When it comes to finance, different countries, territories and even companies use completely different words to mean the same thing or the same word to mean different things. Here we provide a short summary of the key terms, their definitions and their common synonyms.
This nugget was created by Ben Graziano.
Although the most important thing is to understand the underlying concepts in finance, it is also essential to understand the most common jargon and to challenge others to explain what they mean when they use terms ambiguously. For example, income, expenses and amortisation can all have different meanings in different contexts. Here is a short summary of the key terms, their definitions and their common synonyms.