as a new thing. Amortizationmeans figuring out how much less something is worth after a certain period oftime.

2. It can also refer to a loan: as you make payments, your debt amortizes orbecomes less.

Annuity: : arraagutamaat nalliukkumaarusiat: annuit

A yearly payment that is made to you. You usually make payments into a pensionplan or insurance plan now, so that in the future (usually when youre not workinganymore) you can receive income every year.

Appreciate: : akituliqpalliajuq: saccrotre

When something becomes worth more money than it was at first.

Appreciation: : akituliqpallianiq: plus-value

(See Apprecia te.)

Articles Of Incorporation: : nangminitaarumanirmuttussirautit: statuts

The written application which you must send to the government if you want to setup a certain kind of business. (See Corpo rat ion.)

Assets: : akililimaat pigijat: lment dactif

Anything (including money) that a person or a business owns, which is worthmoney.

Capital assets: : piqutit akitujut: valeur immobilise: Real things that

can be seen and which last a long time, like land, buildings, machines, cars, etc.Current assets: : arraaguppat kiinaujaruttitussat: actif courtterme: Assets that are expected to be turned into cash within the next year.

Fixed assets: : piqutit pigijauksuujarniaqtut: immobilisations:Things like land and buildings, which will be useful to a business for a long time,without needing a lot of changes.

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Liquid assets: :kiinaujallariilluunniit kiinaujallarinnguqtikautigijaksaujulluunniit: liquidits: An asset (likecash) that can be easily used, or something that can easily be changed into cash.

Net assets: : nangminiup amiakkungitakiliksaijaanikaangami: actif net: The amount that a business still owns after theysubtract the cost of all their debts.

Audit: : kiinaujaliriarivaktatqaujisaqtaummaringningit: vrification

A very careful examination of the accounts of a business, to make sure that all theinformation is correct. The audit is done regularly by an accountant who isspecially trained.

Auditor: : kiinaujalirianguvaktunik

qaujisaqtimmarik: vrificateurThe person who does an audit.

B

Bad Debt: : akiliksaq akiliqtauvallianngittuq:mauvaise crance

Money which someone owes you, but which you cant get from him for somereason. You have to accept it as a loss.

Balance: : katittugit kiinaujat: solde

1. The difference between the right (credit) side of an account and the left (debit)side of the account.

2. The difference between the increases (money in) and the decreases (money out)shown in an account.

3. The amount of money that you have left. The balance in his bank acco unt wasonly $5.

Balance due: : akiliksaup amiakkunga: solde payer: Theamount that you still have to pay.

Balance sheet: : kiinaujait nalunaiqtauningit: bilan: Abusiness form that shows information about what the business owns, how muchthey owe, and what the business is worth.

Credit balance: , :isiqpalliajut piqutinit akilissani anivalliaju piqutinit akilissanit: profits: The balancewhen the total of credits is more than the total of debits.

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Debit balance: : anivalliajut piqutinit akilissani: pertes:The balance when the total of debits is more than the total of credits.

Trial balance: : isiqpaliajunut

anivalliajunullu naliritittisimajjuti: bilan quilibr: Showing that the debits and creditsin the accounts are equal.

Bankruptcy: : akiliksaqaluamut sunairutiniq: faillite

A legal situation where a person or business is not able to pay off their debts.Everything that the person or business owns can be sold off in order to pay asmuch of the debt as possible.

Bill Of Exchange: : akiliijumaarniarniraijjuti: lettre de change

A legal written agreement saying that one person or business will pay another

person a certain amount of money on a certain date. Examples of a bill ofexchange are a Canada Savings Bond or a cheque.

Bill Of Lading: : aullaqtitauniusajut miksaanuttitiqqat: connaissement

An official receipt for things that are going to sent. It gives the details about whenand how the things will be sent and how much it will cost.

Bill Of Sale: :niuvirnirauti: contrat de vente

A legal paper that shows that one person has bought something from another

person and now owns it. When James bought the car, he go t a b ill of sale fromDavid to prove that he owned t he car now.

Board Of Directors: : katimajiit aulattijiullutik: conseildadministration

A group of people who control and make the decisions about a corporation orbusiness or organization.

Bond::kiinaujanit atuqtuanirmut paippaaq:obligation

A document or certificate that is given by a company or a government to someonewho has given a loan to them. The bond shows that the business or governmenthas borrowed a certain amount of money from the person. It also shows that thecompany or government agrees to pay the person back by a certain date, and witha certain amount of interest.

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Bookkeeping: : qautamaat kiinaujalirianguvaktut: tenuede livres

The part of accounting that deals with writing down each time money comes in oris spent.

Break-Even Point: : kiinaujaliunnaniluakilissaliunnanilu: point mort

When a business is at the stage that they dont owe any money but they haventearned any profit. All the expenses are paid but no extra money has been made.

Bridge Loan: : atukannavisaq: prt temporaire

A temporary loan to help you out while youre waiting to get your real loan, whichhas been approved but isnt available yet. When he bought the new house, he hadto get a bridge loan, because the bank wouldnt give him the mo rtgage unt il his

old ho use was sold.

Budget: : kiinaujat atuqtuksat: prvisions budgtaires

A plan which outlines how much money will be available and how it will be spent.

Budgeting: : kiinaujat atuqtaunirijaksanginnikaaqqiksuiniq: tablissement du budget: Making a plan about how you will spend themoney which you will have.

C

C.A.: c.a.Chartered accountant. An accountant who has special professional training andqualifications.

C.P.A.: expert-comptable

Chartered Public Accountant. An accountant who has special professional trainingand qualifications, and who will do work for anyone, not just one employer.

Canada Pension Plan: : kanatamiittuqsiutiksanut iliuraivik: rgime des rentes du Canada

A pension plan set up by the Government of Canada. Everybody who works pays acertain share of their income into the program, so that when they get older thegovernment will give them a small amount of money to live on.

Cancelled Cheque: : sikkiliangunikuviniq: chque pay

A cheque that has been paid by the bank and subtracted from the customers bankaccount.

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Capital: : akitujuutit: capital

The total amount of money and things that a business has are worth money.

Capital account: : Nangminiliup kiinaujatnangminirijangit: compte de capital: An account set up to keep track of how muchof his own money a business-owner puts into the business.

Capital assets: : piqutit akitujut: valeur immobilise: Real things thatcan be seen and which last a long time, like land, buildings, machines, cars, etc.

Capital expenditure: : akitujuutinut kiinaujait atuqtut:dpense en capital: Money that is spent on equipment or assets which will beuseful for a long time.

Capital gains: : piqutirjuanut kinaujaliuruti: gain en capital:The profit (money that you earn after you pay off your expenses) that a person orbusiness makes when they sell capital assets such as buildings or machinery.

Capital gains tax: : piqutirjuanutkiinaujaliurutinut taksijarutinga: impt sur les plus-values: The taxes that you have topay on the money that you make when you sell an asset.

Capital statement: : namminirijaujuupkiinaujangita aulanirisimajangit: tat des capitaux propres: A description of how theworth of a business has changed during a certain period of time (accountingperiod).

