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Vocabulary --> Financing and Budgeting --> Financial statements --> Word to learn

Study the following definitions and examples.


1.      desire v., to wish for

a.      We desire to have our own home.

b.      He desires to retire when he becomes forty.


2.      detail v., to report or relate minutely or in particulars

a.     The office manager detailed each step of the inventory process at the staff meeting.

b.     Fabio created a financial statement that detailed every expected expendi­ture for the next quarter.


3.      forecast n., a prediction of a future event; v., to estimate or calculate in advance

a.     The financial forecast indicates a deficit in the next quarter.

b.     Analysts forecast a strong economic outlook.


4.      level n., a relative position or rank on a scale

a.     We have never had an accountant work at such a sophisticated level before.

b.     The meeting was only open to staff at the assistant director level or higher.


5.      overall adj., regarded as a whole; general

a.      The company's overall expectations were out of proportion.

b.      Overall, our costs are running true to prediction.


6.          perspective n., a mental view or outlook

a.     The budget statement will give the manager some perspective on where the costs of running the business are to be found.

b.     Joseph's accountant gave him some perspective as well as some data on how much he could expect to earn in his first year in business.


7.      project v., to estimate or predict

a.     We need to project our earnings and expenses in order to plan next year's budget.

b.     The director projects that the company will need to hire ten new employees this year.


8.      realistic adj., tending to or expressing an awareness of things as they really are

a.      Stefano found that an accurate accounting gave him a realistic idea of his business's financial direction.

b.      Realistic expectations are important when you review your financial statements.


9.          target v., to establish as a goal; n., a goal

a.     We targeted March as the deadline for completing the financial statement.

b.     Most managers target desired income as the primary criterion for success.


10.     translation n., the act or process of translating

a.     The translation of the statement from Japanese into English was very helpful.

b.     The accountant was able to provide a translation of the economic terms used in the meeting.


11.     typically adv., acting in conformity to a type; characteristically

a.     Office expenses typically include such things as salaries, rent, and office supplies.

b.     The director typically dominates the staff meetings.


12.     yield n., an amount produced; v., to produce a profit

a.      Henry's budget gave him the desired yield: a better indication of his expected profit.

b.      The company's investment yielded high returns.

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