Unit 12 Vocabulary — International Accounting (US vs UK)

Adjective
Accurate
free from error, careful
Make sure the figures are accurate before submitting the tax return.
Noun (thing)
Allowance for uncollectable accounts
a contra asset account recording debts which may not be collected
We need to post that debt to the allowance for uncollectable accounts as the company has gone into receivership and we probably won't be paid.
Verb (infinitive)
Amend
to improve by correcting existing information
The entry was posted to the wrong account so the account had to be amended.

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