Working capital: : kiinaujat aulajjutiksat: fonds de roulement: Themoney that is available to a business for the day-to-day running of the business. Itis what you have left after you have subtracted current liabilities from the currentassets.

Capital Cost Allowance: : namminirijaujup akitpiijarunnaqtangit: provision pour cot du capital

An amount of money that a business can subtract off its yearly taxes for the costof certain assets such as buildings or equipment. Buildings, equipment, etc. canbecome worth less money as they get older and wear out, so the business can

also subtract a certain amount for this depreciation every year.

Capital Gains: : piqutirjuanut kiinaujaliurutit: plus-value,gain en capital

The profit (money that you earn after you pay off your expenses) that a person orbusiness makes when they sell assets such as buildings or machinery. (See Cap ita lAssets.)

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Capital gains tax: : piqutirjuanutkiinaujaliurutinut taksijarutinga: impt sur les gains en capital: The taxes that youhave to pay on the money that you make when you sell an asset.

Carry Over:

: nutaamut makpigarmut titiraqsiniq: reportTo make an entry (write in information about money) on a new page or in a newaccount.

Carrying Charge: : atuqtuarnimut akilirialiit: frais depossession

The cost or amount of interest which you have to pay when you borrow money.

Cash: :kiinajallariit: argent, encaisse

Real, actual money.

Cash journal: : kiinaujallariit miksaanuttitiraqtauvalliasuut: journal de caisse: A special book or computer file in which youkeep track of only those activities that involve cash.

Cash Basis Accounting: :Kiinaujalirijjusiq tavvaummariktuninnaq nalunaiqsisimalluni: comptabilit decaisse

A method of accounting that includes only the money that has actually beenreceived, and the expenses that have actually been paid out, during a certain

period of time.

Cash Discount: : akiliisaalinirmut akiliriarut: escompte decaisse

Sometimes when an invoice is sent to you for something you bought, you may beable to pay less if you pay by a certain date. This is called a cash discount.

Cash Journal: : kiinaujallariit miksaanuttitiraqtauvalliasuut:journal de caisse

A special book or computer file in which you keep track of only those activities

that involve cash.

Certified Cheque: :kinaujaruqtitauniusatuinnaqtuq sikki: chque certifi

A cheque which the bank promises will be cashed. The bank makes a special noteon the cheque to prove that it will definitely be cashed.

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Charge: :akiliksatigut niuvirniq: dbit, porter au dbit

1. To have permission to pay for something later, not at the time you buy it. Heasked if he could cha rge it.

2. The amount that something costs. The charge for cable is $35 a month.3. To ask for payment. He charged me $10 an hour.4. To add a debt (money owed) to a certain account. He charged it t o his

Northern account.

Charge account: : Akiliksanigunnarvik: compte ouvert: Anarrangement that lets you buy something now and pay for it later. We have acharge account at No rthern.

Charge card: : Akilissanijjuti auttajuuq: carte de crdit: Aplastic card given to you by a bank or business, which allows you to buy thingsand pay for them later. Same as a credit card.

Charge customer: : niuviqpattunut akilissanijjuti: client aveccompte ouvert: A person or business that has been given permission to pay lateron for what they buy.

Charitable Donations: :tunniqusiat kiinaujait: dons de charit

Money that you give as a gift to organizations that are legally and officially listedas non-profit (they dont make any money) helping agencies (examples: a homelessshelter or the Crisis Line.)

Cheque: : sikki: chque

A written order to a bank, telling the bank to pay a certain amount of money tothe person whose name is on the written form. The bank pays the money out ofthe bank account of the person who wrote the cheque.

Cancelled cheque: : sikkiliangunikuviniq: chque pay: A chequethat has been paid by the bank and subtracted from the customers bank account.Certified cheque: : kinaujaruqtitauniusatuinnaqtuqsikki: chque certifi: A cheque which the bank promises will be cashed. The bankmakes a special note on the cheque to prove that it will definitely be cashed.

Dishonoured cheque:

: kiinaujakkuvimmutsikkirassaunngittuq: chque refus: A cheque that the bank refuses to cash.

NSF cheque: : sikkirutissaunngittuqkiinaujaqanngiluamut: chque sans provision: A cheque that the bank will not cashbecause there is not enough money in the account. (NSF means no t sufficientfunds.)

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Outstanding cheque: : sikkiirutausimajuqnalunaiqsimanngittuq: chque en circulation: A cheque that has been given outwhich may have been cashed, but not has been recorded on the statement.

Cheque Register: : sikkiliangujut titirausiuvvia: registre

des chquesA book where you first record every payment that is made by cheque.

Child Tax Benefit: : surusimmut sikki: crdit dimpt pour enfants

The amount of money the government gives parents each month, to help them takegood care of their kids.

Closing Entry: : nuuttiqtaujut arraagumu nutaamu:criture de clture

Entries that are made in temporary accounts to show that the balance of theaccount has been transferred to another, permanent account.

Closing The Ledger: : kiinaujalirijjutit matujauningit:clture du grand livre

The process of transferring the accounts of money that has come in and moneythat has been paid out, to the business owners capital account (the account thatshows how much money the owner has put into the business.)

Collateral: : namminirijamut nalliukumaaqsijuti:nantissement

Something you own which you can use to get a loan. If you arent able to pay theloan back, the lender can keep this property of yours. When John a sked the bankfor a loan, he had to agree to use his car as collateral.

Commercial: : kiinaujaliurasuarvik: commercial

Having to do with business.

Commission: : niurrutiqattumut akiliutaurarjuqtuq:commission

A payment that is a certain percentage of the value of a sale. It is usually paid toa salesman. The car salesman earned a 10% commission on every car he sold.When he sold a ca r for $10,000, he earned $1,000 .

Common Expenses: : akilirialinnu katujjiniq: frais communs

Expenses that belong to more than one part of a business, or to more than oneperson. Example: All the people living in the house paid a part of the commonexpenses like rent and heat.

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Common Share: :namminiqaqataujjuti: action ordinaire

Shares that are the same for everyone. None of the people who own part of thebusiness have any special rights or benefits. (See Share; Preferred share.)

Compound Interest: : kiinaujatqiturngiuqpalliajut qiturngiurnirijangit:intrts composs

Interest that you earn on the interest you have already earned. If you put $100 inthe bank, in a year you get $5 interest, so you now have $105. At the end of thesecond year, you will have earned interest on that $105, not just on the original$100 you first put in.

Comptroller: : kiinaujalirijiit kamajinga: contrleur

The person who is in charge of all the accounting in a business. Same ascontroller.

Contingent Liabilities: : akiliksautuinnarialiit: lment depassif ventuel

Debts that you will have to pay only if certain things happen. If your brother takesout a bank loan and you have signed the loan papers too, you will have to paythe bank back if something happens to your brother. This is a contingent liabilityfor you; you will only have to pay if your brother doesnt pay.

Controller: : kiinaujalirijiit kamajinga: contrleur

The person who is in charge of all the accounting in a business. Same ascomptroller.

Controlling Account: : kiinaujalijjutitagguqsimaningata nuattarvinga: compte de contrle

An account in the general ledger (the book that contains all the information abouta businesss money activities). The balance is the same as the total of the balancesof certain related accounts.

