-

-

English-Russian Glossary of the
Microfinance Terms
2008 / June 2008

()

CGAP
The Glossary was prepared by the Microfinance Centre (MFC) for Central and Eastern
Europe and the New Independent States under the CGAP grant.

- , HOPE International
, ,
,
The terminology was translated by Andre Barkov, Ukraine & Russia Country Director, HOPE
International, consulted with Margarita Lalayan, Consultant, MFC and Rakhat Uraimova,
Training and Consulting Manager, MFC

A
absorption accounting
Equivalent: full-cost accounting.

accelerated depreciation

acceleration of maturity
Equivalent: prematuring.

account

account balance

, ,

account entry
Equivalents: accounting entry, entry, journal entry.

accountancy
Equivalent: accounting.

accountant

accounting

accounting and internal control system

accounting base

accounting entry
Equivalents: account entry, journal entry, entry.

accounting period

accounting practice

accounting prescriptions

accounting standard

accounts payable (balance sheet liability account)

( ,
)

accounts receivable (balance sheet, asset account)

( ,
)

accrual accounting
accruals (accrual accounting)

, ,
e ( );
,

(.. ,
, )
, ,
,
,
.

-
accrued depreciation (balance sheet, asset account)
Equivalent: accumulated depreciation.

()
( , )

accrued expense (accrual accounting, balance sheet,

liability account)

( ,
, )

accrued income (accrual accounting, balance sheet,

liability account)

( ,
, )

Equivalent: accrued revenue.

accrued interest

( )

accrued revenue (accrual accounting, balance sheet,

liability account)

( ,
, )

accumulated depreciation (balance sheet, asset

account)
Equivalent: accrued depreciation.

( , )

accumulated profit
Equivalent: earned surplus.

accumulated reserves (balance sheet)

Equivalent: reserves.

( )

accumulating savings and credit association (ASCA) ,

-
,
acid-test ratio
(
Equivalent: quick ratio.
)

,
acquisition cost
Equivalent: historical cost.

active client

, (
)

active loan

()

active savings account

actual amount

actual cost

actual loss

actuary (insurance)

()

additional credit

adjustable rate

(, )

adjusted cost of capital

(
)
( )

active borrower

adjusted income
adjusted income statement
adjusted interest rate
adjusted operating profit

(
)
(
)

( )
3

adjusted return on assets (AROA)

adjusted return on equity (AROE)
adjusted trial balance
Equivalent: post-closing trial balance.
adjusting account
adjusting entry
Equivalent: closing entry.
adjustment

( )

( )

,
, ,

administrative efficiency

administrative expense

administrative expense rate

advance account

advance deposit

advance deposit requirement

advance repayment
Equivalents: payment in advance, prepayment,
repayment in advance.

advances to employees (balance sheet, asset account)

adverse opinion (audit)

( ,
)
()

adverse selection

age-accrued interest (accrual accounting)

( )
( )
,
()
, , ,

age the portfolio, to (verb)

aged portfolio
Equivalents: aging of the portfolio, aging portfolio
balance, portfolio aging.
aging categories (aging of loans)

( ) ( )

aging of delinquency

,
,

aging of loans

, ,

, ,
,

aging of the portfolio

aging portfolio balance

aging schedule

aging the portfolio

()

agreed-upon procedure (audit)

-
agricultural microfinance

allocate

()

allocation of loan proceeds

()

allocation of net income

allocation of profits
Equivalent: appropriation of profits.

allocation of resources

()

amortization (asset) generic term

()

amortization expense (income statement, expense

account)

( ,
)

amortization of a loan

amortization schedule (of a loan)

Equivalents: repayment schedule, repayment plan
(for a loan).

amortize a loan

(, ,
)

amortized principal (loan)

()
, ,
(.)
,

amount outstanding
analysis grid
annual depreciation of donated funds for fixed
assets

()
()

annual general meeting

()

annualization

( )

annualized interest rate

()

annualized percentage rate (APR)

An interest rate comprised of interest, commissions,
and other costs that is expressed on an annualized
basis.

