As an AI language model, I can provide you with a comprehensive list of accounting-related abbreviations and their full forms. Here are some of the most common ones:
GAAP – Generally Accepted Accounting Principles
IFRS – International Financial Reporting Standards
CPA – Certified Public Accountant
IRS – Internal Revenue Service
AICPA – American Institute of Certified Public Accountants
SEC – Securities and Exchange Commission
FASB – Financial Accounting Standards Board
AP – Accounts Payable
AR – Accounts Receivable
COGS – Cost of Goods Sold
EBITDA – Earnings Before Interest, Taxes, Depreciation, and Amortization
EPS – Earnings Per Share
FIFO – First In, First Out
LIFO – Last In, First Out
P&L – Profit and Loss
ROI – Return on Investment
ROA – Return on Assets
ROE – Return on Equity
T-Account – Trial Balance Account
YTD – Year to Date
These are just a few of the many accounting-related abbreviations that are used in the industry. It’s important to understand their full forms to avoid confusion and ensure accuracy in financial reporting.