Consumer: : niuviqtuq: consommateur

A person who buys something.

Corporation: :piqujaqtigut timiruqtitausimajuq:socit, compagnie

A type of business which has the legal right to do things as though it were aperson. For example, the business can buy things, or get in debt; but the peoplewho actually own the business (see Shares)do not own the things the businessbuys, and they are not personally responsible for any debts that the business has.

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Cost: : aki: cot, prix de revient

How much you have to pay for something.

Fixed costs: : aaqisuqtausimajuq akissaq: frais fixes: When theamount of money you have to pay out for something doesnt change, no matterhow much you do or how much you use the thing. The rent they paid for t hesto rage building was a fixed cost .

Variable costs: : asijjitaqtuq akissaq: frais variables: When theamount of money you have to pay out for something changes, depending on howmuch you do, or how much you use. Buying sealskins was a variable cost ,depending on how many pairs of kamiks needed to be made.

CostAccounting: : Nangminirijaupaulatauninganut atuqtut:comptabilit de prix de revient

A type of accounting that helps a business keep track of how much it costs to runthe business, and to control those costs.

Cost-Benefit Analysis: ():makimajunnarmangaaq qaujisarniq kinaujatigu:analyse des cots et rendements

Figuring out the cost of a certain project or plan, and the advantages and positiveresults of the project.

Costing: : akissarnit qaujisarniq: calcul du prix de revient

The process of figuring how much it will cost to do something. Lets do a co stingbefore we decide whether t o buy new comput ers.

Credit: 1. 2. : 1. quvvasiriaruti ammugiarutilu akilissaqautinuakilissaqautiungittunullu 2. kiinaujaqtarutaujut: crdit

1. Information about money, written in the right side of an account.2. Money that is received.3. Permission to buy something without having to pay for it right away. Same as

charge.

Credit balance:

,

:isiqpalliajut piqutinit akilissani anivalliajut piqutinit akilissanit: solde crditeur: Thebalance when the total of credits is more than the total of debits.

Credit card: : akilisanijjuti autajuuq: carte de crdit: A plasticcard that makes it possible for you to buy things without paying right away. Sameas charge card.

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Credit memorandum (memo): : qaukaiguti titiraqsimajuq: notede crdit: A written notice that a certain amount has been added to an account.

Credit terms: : akilissanilluni akiliqsurialit: modalits depaiement: The condition under which you are allowed to borrow money. It can

include how much you have to pay each month.Creditor: : akiliksaqarviujuq: crancier

The person to whom you owe money.

Currency: : kiinaujat: monnaie

The money that is used in a country. The man said he wanted t o be paid inAmerican currency, not Canadian.

Current Account: : sikkiliurviginnaqtuq: compte courant

A kind of bank account from which you can take money out and write cheques.

Current Assets: : arraaguppat kiinaujaruttigassat: actif court terme

Assets that are expected to be turned into cash within the next year.

Current Liabilities: : ullimimut akilissait: passif court terme

Debts that are supposed to be paid off within the next year.

Cycle Billing: (): akilisaqannirmu naliqqaq (tujuivit):facturation cyclique

Preparing and mailing information about accounts to customers, on certain days ofeach month.

D

Debit: 1. 2. . 3. : 1. quvasigiarutiammugiarutillu kiinaujatigu akilissaqautinut akilissaqautiunngitunullu 2. akilissaq3. piiqtaminit kiinaujakkuvigijamit:dbit, imputation

1. Information about money written in the left side of an account.2. Information about how much money a person owes for something. Example: My

VISA statement showed debits of $300.3. Information about how much money has been paid out of a persons account.

Example: The bank statement showed that my monthly debits were $2,000.

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Debit balance: : anivalliajut piqutinit akilissani: soldedbiteur: The balance when the total of debits is more than the total of credits.

Debt: : akiliksaq: dette, crance

Money that you owe to someone else.

Debtor:: asiminut akiliksalik: dbiteur

A person who owes money to someone else.

Deduct: : piiqsivik: dduire

Take away or subtract a certain amount. I can deduct child care costs off mytaxes.

Deduction: : piiqtaujut: dduction

A certain amount of money that is subtracted.

Payroll deduction: : kiinaujjaksaangujunit piiqtaujut:dductions la source: The taxes and other things like unemployment insurance,that your employer subtracts from your pay.

Tax deduction: : taksijarviuniq: dductions dimpts: An amount that youcan subtract off your taxes.

Defer: : sanirvaikalaurniq: reporter

To put off doing something until a later time.

Deferred expenditure: : sivuvariaqsimajut akilirassaq:dpense reporte: An expense that can be spread out over more than oneaccounting period.

Deferred liability: : sivunissamu akilirassatsivuvariaqsimajut: passif report: A debt that does not have to be paid until sometime in the future.

Deficit: : kiinaujait qaangiutiningit: dficit

A situation when a companys debts or spending are more than its assets orearnings.

Dependant: :tatiqaqti paqqijaujuq: personne charge

Someone who depends on another person to support him or her. This is usually aspouse or a child. He had 3 dependan ts: a wife and 2 kids.

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Deposit: : kiinaujakkuvingmuuqsiniq: dpt, acompte

1. To put money into a bank account.2. To pay a little bit of the cost of something ahead of time. Before we can get a

phone, we have to pay a $50 deposit. She paid a $10 deposit o n the sewing

machine, so the store would ho ld it for her until she could get it next payda y.

Deposit account: : tuqquqsisimavvik: compte dpargne: A kind of bankaccount that pays interest.

Outstanding deposit: : nalunaiqsimanngittuqkiinaujat puuqtausimajut: dpt non-inscrit: Money that has been put into the bank,but which does not show on the bank statement yet.

Depositor: : kiinaujakkuvingmuaqsijuq: dposant

The person or business who puts money into a bank account.

Depreciation: : akiliksivalliajuq: amortissement

When something becomes worth less money as time goes by or as it wears out.(See Amortization.)Example: After 5 years of depreciation, the car was only worthhalf of what he paid for it.

Devaluation: : akiqattiarunniiqtuq: dvaluation

When money becomes worth less. Example: At one time the Canadian dollar wasworth more than the American dollar, but now devaluation has made the Canadiandollar worth less.

Direct Expenses: : turangavvissallaringanutakiliqsutit: frais directs

Expenses that are the responsibility of only one department or one person.Example: Snowmobiles are a direct expense of the Renewable ResourcesDepartment.

Discount: :akilligiaqtaq: escompte

When a seller lets you buy something for less money than it actually costs. Thestore gave her a discount o n the price of duffle because she was buying so much

of i t .

Dishonoured Cheque: : kiinaujakkuvimmusikkiirassaunngittuq:chque refus

A cheque that the bank refuses to cash.

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Dividend: : namminiliit kiinaujaliangit: dividende

The part of the profits that a business makes, that is paid to the owners.(See Shareholders, Shares, Stock.)Because she had many shares in the company,she got a large yearly dividend cheque.

Double-Entry Accounting: :Kiinaujalirijjusiq tavvaummariktuniinnaq nalunaiqsisimalluni: comptabilit enpartie double

An accounting system where each item of money information is written in twice, sothat it shows on both the credit side and the debit side of the account.