,

, ,
,

annuity

apex (institution)

apex funds

applicable financial reporting framework

Equivalents: standards for financial reporting,
financial standards.

application for membership

application for withdrawal

()

application of funds (financing plan)

( )

appraisal

appropriation of profits
Equivalent: allocation of profits.

APR (annualized percentage rate)

An interest rate comprised of interest, commissions,
and other costs that is expressed in an annual value.

, ,
,

area of risk

AROA (adjusted return on assets)

AROE (adjusted return on equity)

arrears
Generic term for loans that have not been repaid on
time; can be used for late payments, overdue
payments, past due payments, and delinquent
payments.

,
.

, .

arrears rate
Equivalents: delinquency ratio, delinquency rate,

past-due rate.

.
The arrears rate is calculated by dividing the amount
of arrears (or late payments) by the average
outstanding loan balance.
ASCA (accumulating savings and credit association) - ,
assessment

asset (balance sheet)

( )

asset account

asset and liability management

asset and liability matching

asset quality

asset utilization
Equivalent: return on assets (ROA).

,
,

associated cost

assumption

auction ROSCA (rotating savings and credit

association)
A type of ROSCA.

(ROSCA -
)

audit (accounting)

( )

audit committee

audit evidence

audit of the financial statement

audit report

audit risk

-
audit trail

,
(

,
).

audited financial statements

auditing standards

auditor

average cost of debt

Equivalent: average cost of funds.

average cost of funds

average loan term

average outstanding balance of loans

B
back office
Also used as an adjective, such as back-office
operations.

, ,
.
,

back-office transactions

bad debt
Equivalents: defaulted loan, doubtful loan.

: ,
.

badwill

balance

, ,

balance an account
Equivalent: clear an account.

()

balance brought forward

Equivalent: opening balance.

balance carried forward

Equivalent: closing balance.

balance on account

balance sheet

balanced accounts

balance sheet account

balance sheet item

balance sheet ratio

balancing subsidy

balloon loan

balloon payment
Equivalent: single end-of-term payment.

bank and investment income

bank book

bank charges
Equivalent: bank commissions and fees.

bank commissions and fees

bank current account

bank interest

-
bank rate
Equivalent: discount rate.

, .

bank reconciliation

bank reconciliation procedure

bank statement

bank supervision

bank supervisors

bankable

banking authorities

base cost
Equivalent: baseline cost.

, ,
,

base interest rate

baseline cost

, ,
,

baseline data

basic information

below-market interest rate

benchmark

benchmarking

,
.

beneficiary

benefits

; , ;

bias

bid

bill of exchange

board (management)

(, ) ()

book value

, -

bookkeeper

bookkeeping

borrower

borrower in default
Equivalent: defaulter.

, ,
()

borrowing capacity
Equivalent: debt capacity.

borrowing cost

borrowing requirement

branch
Equivalent: branch office.

branch office

branchless banking

,
,
,
,

branch-level staff

()

break even (verb)

break-even analysis

break-even point

bridging credit
Equivalent: bridging facility.

, :

bridging facility

, :

budget request

budget variance

budgetary aid

budgetary surplus

budgeted amount
This term is used when comparing a projected
budget with an actual budget.

,
,
.

buildings (balance sheet account, asset account)

, ( ,
)

burial fund

business accounting

business development services

Equivalent: enterprise development services.

(), -

business operator
business plan

business planning

business risk
Equivalent: operating risk.

-, ,

C
calculation of reserve
Equivalent: reserve calculation.

CAMEL
Capital adequacy Asset quality Management
Earnings Liquidity
An MFI evaluation system developed by ACCION
International.

CAMEL (
- ,
, (),
, )
, (
)
ACCION International.

cancelled debt

cannibalization
capacity building

capacity to reimburse
Equivalents: capacity to repay, repayment ability,
repayment capacity.

