Accountant's Glossary

Accountant's Glossary

Here at PSVS we are in the trenches every day helping you navigate your way through the various complexities of your accounting-related activities. It is easy to forget that not everyone knows all the accounting-specific terminology we use daily.

We have created this fairly comprehensive glossary to supplement your knowledge and understanding and hopefully answer some of your questions.

Of course, if you have any additional questions send us an email or give us a call: (650) 578-1200.

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W-2 (form)

A form that provides the employee with a summary of earnings and amounts withheld for federal, state, and local taxes; also called a wage and tax statement.

W-3 (form)

The Transmittal of Wage and Tax Statements, filed with the federal government to summarize the information contained on the employees' Forms W-2.


An amount of money paid to an employee at a specified rate per hour worked.

Wash Sale

A stock transaction in which the person sells or trades stock or securities at a loss and, within 30 days before or after the sale, acquires substantially identical stock or securities, either directly or through an option.

Weighted Average Cost Method

An inventory costing method in which all purchases of an item are added to the beginning inventory of that item; the total cost is then divided by the total units to obtain the average cost per unit.


A business that sells to retailers.

Wilma GO Zone

The portion of the Hurricane Wilma disaster area determined by the President before November 14, 2005, to warrant individual or individual and public assistance from the federal government under the Robert T. Stafford Disaster Relief and Emergency Assistance Act by reason of Hurricane Wilma.


The removal of cash or another asset from the business by the owner for personal uuse.

Work Sheet

A working paper used to collect information from ledger accounts for use in completing end-of-fiscal-period work.

Working Capital

The amount by which current assets exceed current liabilities.

For Individuals

For Business

General Services

Real Estate


Advisory Services

Financial Services

Risk Management