Draw: :kiinaujanit piqsiniq: effectuer un retrait, tirer un chque

1. To take money out; to withdraw money.2. To write: draw a cheque means to write a cheque.

EEmployee: : iqqanaijaqtiquti: employ

A person who has been hired to work for someone. He is paid by the person orbusiness that hired him.

Employer: : iqqanaijarvigijaq: employeur

The person or business or organization that someone works for.

Endorse: 1. 2. : 1. angirutiqanniq2. nalunaiqsiniq sikkimut: endosser

1. To approve something; to say its OK. Example: He was asked to endorse theplan.

2. To sign the back of a cheque. (Your signature shows the bank that its OK togive you the money.)

Endorsement: 1. 2. : 1. angirutiqallarinni2. nalunaisillarinniq: endossement

1. An approval, an OK. When they go t his endorsement, they put in the order.

2. Your signature on the back of a cheque. The bank wou ldnt cash the chequewithout his endorsement.

Entry: : titiraqsiniq: criture

Each piece of information that is written into journals or accounts.

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Adjusting entry: : aaqqigiaruti: criture de rgularisation: A journal entrythat is made at the end of an accounting period to make sure that all theearnings and expense records are up-to-date and correct.

Closing entry: : nuuttiqtaujuq arraagumu nutaamut: criture

de clture: Entries that are made in temporary accounts to show that the balanceof the account has been transferred to another, permanent account.

Equity: : namminiqutiqaqtiup namminingit: capitauxpropres

When you own more of something than you owe on it. The money, and otherassets that a business or person still owns after subtracting all debts, is calledequity or net assets. The house was worth $150,000, but he only owed $50,000 onit. He had $100,000 equity.

Estimate: : akingit nalauqtaqsimajuqt: estimation

A reasonable guess about how much something will cost. The actual cost may behigher or lower, once its all figured out. The estima te for repairs was $300, but t hefinal bill was $400 .

Exempt: /: piqataunnginniq/ilauqataunngittuq:exempt

To be free from, or not included in, some rule or law. This income is tax-exemptmeans that the income cannot be taxed.

Exemption: (): taaksijarutaunngittut (kiinaujaliurnit):exemption

[When talking about taxes] certain things and amounts of income that are nottaxed.

Expenditures: : aulannirmut akiliutit: dpenses

Money that has to be paid out in order to run a business or household.Expenditures can include many things, like the cost of rent, or buying equipment, orpaying salaries. Same as expenses.

Capital expenditure: : akitujuutinut kiinaujait atuqtut:dpenses en capital: Money that is spent on equipment or assets which will beuseful for a long time. The cost of a new boat was a capita l expenditure.

Deferred expenditure: : akiliqtautiginianngittutitakiliutit: dpense reporte: An expense that can be spread out over more than oneaccounting period. The cost of t he new trucks was a deferred expenditure; they had5 years to pay it off.

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Expenses: : aulattijunnautiti: charge, frais

Money that has to be paid out in order to run a business or household. Expensescan include many things, like the cost of rent, or buying equipment, or payingsalaries.

Common expenses: : akilirialinnit katujjiniq: frais communs:Expenses that belong to more than one part of a business, or to more than oneperson. All the peop le living in t he house paid a pa rt o f the common expenses likerent a nd heating o il.

Direct expenses: : turaangavissallaringanut akiliqsutiit:frais directs: Expenses that are the responsibility of only one department or oneperson. Snowmobiles are a direct expense of the Renewable Resources Department.

F

Financial: : kiinaujaliriniq: financier

Having to do with money.

Financial statement: : kiinaujat unikkausirijauningit: tatfinancier: A report telling what the money situation of a business is like. It showsthings like how much the business earned and what their expenses were.

Fiscal: : kiinaujat miksaanuungajut: fiscal

Having to do with money. Same as financia l.

Fiscal year: : kiinaujat arraagunga: exercice financier: A 12-monthtime period during which a business keeps track of its money. At the end of thistime period, the business looks at the accounts and prepares a report about whathappened with its money. Then it makes plans for the next 12 months. A fiscal

year does not have to be the same as a regular year. For example, a fiscal yearcan run from March of one year to March of the next year.

Fixed: : surrakpanngittuq: fixe

When something stays the same, doesnt change much.

Fixed assets: : piqutit pigijaukutaaniaqtut: biens immobiliers:Things like land and buildings, which will be useful to a business for a long time,without needing a lot of changes.

Fixed costs: : aaqqisuqtausimajuq akissat: frais, cots fixes:When the amount of money you have to pay out for something doesnt change, nomatter how much you do or how much you use the thing. The rent they paid fo rthe stora ge building was a fixed cost.

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Fund: (): kiinaujaqutit kiinaujaqarvik: fonds, financer

1. A supply of money. Example: There is a special fund for emergencies.2. To give money for a certain purpose. Example: The church asked the community

to help fund a new parish hall.

Trust fund: : tuqquqtausimajut kiinaujaqutit: fonds enfiducie: An amount of money that is given to a person, but the person doesnthave control of the money. Someone else manages it and has to approve what isspent. When the rich man d ied, he left a trust fund fo r his young son. The son didnot get cont rol of t he money unti l he was 21 years old.

Funding: : kiinaujaqaqtittiniq: financement

Money that is given so that a certain project can be done. The womens sheltertried to get funding fo r new furniture.

GG.S.T.: t.p.s.

(See Goods And Services Tax.)

Goods And Services Tax: :kanataup gavamakkunnginnut taksijarutiit piqutinut pijissirarutinullu: taxe sur lesproduits et services

Extra money that the government says you have to pay for things or services thatyou buy. It is a certain percentage or share of the price of the thing or service

that youre buying.

General Journal: : titiqsivalliavik kiinaujaitaulanninginnut:journal gnral

A simple, easy-to-use journal in which you can write all kinds of information aboutmoney.

General Ledger: : kiinaujalimat aulaninginnuttitiqsivik: grand livre gnral

A book or computer file that contains the financial statements (all the information

about money that has been earned and spent) of a business.

Grant: : kiinaujat tunnirrutausimajut: subvention

Money that is given for a certain purpose and that does not have to be paid backas long as it is used for that purpose.

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Gross: : kiinaujat piiqsiviulauqtinnagit: brut, grosse

The total amount of something before any deductions are made.

Gross income: : kiinaujaliat piiqsiviulauqtinnagit: revenubrut: The total income that has been earned, before deductions.

Gross profit: : kiinaujaliatnamminiqutigijami piiqsiviulauqtinnagi akilirassanginni: profit brut: The money abusiness earned before they deduct their expenses.

Guarantee: : piqujatigut suliniraruti: garantie

1. A legal agreement that the company that makes something will give you yourmoney back if anything goes wrong with the thing. The TV had a two -yeargua rant ee. When it broke down after 6 months, he got his money back.

2. A legal promise to do something. He guaranteed tha t he would take

responsibil i ty for paying b ack t he loan.