, ,

capacity to repay

capital adequacy

()

capital asset
Equivalents: permanent asset, fixed asset.

()

capital cost allowance

capital equipment
Equivalent: capital goods.

capital expenditure

capital formation

capital gain

capital goods

capital grant
Equivalent: donated equity.

capital lease

capital requirements

() ,

capital-adequacy ratio
Equivalents: working-capital ratio, current ratio.
capital-adequacy report

()

capitalization

capitalization rate

capitalize

card-reading device
cash (balance sheet, asset account)
Equivalent: cash assets.
cash account

, ,
( , )

11

cash accounting
Equivalent: cash-basis accounting.

cash advance

cash and cash due from banks

cash and cash equivalents

Equivalent: cash and near cash.

cash and near cash

, ,
-

cash assets (balance sheet, asset account)

, ,
( , )

cash balance

cash book
Equivalent: cash journal.

cash box

cash budget

cash control
Equivalent: cash count.

(),

cash count

(),

cash credit

, (
)

cash deficit

cash donation
Equivalent: cash grant, cash subsidies.

cash due from banks

Equivalent: cash in bank.

cash equivalent (balance sheet, asset account)

( ,
)

cash expense

cash flow

cash flow after investments

cash flow from operations

Equivalents: funds provided from operating
activities, operating cash flow.

cash grant
Equivalents: cash donation, cash subsidies.

cash in bank
Equivalent: cash due from banks.

cash in bank and near cash

cash in hand
Equivalent: cash on hand.

cash in vault

-
cash inflow

cash input

cash journal
Equivalent: cash book.

cash management
Equivalent: liquidity management.

cash on hand
Equivalent: cash in hand.

cash outflow

cash payment

cash position

cash projection
Equivalent: cash flow projection.

cash subsidies
Equivalents: cash donation, cash grant.

cash suspense account

cash-basis accounting

cash-disbursements journal

cash flow analysis

cash flow patterns

cash flow projection

Equivalent: cash projection.

(
)

cash flow review

cash flow statement

Equivalent: statement of change in financial
position.

cashier

cash-receipt journal

()

CD (certificate of deposit)

central bank

certificate of deposit (CD)

certify financial statements (audit)

()

chains (ROSCA chains) (credit)

()
(ROSCA)

change in equity position

change in working capital

character-based lending

chart of accounts

checking account
Equivalent: current account.

checks and balances

-
13

chief accountant

chief financial officer (CFO)

Equivalents: financial officer, financial director.

chief operations officer (COO)

, :

chit fund
A type of rotating savings and credit association
(ROSCA) found in India.

(chit fund)

,
.

cleaning the data (survey)

,
( )
()

clear an account
Equivalent: balance an account.

clearinghouse

client attrition
Equivalents: desertion, client loss.

, ,

client exit survey

() ,

client impact tracking system

client loss

client outreach

client retention rate

Equivalent: retention rate.

client screening
client-focused
closed question (survey)

closing balance
Equivalent: balance carried forward.

closing cost

()

closing date (accounting)

,
( )

closing entry
Equivalent: adjusting entry.

, ,

cluster sampling (survey)

()

collateral

collateral
Equivalents: security, guarantee.

, , ,

collateral savings

collateral substitute

collection

, ,

()

-
collective guarantee
Equivalents: group guarantee, peer-lending
guarantee.

combined cost of funds

commercial borrowing
Equivalent: commercial loan.

(),

commercial funding

commercial loan

commercial paper

commercial terms
Equivalent: market rate.

commission

commission an audit

commissions and fees

community banking

community development

community participation

comparison group

compensating balance

compound factor
Equivalent: compounding factor.

