To pass this unit, please study the 20 vocabulary words below.
- Anticipate
- Appreciable
- Attributable to
- Bottom-line
- Breakeven point
- Budget
- Classify
- Cost accounting
- Cost reduction
- Costs incurred
- Feasibility
- Implement
- Matching principle
- Notional
- Opportunity costs
- Overall
- Project
- Relative
- Successive
- Underlying
Verb (infinitive)
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to imagine or expect that something will happen
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"Shareholders are anticipating a record dividend payment this year."
Adjective
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large or noticeable enough to have a significant effect
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"The crisis has had an appreciable effect on the financial market."
Verb (infinitive)
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caused by or connected to
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"The company's success is attributable to the new CEO's leadership."
Noun (place)
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the final line in the accounts, the net profit or loss made by a company
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"The CFO is working on minimizing the effects of the scandal on the bottom-line."
Noun (thing)
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the figure at which neither profit nor loss is made
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"By calculating the cost of production, we found the breakeven point of $5.35 per item."
Proper noun (thing)
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a plan that shows how much money you have or will have, and what it will be spent on
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"Corporate planners are preparing the budget for the next financial year."
Verb (infinitive)
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to divide things into groups according to their type
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"Costs are classified into two groups, direct and indirect."
Noun (thing)
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the process in which all costs are examined
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"Most large companies use cost accounting to help save money and maximize efficiency."
Noun (thing)
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the process of minimizing any expenses due from direct business activity
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"In times of hardship, cost reduction is essential to a company's success."
Noun (thing)
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any expenses due as a direct result of business activity
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"By looking at costs incurred on a particular product, we can see where money can be saved."
Adjective
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the possibility that something can be made, done or achieved or is reasonable
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"The management accountant is looking into the feasibility of outsourcing bookkeeping."
Verb (infinitive)
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to put into effect
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"The new legislation will be implemented next year."
Noun (thing)
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the idea that expenses should be allocated to a revenue stream where possible
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"The matching principle should be followed in order to reach accurate net income figures."
Adjective
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existing as an idea or as an approximate amount
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"I'm sorry, I cannot give you an exact figure, but the notional amount is 560,000."
Noun (thing)
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the imagined loss made due to not following a certain course of action
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"We cannot afford to expand into both markets so please find out the opportunity cost of expanding into Iran instead of Iraq."
Adjective
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in general rather than in particular
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"We need to study the overall costs and locate an area in which savings can be made."
Verb (infinitive)
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to calculate an amount or figure expected in the future based on information in the present
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"The financial team projected net earnings of over $750,000, if it happens it will be a record for the company"
Adjective
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as judged or measured in comparison with something else
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"Taking the two ideas into consideration, the relative merits of the first are clear."
Adjective
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happening one after another
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"The company has made successive losses in the past five years."
Adjective
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real but not immediately visible
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"Investments are made by evaluating the underlying value."