H

Honour: : kajusitittiniq: honorer

1. To accept a request and follow through on it.2. To accept and pay a cheque. The bank ho noured the cheque even though it

was writt en on a scrap of ordina ry paper. The insurance company hono ured the

request fo r payment o f fire damages.

Human Resources: : iqqanaijaqtiqutit: ressources humaines

The people who work for a business or organization

I

Income: : kiinaujaliarijat: revenu

The money that has been earned.

Gross income: : kiinaujaliat piiqsiviulauqtinnagit: revenubrut: The total income that has been earned, before taxes and other things are

subtracted.

Income statement: : kiinaujaliarilauqtatnalunaijaqtauningit: tat des rsultats: A report that shows how much money wasmade or lost during a certain time period.

Income tax: : kiinaujjasaanit piijaqtaujut gavamakkunni:impt sur le revenu: The part of your pay that the government takes.

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Net income: : kiinaujatsaat piiqsiviulauqtillugit: revenunet: The income you are left with after taxes and other deductions have beensubtracted.

Income Summary:

: nailligiaqtisimajukiinaujait unikkaaqtausimaningit:sommaire des rsultats

The account in which all the money that was earned and the expenses of thebusiness are summarized. The amount of the net income or net loss is thentransferred from this account to other appropriate accounts.

Incorporate: : piqujatigut timinguqtitauniq: incorporer

To set up your business as a corporation.

Indemnity: 1. 2. :

1. pirrukallalluni sapummijauniq 2. akilirutaujjuti pirrukallalluni: indemnit1. Protection from damage, loss, injury or punishment. The movers contract had an

indemnity section, saying that he would no t be responsible for any damage that

happened.2. Payment for damage, loss or injury. He had t o pa y indemnities when his car ran

into t he neighbo urs house.

Inflation: : kisutuinnait akittupallianingit: inflation

A situation in which the price of things keeps going up, and your money doesntbuy as much as before.

Insurance: : nalliukkumaat: assurance

A protection plan that helps you if something you have is lost, damaged, stolen,etc. You pay a small amount regularly into the program. Then if somethinghappens, the insurance program will pay you so you can replace the thing that hasbeen taken away from you or damaged.

Unemployment insurance: : iqqanaijanngittuqsiutiit: assurance-chmage: A government plan that protects you for a while if you lose your job. Thegovernment pays you a certain amount of money for a while, to give you time tofind a new job.

Interest: : qiturngiurutiit: intrts

1. The price you pay for using (borrowing) someone elses money.2. The payment you get for letting someone use (borrow) your money.

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Compound interest: : kiinaujatqiturngiuqpalliajut qiturngiurnirijangit: intrts composs: Interest that you earn onthe interest you have already earned. If you put $100 in the bank, in a year youget $5 interest, so you now have $105. At the end of the second year, you willhave earned interest on that $105, not just on the original $100 you first put in.

Interest rate: : qaakkanniagut akiliqsuiniq: taux dintrts:The amount of interest you pay or earn. It is usually a certain percentage of thetotal amount of money you borrow or lend. The bank charged a 10% interest rat eon lo ans. When I bo rrowed $1,000, I had t o pa y $1,100 ba ck.

Simple interest: : : atuqtuallarittamuakiliqsuiniq: qitunngiurut: intrts simples: Interest that is earned only on the originalamount of money. If you put $100 in the bank, each year you might be paidinterest only on that $100, not on any of the interest that you earn.(See Compound interest abo ve.)

Inventory: : nasaqsimajut namminiqutigijatpiqutingit: inventaire

A list of all the things that a business has, and how much they are worth.

Invest: : kiinaujaliurasuarniq: investir

Putting your money into a business or project with the hope that you will makemore money.

Investment: : kiinaujaliurasuarniq: investissement

(See Invest.)

Investor: : kiinaujaliurasuaqti: investisseur

A person who puts money into a business with the hope that he will make moremoney.

Invoice: : akiliqtaujumajjuti: facture

A written form that shows what a person bought, how much it cost, and any othercosts the person owes, like shipping costs.

Purchase invoice: : akiliqtaujumajjuti niuviqtuupnaliqqattanga: preuve dachat: The copy of the invoice which the buyer keeps.

Sales invoice: : akiliqtaujjutissamu niuviqtiupnaliqqataanga: preuve de vente: The copy of the invoice which the seller keeps.

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J

Joint: : katujjiqatigiittuuk: commun, conjoint

When two things are combined together.

Joint account: : katujjiqatigiilluni kiinaukuviqauti: compteen commun, conjoint: A bank account that belongs to two or more people together.Both people can take money out of that account.

Joint expenses: : katujjijuuk akilisanit: frais communs: The total ofthe expenses that two or more people are responsible for.

Joint cost: : atausirmuungajunut akinga: cot commun: Thesingle amount you have to pay for two or more different items. The joint cost o fthe computer and printer was $3,000.

Joint venture: : katujjiqatigiillutit namminiqarni: socit encoparticipation: A business activity that two or more businesses are involved intogether. Johnny had a co nstruction business. Simon had a plumbing and heatingbusiness. They decided to start a joint ventu re, building houses together.

Journal: : kiinaujanut titiraqsivik:journal

A book where money activities are recorded first. This information is thentransferred to the appropriate accounts in the ledger.

General journal: : titiqsivallianiq kiinaujait

aulaninginni: journal gnral: A simple, easy-to-use journal in which you can writeall kinds of money information.

Journalize: : kiinaujalirivvinnut titiraqsiniq: journaliser:Writing information in a journal.

L

Ledger: : katisimaningi kiinaujanu titiqsivingita:grand livre

A group of accounts.General ledger: : kiinaujalimaat aulaninginnuttitiqsivik: grand livre gnral: A book or computer file that contains the financialstatements (all the information about money that has been earned and spent) of abusiness.

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Liability: : akilirialiit: crance, responsabilit

1. Debts. The amount of money you owe to others. The plural is liabilities.2. Responsibility. Because he owned the small business by himself, he had t o ta ke

liability fo r all the business debt s.

Contingent liabilities: : akiliksautuinnarialiit: passif ventuel:Debts that you will have to pay only if certain things happen. If your brother takesout a bank loan and you have signed the loan papers too, you will have to paythe bank back if something happens to your brother. This is a contingent liabilityfor you; you will only have to pay if your brother doesnt pay.

Current liabilities: : ullumimut akilissait: dettes court terme:Debts that are supposed to be paid off within the next year.

Deferred liability: : sivulissamut akilirassatsivuvariaqsimajut: passif report: A debt that does not have to be paid completelyuntil some time in the future.

Liquid Assets: :kiinaujallariilluunniit kiinaujallarinnguqtikautigijaksaujulluunniit:liquidits

An asset (like cash) that can be easily used, or something that can easily bechanged into cash. His liquid assets included $5 ,000 in cash and a co uple ofCanada Savings Bonds.

List Price: : sanasimajuup akiqutinga: prix courant

The official price of something. This is usually set by the company that makes thething. A business can sell it for less. Example: The list price of the computer wasover $2,000, but he got it for only $1,500.

Loan: : atuqtuagaq: prt

Money that someone gives you, but you have to pay it back.