()

compound interest

compound rate of growth

compounded interest rate

compounding factor

()

comprehensive planning

compulsory savings
Equivalents: obligatory savings, forced savings,
mandatory savings.

concessional loan
Equivalent: soft loan.

conservation principle
Equivalent: conservatism.

conservatism

consolidate maturities

consolidated balance sheet

consolidated financial statement

consolidated income statement

consolidated loss

15

consolidated profit

constant currency terms

consumer credit

consumption smoothing

contingency fund
Equivalent: contingency scheme.

contingency reserve

contingency savings
Equivalent: precautionary savings.

contingency scheme

contribution margin

control (i.e., management control)

(, )

control environment

control group
In an evaluation process, control group designates
the group that is not receiving services, as opposed
to the treatment group.

,
.

control risk (audit)

()

controller
Equivalent: management controller.

, ,

COO (chief operations officer)

core expenditures

corporate body (legal)

Equivalent: corporation.

, , ()

corporation (legal)

, , ()

cosigner

, , ,
,

cost accounting

cost allocation

cost center

cost containment

cost control

cost efficiency

cost estimate

cost of capital

cost of debt

cost of funds

-
cost of operations

cost of portfolio administration

cost per $ lent

cost per loan made

cost ratio
Equivalent: cost structure.

cost recovery

cost sharing

cost structure

cost-benefit analysis

[
], ",

cost-effective

cost-effectiveness

costing

cost-of-funds subsidy
Equivalent: subsidy for cost of funds.

cost-volume-profit analysis

"--"

covariance risk
A risk that exists when the majority of clients work
in the same economic sector.

, ,

.

coverage rate
Equivalent: coverage ratio.

coverage ratio

credit activity

credit availability

credit balance

() ,

credit bureau
Equivalent: credit information bureau.

credit ceiling
Equivalent: credit limit.

, ,

credit cooperative

credit delivery

credit facilities

credit history

credit information bureau

credit limit

credit line
Equivalent: line of credit.

17

credit manager

credit officer
Equivalent: loan officer.

, ,

credit policy

credit rating

credit rating
Equivalent: rating.

credit rating agency

credit risk

credit scheme

credit scoring
Equivalents: scoring, loan scoring.
Credit scoring is a statistical technique used by
financial institutions to decide whether or not to
extend credit.

,

.

credit to microenterprises

credit union
Equivalents: savings and credit cooperative
(SACCO), savings and credit union.

credit-delivery model

credit-in-kind

creditor

creditworthiness
Equivalent: solvency.

creditworthy

critical path (PERT method)

( PERT -
)

critical-path method

crop credit
Equivalent: seasonal credit.

crop insurance

cross-tabulation table (statistical analysis)

( )

cross tabulation

crossover discount rate

Equivalent: equalizing discount rate.

cross-sectional design

currency gap

currency matching

currency risk
Equivalents: exchange risk, foreign-exchange risk.

currency-gap ratio

currency-gap risk

-
current account
Equivalent: checking account.

current asset

current collection rate

Equivalent: current repayment rate.

current cost
Equivalent: replacement cost.

current debt
Equivalents: current liabilities, short-term debt,
short-term liabilities.

current liabilities

current loan
Equivalent: healthy loan.

current ratio
Equivalents: working-capital ratio, capital-adequacy
ratio.

current repayment rate

current terms, in (accounting)

( )

current value
Equivalents: present value, current worth.

current worth

current year

customized system

, ,

cutoff

, ,

,
.

19

D
daily balancing

data

data coding

data collection

database

database software

DCF (discounted cash flow) method

debit balance

debt

debt capacity
Equivalent: borrowing capacity.

debt directing
Equivalent: targeted lending.

debt financing

debt maturity

debt pardoning scheme

debt service

: .

debtor

debt-to-equity ratio

decapitalization
decision tree

declining balances

declining-balance method

1) ,

()
2)
( )

1) (depreciation method)
2) A method of calculating interest on capital that
remains due (known as the declining balance).
(interest rate calculation)
dedicated fee

()

deductible expense

default
Equivalent: insolvency.

defaulted loan
Equivalent: doubtful loan, bad debt.

defaulter
Equivalent: borrower in default.

,
,

-
deferred charge (balance sheet, asset account)
Equivalent: deferred expense.

