Earnings per share:
- Refers to the portion of a company's profit that is allocated to each outstanding share of common stock
- Calculated by dividing the company's net income by the total number of outstanding shares

First in first out (FIFO):
- An inventory accounting method where the first items purchased are assumed to be the first sold
- Assumes that the cost of goods sold (COGS) is based on the oldest inventory in stock

Generally Acceptable Accounting Policy (GAAP):
- A set of guidelines and standards for financial accounting and reporting
- Regulates how financial statements are prepared and presented to ensure consistency and accuracy across organizations

Operating expenses and non-operating expenses:
- Operating expenses are costs incurred in the regular course of business operations (e.g. rent, utilities, salaries, etc.)
- Non-operating expenses are costs not directly related to business operations (e.g. interest on loans, impairments, etc.)

Operating income and non-operating income:
- Operating income is the profit earned from regular business operations
- Non-operating income is revenue earned from activities not related to regular business operations (e.g. investments, asset sales, etc.)

Outstanding expenses:
- Refers to expenses that have been incurred but not yet paid
- Recorded as a liability on the balance sheet until paid

Peace mill distribution:
- A method of dividend distribution where dividends are paid out in small amounts over a period of time
- Typically used when a company has limited cash reserves or wants to maintain a consistent dividend payout over time

Quick ratio:
- A measure of a company's ability to meet short-term financial obligations
- Calculated by dividing quick assets (cash, accounts receivable, marketable securities) by current liabilities

Quick assets:
- Assets that can be easily converted to cash
- Includes cash, accounts receivable, and marketable securities

Quick liability:
- Short-term financial obligations that must be paid within a year
- Includes accounts payable, taxes, and short-term loans

Weighted average cost:
- A method of inventory accounting where the cost of goods sold is based on the weighted average cost of all inventory items

Work in progress:
- Inventory that is in the process of being manufactured or assembled
- Recorded on the balance sheet as an asset until completed

Working capital:
- The difference between a company's current assets and current liabilities
- Represents the amount of funds available for day-to-day operations

Written down value methods:
- A method of asset depreciation where the asset's value is gradually reduced over time
- Includes methods such as straight-line depreciation and declining balance depreciation

Specific identification method:
- An inventory accounting method where each item in inventory is tracked and assigned a specific cost
- Used for luxury or high-value items with unique characteristics

Unsecured loan:
- A loan that is not backed by collateral
- Typically comes with higher interest rates and stricter repayment terms due to higher risk for the lender