Bridge loan: : atuqtuakannarasaq: prt intrimaire: A temporaryloan to help you out while youre waiting to get your real loan, which has beenapproved but isnt available yet. When he bought t he new house, he had to get abridge loan , because the bank wouldnt give him the mort gage until his old ho use

was sold.

Loss: : kiinaujaliunngiluaqtuq: perte

The money a business still owes when it has used all its earnings to pay off debtsand expenses. When the total amount of money coming in is less than the totalmoney being paid out. This is the second year in a row tha t t he sto re has run at aloss.

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M

Maturity: : kiinaujaup naammasivvingatanalliutininga: date dchance

The time or date when something (for example, a bond or an insurance policy) is

supposed to be paid to you in the full amount that it is now worth.

Maturity value: : kiinaujaup naammasivvingaakigiliqtanga: valeur lchance: The full amount that something is worth after ithas earned interest for a specific length of time.

Merchandise: : niurrutit: marchandise

Things that are sold to others. Nort hern sells all kinds of merchandise, fromgroceries to rifles.

Mortgage:

/

:illuqutitaarasungnirmut/nunaqutitaarasungnirmut akiliksanga: hypothque

A loan which you get so that you can buy property (usually a house or building.)

N

N.S.F. Cheque: : sikkiirutissaunngittuqkiinaujaqanngiluamut: chque sans provision

A cheque that the bank will not cash because there is not enough money in theaccount. (NSF means no t suffic ient funds.)

Net: : amiakkut piijaiviulauqtillugit: net

The amount of something after all the deductions or expenses have beensubtracted.

Net assets: : nangminiup amiakkungitakiliksaijariiraigami: actif net: The amount of money and other things that abusiness still owns after it has subtracted all debts and expenses.

Net income: : kiinaujataat piiqsiviulauqtillugit: revenu net:

The earnings you are left with after taxes and other deductions have beensubtracted.

Net profit: : piijiaiviulauqtillugitnamminiqaqtiup kiinaujaliangit: bnfice net: The money a business has earned afterit has subtracted all its debts and expenses.

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Nominal Account: :isumalittarvilik: compte de rsultats

A temporary account: an account that is closed at the end of each accountingperiod.

Non-Profit: : kiinaujjagasunngittut: non-lucratif

An organization or business that is not set up to make money. A church or theCrisis Line are examples of organizations that give a service but do not makemoney from it. All the money they get is supposed to go for the expenses of givingthe service.

O

Old Age Security: : ittuqsiutit: pension de vieillesse

A program that the government has for everybody who is 65 years old or older, to

give them a little bit of money to live on.(See Pension Plan.)

Outstanding: : pijariiqtausimanngittut: impay, non-rgl

Not yet taken care of.

Outstanding cheque: : sikkiirutausimajuqnalunaiqsimanngittuq: chque en circulation: A cheque that has been given out butwhich has not been cashed yet.

Outstanding deposit: : nalunaiqsimanngittuqkiinaujat puuqtausimajut: dpt non-inscrit: Money that has been put into the bank,

but which does not show on the bank statement yet.

Overhead: : aulajjutillarituanut akingit: frais gnraux

Certain expenses that you have when you run a business. It includes things likerent, heat, etc., but does not include salaries or the cost of materials.

P

Partnership: (): namminiqatigiirniq katujjiqatigiirniq:socit en nom collectif

A private business (not a corporation) that is owned by two or more people. Theseowners themselves must pay any business debts, or the courts can take theirpersonal property.

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Pay Period: /: iqqanaijarnimmutakiliqtauvvik/sikkiitarvit: priode de paie

The time period that you get paid for each payday. Example: His employer owedhim money for the pay period May 1 to May 14.

Payroll: : iqqanaijaqtit akiliqsuqtaujut: liste de paieA list of all the employees in a business, and how much pay they get.

Payroll deductions: : kiinaujjaksaangujunit piiqtaujut:dductions la source: All the things that are subtracted from your pay, like taxesand unemployment insurance.

Payroll register: : iqqanaijaqtinutakiliqsuqtauningitta titiqqaqutingit: livre de paie: A business form which shows all thepayroll information.

Pay Slip: : sikkiup naliqqanga: feuille de paie

A piece of paper that shows how much money you earned and what deductionswere made for each pay period.

Pension Plan: /: ittuaqijjukisuq ningiuqijjutissaq/innatuqaujjusiasamut kiinaujatiguttuqquiviit: rgime de retraite

A way of having money available when you are older and not working any more.Usually, you put money into the pension plan a little bit at a time during the years

that you are working.

Canada Pension Plan: : kanatami ittuqsiutiksanutiliuqaivvik: rgime des rentes du Canada: A pension plan set up by the Governmentof Canada. Everybody who works pays a certain share of their income into theprogram.

Permanent Account: : atuqtaunginnaqtuq: compte permanent

An account that stays open as long as the assets or debts that are recorded inthe account still exist.

Petty Cash: : kiinaujat atuinnait: petite caisse

Money that a business puts aside for paying small expenses such as postage ortravel expenses or office supplies that run out. Example: She used money frompetty cash to pay for gas for the company truck.

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Posting: : kiinaujalirijjutikkutnaasautinit titiqsivallianiq:report

Copying information from a journal (the first book in which you write downinformation about money) into a ledger (the group of accounts which has all thefinal information.)

Preferred Share: : ajunngijjutiqanniqsaqnamminiqaqataujjutimut:action privilgie

A share (part-ownership of a company) that gives the owner special rights orearnings.

Premium: 1. 2. () 3. : 1. nalliukumaarutinut kiinaujat sanirvattauvalliajut2. qaakkanniagut pitaruti (niuvirluni) 3. pillariuniqsaq: prime, meilleur

1. A small amount of money that you pay regularly for an insurance plan. He paida mont hly premium o f $25 for his life insurance plan.

2. Something extra; a reward. The sto re advertised that they would g ive you a freeCD as a premium, if you bought a CD player.

3. Better than average; of high quality. The premium ice cream was made with realcream, while the regular stuff was made with milk.

Premium on shares: : namminiqaqataujutiqaakkanniagut akiliijjutilit: prime lmission dactions: An extra amount you pay fora share, more than the amount it is supposed to be worth.

Prepaid: : akiliqtaugiiqsimajuq a: prpay

The buyer has paid for something before he actually gets it.

Profit: : kiinaujjaliurniq: bnfice

The money a business has earned after it has paid off all its debts.

Gross profit: :kiinaujaliat namminiqutigijamit piiqsiviulauqtinnagit akilirialinginnik: profit brut: Themoney a business has earned before it subtracts its expenses.

Net profit:

: pijaiviulauqtillugitnamminiqaqtiup kiinaujaliangit: bnfice net: The money a business has earned afterit has subtracted all its debts and expenses.

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Profit Margin: : kinaujaliurutit akilirassatpiijalauqtillugit:marge bnficiaire

The percentage that a business earns as profit on the things that it sells, after allthe debts and expenses are subtracted. The sto re bought videotapes for $2 each.They sold them for $4 each. After they subtrac ted a ll the expenses involved, they

made a profit o f 50 cents on each videot ape. Their profit margin on videot apes was

25%.