,
( , )

deferred depreciation

deferred expense (balance sheet, asset account)

( ,
)

deferred income (balance sheet, liability account)

Equivalent: deferred revenue.

( ,
)

deferred interests (balance sheet)

( )

deferred revenue (balance sheet, liability account)

( ,
)
deferred income .

deficiency

deflate

deflation

deflator

delinquency

delinquency measurement

,
delinquency rate
Equivalents: arrears rate, delinquency ratio, past-due

rate.

.
The delinquency rate is calculated by dividing the
amount of arrears (or late payments) by the average
outstanding loan balance.
delinquency ratio

delinquency report

delinquent client
Equivalent: late client.

delinquent client report

delinquent loan
Equivalents: loan in arrears, overdue loan, past-due
loan.

delinquent loan follow-up report

delinquent payment
Equivalents: late payment, overdue payment,
payment in arrears.

delinquency ratio

delivery mechanism

delivery of financial services

Equivalent: provision of financial services.

demand deposit
Equivalent: sight deposit.

deposit

21

deposit certificate

deposit collector

( )

deposit insurance

deposit rate

depositor

depreciable amount

depreciable life
Equivalent: economic life.

depreciation (asset) generic term

depreciation expense (income statement, expense

account)

,
( , )
.

depth of outreach (of the services of an MFI)

Refers to the poverty level of MFI clients.
See also outreach and scale of outreach.

( )
.
, .

DER (direct expense ratio) (cost allocation)

(
/ )

descriptive account number

desertion
Equivalent: client loss, client attrition.

, , ()

desertion rate
Equivalent: dropout rate.

designated funds

(
)

detailed balance sheet

detailed income statement

detection risk (audit)

, ()

direct administrative expense ratio (cost allocation)

( )

direct cost

direct costing (method)

()

direct expense ratio (DER) (cost allocation)

(/ )

direct targeting

directed conversation (survey)

() ()

disburse a loan

disbursed loan
Equivalent: loan disbursed.

disbursement

disclaimer of opinion (audit)

()

disclosure (financial)

-
discount

discount factor

discount rate
Equivalent: bank rate.

discounted cash flow

()

discounted cash flow (DCF) method

discussion guide

disposal of assets

dissavings

distribute costs among (accounting categories)

(
, )

dividend per share

domain of impact
Equivalent: impact area.

donated capital
Equivalent: equity grant.

, ,

donated commodities or services

donated equity
Equivalent: capital grant.

, ,

donations-and-grants ratio

donor

dormant savings account

()

double-barreled question (survey)

()

double-check (noun)

double-entry bookkeeping
Equivalent: double-entry system.

double-entry system

doubtful loan
Equivalents: defaulted loan, bad debt.

downscaling

,
,

dropout rate
Equivalent: desertion rate.

dropouts

due to be repaid (in)

Example: due to be repaid in 2003.

: 2003 .

23

E
earned income

earned surplus
Equivalent: accumulated profit.

earning asset
Equivalent: productive asset, performing asset.

, ,

earnings
Equivalent: profits.

economic life
Equivalent: depreciable life.

effective interest rate

efficiency

efficiency indicator

eligibility (for a loan)

eligibility conditions

,
( )

empowerment

end-of-year balance

enforce a penalty

engagement letter

engagement risk (audit)

()

enterprise development services

Equivalent: business development services.

(), -

entry (accounting)
, ( )
Equivalents: account entry, accounting entry, journal
entry.
equal payments of principal

equalizing discount rate

Equivalent: crossover discount rate.

equilibrium income

equipment

equipment account

equipment depreciation

equipment leasing

equipment maintenance

equipment rental

-
,
equity
Equivalents: shareholder capital, shareholder equity,
shareholder funds, stockholder equity, owner equity,
owners equity.
equity account

equity capital

equity financing
Equivalent: equity investment.

,
,

equity grant
Equivalent: donated capital.

