Ricky Zhao's Words

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Key Words

	Key Word	Source	Definition
39	Equation Analysis Sheet	Syme, George, and Tim Ireland. Accounting 1. Sixth Edition. Toronto, Ontario: Pearson Education Canada, 2002. Pg. 53. Print.	A type of record keeping method that is ideal for studying and recording changes in financial positions. This is not to be confused with “balance sheet” since an equation analysis sheet is in a different format and a person can clearly see the fundamental accounting equation (Assets = Liability + Owner’s Equity)
78	UFE	"The UFE | Chartered Accountants of Canada." Chartered Accountants of Canada. CICA, 2009. Web. 19 Sep 2010. <http://www.cica.ca/become-a-ca/the-ufe/index.aspx>.	Abbreviation for Uniform Evaluation. This is a three day test that assesses Charted Accountant (CA) Students’ knowledge, professional judgement and ethics. This is a test that is required to become an internationally recognized Chartered Accountant.
110	A/P	Syme, George, and Tim Ireland. Accounting 1. Sixth Edition. Toronto, Ontario: Pearson Education Canada, 2002. Pg. 53. Print.	Abbreviation for “Accounts Payable”
142	Accounts Payable	Syme, George, and Tim Ireland. Accounting 1. Sixth Edition. Toronto, Ontario: Pearson Education Canada, 2002. Pg. 768. Print.	The money that a business owes to its creditors. This money is a liability of the business.

 

Topic Choice Words

Word	Source	Definition	Sentence
Distressed Asset	"distressed asset definition from Financial | Times Lexicon." Financial Times Lexicon. Financial Times Lexicon, 2009. Web. 19 Sep 2010. <http://lexicon.ft.com/term.asp?t=distressed-asset>.	An asset that is put on sale, usually at a cheap price, because its owner is forced to sell it. There could be various reasons for this, including bankruptcy, excessive debt and regulatory constraints. Debt itself can be sold on to a new owner at below face value (distressed debt).	The company was forced to sell the factory, a distressed asset due to bankruptcy.
Insolvency	"insolvency legal definition of insolvency. insolvency synonyms by the Free Online Law Dictionary." the Free Online Law Dictionary. Farlex Inc., 2008. Web. 19 Sep 2010. <http://legal-dictionary.thefreedictionary.com/insolvency>.	An incapacity to pay debts upon the date when they become due in the ordinary course of business; the condition of an individual whose property and assets are inadequate to discharge the person's debts.	I went into bankruptcy due to insolvency.
secured creditor	"secured creditor definition." BusinessDictionary.com - Online Business Dictionary. WebFinance, Inc, 2010. Web. 19 Sep 2010. <http://www.businessdictionary.com/definition/secured-creditor.html>.	Lender who holds legally enforceable claim on a borrower's asset(s) of a liquidation value equal to or greater than the loan amount. Secured creditors are entitled to receive the proceeds of the foreclosure sale of the pledged asset(s) and, in case of a bankruptcy, must be satisfied before the unsecured creditor(s).	Since I owe a lot of money to my lenders, and my company has been shut down due to bankruptcy, I had to play the secured creditors first.