Promissory Note: : akilirnianiralariruti: billet ordre

A written promise to pay a certain amount of money by a certain date.

Proprietor: : namminiqaqti: propritaire

The person who owns a private business (not a corporation).

Proprietorship: : namminiqarniq: proprit

Owning a business.

Purchase: : niuvirniq: achat

To buy something.

Purchase invoice: : akiliqtaujumajjuti niuviqtuupnaliqqattanga: preuve dachat: The copy of the invoice which the buyer keeps.

Purchase order: : niuvirunnauti: bon de commande: A written paper that

is given to the seller, showing what you want to buy from the seller.Purchase requisition: :niuviqtusiutitarumajjuti piqutinut pijissirutinullu: demande dapprovisionnement: Awritten paper that tells your employer what you want them to buy for you on the

job.

Q

Quote: : akisaqsiurniq: donner un prix

A statement of how much something will cost if you buy it. When Mark was lookingaround fo r a snowmob ile to buy, he went t o every dealer in t own. The Ski-Doo

dealer gave him the cheapest quo te.

R

RRSP: REER

(See Registered Retirement Savings Plan.)

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Ratio: : ajjiginngiimmangaata qaujisarniq: ratio,coefficient

A way of showing how the amount of one thing compares to the amount ofanother thing. When you a re mixing up powdered milk, the rat io o f milk powder andwater is 1 to 3 (1:3). This means you use 1 cup o r part of m ilk powder and t hree

cups or parts o f water.

Raw Materials: : ilassait: matriaux bruts

The things you use to make some other thing. The raw materials to make bannockare flour, salt, fat, baking powder and wat er.

Real Account: : atuqtaunginnauqtuq: compte permanent

An account that stays open as long as the assets or debts that are recorded in itstill exist.

Receipt: : akiliilaurnimut nalunaikkutaq: reu

1. Written proof that you have bought something and paid for it. The sto re want edto see her receipt b efore they would exchange the sweat er.

2. Anything that has been received, especially money. This is usually used in theplural, receipts. The days cash receipts to ta lled $400.

Recession: : makimanasuutit katappaalliqsimaningit:rcession

A period of time when businesses and employers are not doing too well. Usually,

there are more people unemployed during a recession.Reconciling A Bank Statement: : kiinaujakkuvimmiingaaqtut naasautiqutingitnaasautiqutinnut ajjigiimmangaata qaujisarniq: conciliation bancaire

Making sure that the banks information about the money that has been put intoyour bank account, and paid out, matches your own information. Sometimes thereare differences between your records and the banks records, so you figure out thereasons for the differences.

Refund: : utirviuniq: rembourser

1. To give money back. This is usually done if there is something wrong with thething or the service which was bought.

2. To borrow or obtain more money to pay off old debts.

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Registered Retirement Savings Plan: :iqqanaijarunnirniqsamut kiinaujanik sanirvainiq: rgime enregistr dpargne-retraite

A special saving arrangement where you can pay a certain amount of money eachyear so that youll have some money when you stop working. (See Pensio n Plan.)You dont have to pay taxes now on the money you put into this kind of savingsplan. It is usually called an RRSP.

Reimburse: : akiliijjutaunikumik utiqtittiniq:rembourser

To pay back. My emp loyer reimbursed me for the tra vel expenses.

Remit: : akiliutimmik naksiujjiniq: remettre

To send money.

Remittance: : akiliut naksiujjaq: paiement, remise

An amount of money that is sent out, especially to pay for some thing or someservice.

Requisition: : niuviqtusiutitarumajjutipiqutinut pijissirutinullu: bon de rquisition

A written order showing what you want to buy. Same as a purchase requisitio n.

Resources: 1. 2. : 1. kiinaujat kajusijjutisat2. ikajuutissaq:ressources, fonds

1. Money, or ways of getting money. Example: The business did not have enoughresources to build a new store.

2. The people or places you can go to when you need something. Even t hough hedidnt ha ve the money himself, he had ot her resources, like a rich uncle who was

willing t o help.

Human resources: : iqanaijaqtiquti: ressources humaines: Thepeople who work for a business or organization; the employees.

Retail: : kikkutuinnarnut niurutissaq: dtail

Selling (usually) small amounts of things to the public. Examples: He started abusiness retailing smoked char. Northern has retail stores in every community.

Retail price: : niuvirvit akingit: prix de dtail: The price the storecharges for each thing that they sell to the public. This price is figured out byadding up the amount that the store paid for the thing, other expenses, and anamount for profit.

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Retroactive: : kingummut: rtroactif

Going backwards in time. A pay raise may be retroactive to a certain date in thepast. This means that you will receive extra money now, as though you had beenmaking your new pay rate ever since that date.

Return: : utiqtut: revenu, rendement, rendu1. The amount of money that was made in sales during a certain time period.2. The profit that is made when capital (usually money) is invested or used to

make more money. This is usually shown as a percentage of the money thatwas used. He had a 5% return on t he money he invested in h is friends business.

3. To come back, or give something back.

Revenue: : kiinaujjaksarvigijaup kiinaujjarninga:revenu

Money coming in.

1. The money that you earn when you run a business.2. The money which the government gets by taxing people.

Revenue Canada: : kanataup gavamakkingiyataksiijarvinga: Revenu Canada: The part of the government that is responsible forcollecting all the kinds of taxes.

Royalty: : ningiqsiniq: redevances

A payment that is made to a person, for the right to use something he owns or

has created. Susan Aglukark receives a royalty each time a radio stat ion pla ys oneof her songs.

S

Salary: : kiinaujjaksaaq: salaire

The amount of money you make on a job.

Sales Invoice: : akiliqtaujjutisangamutniuviqtiup naliqaqtaangat: facture

The copy of the invoice which the seller keeps.

Self-Employed: : nangminirijarmigut kiinaujjaksarvilik:travailleur autonome

A person who works for his own business. He is not an employee of someone else.

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Share: : namminiqartiujjuti: action

The owners of a corporation (a special kind of company) each own only a part ofthe business. Each part is called a share. Same as a stock.

Common share: : namminiqaqataujjuti: action ordinaire: Shares thatare the same for everyone. No one has any special rights.

Preferred share: : ajunngijjutiqanniqsaqnamminiqaqataujjutimut: action privilgie: A share that gives the owner specialrights or earnings.

Share Certificate: : namminiqattiuqataunnimmunaliqaq: certificat daction

A piece of paper that proves you own a share in a business.

Shareholder: : namminiqattiuqataujuq: actionnaireA person who owns shares in a business.

Simple Interest: /: atuqqtuallarittamuakiliqsuiniq qitunngiuruti: intrts simples

Interest that is earned only on the original amount of money. For example, if youput $100 in the bank, each year you might be paid interest only on that $100, noton any of the interest that you earn.

Statement Of Remuneration: :

kiinaujaliuruitminirnut nalinaiqsijjuti: tat de la rmunration payeThis is the form you get from your employer which shows how much money youmade in a year and how much taxes, etc. were deducted. You have to send a copyof this form when you send in your tax return. It is usually called a T4.

Stock: 1. 2. : 1. niurutisaq 2. namminiqaqatiujjutit:stock, capital-actions

1. All the things that a store has to sell. Northern has lot s of food in stock.2. All the shares that someone owns in a certain kind of business. (See Sha re.)

Subsidy: : kiinaujatigut ikajuqtauniq: subsideMoney that is given by the government to some organization, business or group ofpeople so that they can afford to do a certain thing. Students with children canreceive a subsidy t o help them pay fo r dayca re while they are in college.

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Superannuation: : nuqatussiutit: superannuation

A kind of pension plan. You pay into it while you are working, so that you will havesome money when you get older and stop working.

Surplus: : kiinaujat amiakkut: surplus

An extra amount of something, more than what you need. They had a surplus offish, so t hey gave some of it to the elders centre.

T

T4:: kiinaujaliurutiminirnut nalunaiqsijjuti: T4

This is the form you get from your employer which shows how much money youmade in a year and how much taxes, etc. were deducted. You have to send a copyof this form when you send in your tax return.

Tax: : taksijaruti gavamakkunnu: taxe

An amount of money that people and businesses must pay to the government. Thisis one way the government makes money to pay for expenses and services.

Capital gains tax: : piqutirjuanutkiinaujaliurutinut taksijarutinga: taxe sur les gains en capitaux: The taxes that youhave to pay on the money that you make when you sell an asset.

Goods and Services Tax (GST): : kanataup gavamakkunnginnut taksijarutiit piqutinut pijissirarutinullu:

taxe sur les produits et services: Extra money that the government says you haveto pay for things or services that you buy. It is a certain percentage or share ofthe price of the thing or service that youre buying.

Income tax: : kiinaujjasaanit piijaqtaujutgavamakkunit: impt sur le revenu: The part of your earnings that you have to payto the government.

Sales tax: : niuvirniqmut taksiijakkanniruti: taxe de vente: Theextra amount you have to pay when you buy something, in addition to the actualprice. It is a certain percentage or share of the price. In Ottawa, you have to pay

8% sales tax on almost everything you buy, and you have to pay GST too.

Tax Avoidance: : taksijaqtailimaniq: vasion fiscale

When a person or business tries to avoid paying full taxes by using various legalways of proving that they didnt really earn much money.

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Tax Credit: : taksiijarutaujunut ilanngaqsigiaruti:crdit dimpt

An amount that you are allowed to subtract from the taxes youre supposed topay.

Tax Deduction: : taksijarviuniq: dduction dimptAn amount that you can subtract off your taxes.

Tax Return: : utiqtussat: dclaration dimpt

The government form or paper on which you figure out how much tax you aresupposed to pay.

Tax Schedules: : taksiijarutisanut iluliqtangit: tablesdimpt

The different groups that taxable income is put into. Different kinds of income anddifferent amounts of income are taxed at different rates. The tax schedule showswhat amount of tax you should be paying.

Taxable: : taksiijjutaujarialit: taxable, imposable

When something is supposed to be taxed.

Taxable Benefits: : taksiijarnimmu ikajutissat: bnficesimposables

Certain amounts of money, or certain services, that your employer gives you in

addition to your pay. For example, a VTA (Vacation Travel Allowance) or a dentalcare program are things that can be taxed.

Taxable Income: : kiinaujaliurnimmut taksiijarutissat:revenu imposable

The part of your income that you are supposed to pay taxes on. You dont paytaxes on everything that you earn.

Temporary Account: : isulittarvilik: compte temporaire

An account that is closed at the end of each accounting period. Same as anominal account.

Transaction: : tauqsiiniq kiinaujatigut: opration, transaction

A business activity where some thing or some service is traded, usually for money.One person gives the thing or the service, the other person pays for it.

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Trial Balance: : isiqpaliajunutanivalliajunullu naliriitittisimajjuti: balance de vrification

Showing that the debits and credits in an account are equal.

Trust Fund: : tuqquqtausimajut kiinaujaqutit: fonds enfiducie

An amount of money that is given to a person, but the person doesnt have controlof the money. Someone else manages it and has to approve what is spent. Whenthe rich man died, he left a t rust fund fo r his young son . The son d id not get

cont rol of t he money unti l he was 21 years old.

V

Variable: : asijjitaqtuq: variable

When something changes back and forth.Sales of boot s are variable, depending on

how wet t he weat her is.

Variable Costs: : asijjitaqtuq akissaq: frais variables

When the amount of money you have to pay out for something changes, dependingon how much you do, or how much you use. Buying sealskins was a variable cost,depending on how many pairs of kamiks needed to be made.

Variance: : ajigiinnginniq: cart

A disagreement or difference. The act ual cost of t he TV was at variance with what

it had been advertised for.Vendor: : niuviqtittiji: vendeur

A seller. The person who sells something.

Void: : atunngittuq: nul

Not useable; not legally acceptable.

Void a cheque: : sikkilianguniku aturunniiqtillugu: annulerun chque: To draw a line across the front of a cheque and write the word void,

to show that this cheque cannot be cashed.Volume: /: unurniit/amisuuniit: volume

How much of something there is. The volume of sales was up from last year.

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Voucher: :akiliqtausimaniraijjut: pice justificative

1. A written paper that can be exchanged for some thing or some service. One ofthe raffle prizes was a voucher for two plane tickets to O tt awa.

2. A business paper that is used to keep track of other papers which are usedwhen the business spends money. Using the voucher, a business can make surethat everything is properly done. For example, the voucher could includeinformation about purchase requisitions, purchase orders, and invoices.

W

Wages: : kiinaujjaksaat: salaires

The amount of money you are paid on a job. Same as salary.

Wholesale: : iluittuutaunaaqtugit niuvirniq: vente engros

Buying a lot of things from the companies that make them, so that you can sellthem to the public.

Wholesale Price: : iluittuunaaqtirinirmut akigititaq:prix de gros

The price the business pays for the things it sells, when it buys them from themaker.

Withdraw: 1. 2. :1. kiinaujakkuviqutigijami kiinaujaruqtittijuq 2. qujanaaqsinniq: retirer

1. To take money out of an account.2. To pull back or pull away. He decided to withdraw his offer to buy the house.

Withdrawals: 1. 2. : 1. kiinaujakkuviqutigijami kiinaujaruqtittiniq2. namminiqaqtiup kiinaujani piqutinilluunni piqsininga: retraits

1. Money taken out of a bank account.2. Money or assets taken out of a business by the owner.

Withdrawals Account: : nangminiliup

piijauvvigijunnaqtangit:compte des prlvementsAn account that is set up to keep track of the money that the owner takes out ofthe business.

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Working Capital: : kiinaujat aulajjutiksat: fonds de roulement

The money that is available to a business for the day-to-day running of thebusiness. It is what you have left after you have subtracted current liabilities fromthe current assets.

Write Off: : qujanaaqtaujuq: radier, annuler1. To cancel a bad debt (a debt that wont be paid back) from the accounts.2. To remove an asset (something that the business owns) that isnt valuable or

useful anymore from the accounts.3. To subtract a little bit from the profits in order to cover the cost of

depreciation (becoming less valuable) of something the business owns.

Documents

Compt Account