, ,

equity investment

,
,

equity multiplier

equity plus medium-and long-term debt

Equivalents: investment capital, invested capital.

ex post review

excess cash
excess liquidity

()

excess of income over expenses

Equivalents: net profit, net earnings.

exchange premium

exchange risk
Equivalents: foreign-exchange risk, currency risk.

exchange-rate differential

excluding grants (accounting)

Example: Internal rate of return: 16% (excluding
grants).

, (
)
: : 16 %
( ).

executive director
Equivalent: managing director.

expenditure

expense

expense account (income statement)

( )

extend the term of a loan

external audit

external auditor

25

F
face value
Equivalent: par value.

facilitator

fall short by

fee

, ,

fee income

fee-based services

fiduciary risk (audit)

()

field staff
Equivalents: front-line staff, line staff.

field visit

financial analysis

financial assets

financial calculator

financial cooperative

financial cost

financial cost of lending funds

financial director
Equivalents: chief financial officer, financial officer.
financial forecasting

financial indicator

financial intermediary

financial intermediation

financial leverage
Equivalent: leverage.

financial management

financial modeling

financial officer

financial position

financial productivity

financial projection

financial ratio

financial regulation

financial risk

financial self-sufficiency

-
financial spread

financial standards
Equivalents: applicable financial reporting
framework, standards for financial reporting.

financial statement audit

financial statement audit report

financial statements

financial structure

financial supervision

financial sustainability

financial viability

financial year
Equivalent: fiscal year.

financing cost

financing-cost ratio

fiscal year

()

fixed asset
Equivalents: permanent asset, capital asset.

fixed interest

fixed-asset loan

fixed-charge coverage

fixed-term deposit
Equivalents: term deposit, time deposit.

flat method
Equivalent: flat-rate interest method.

flat rate

, ,

flat-rate interest method

floating rate

flow item

flowchart

focus group

focus-group discussion

follow-up loan

food security

forced savings
Equivalent: obligatory savings, compulsory savings,
mandatory savings.

forced-sale value
Equivalent: liquidation value.

,
()
27

foreign currency

foreign-exchange cost

foreign-exchange exposure

foreign-exchange risk
Equivalents: currency risk, exchange risk.

formal financial institution

formal MFI

frequency table

front name

front office
Designates activities involving direct client contact.
Also used as an adjective, such as front-office
activities.

,

.

front-line staff
Equivalents: field staff, line staff.

full-cost accounting
Equivalent: absorption accounting.

fund accounting

funding liabilities

, ,

fundraising

funds

, ,

funds provided from operating activities

Equivalent: cash flow from operations, operating
cash flow.

funeral club

fungibility

fungible

future value

G
GAAP (generally accepted accounting principles)

(
)

gain from currency adjustments

gap analysis

, ()
, ( )

gap ratio

gap report

gap risk

gender analysis

general journal (accounting)

Equivalent: journal.

, ( )

general ledger (accounting)

Equivalent: ledger.

( )

general price-level accounting

Equivalent: price-level accounting.

general treasury fund

generally accepted accounting principles (GAAP)

()

generally accepted auditing standards

ghost loan
Equivalent: phantom loan.

going-concern principle

goodwill

,
( )

governance

grace period

graduated tax

grant
Equivalent: subsidy.

grant income (income statement)

Equivalent: operating subsidy.

(
)

grant income for financial services

gross cash flow (cash flow statement)

(
)

gross financial margin

Equivalent: gross financial result.

gross financial result

gross financial margin .

29

gross margin

group guarantee
Equivalents: collective guarantee, peer-lending
guarantee.

group-based lending

growth indicator

guarantee
Equivalents: collateral, security.

guarantee funds

guarantor

guidance planning
Equivalent: indicative planning.

H
health insurance

healthy loan
Equivalent: current loan.

hidden transaction cost

historical cost
Equivalent: acquisition cost.

historical cost convention

historically valued assets

home bank
Equivalent: piggy bank.

home loan

Honorarium

hot money

household

household budget

household economic portfolio

household economic security

household welfare

housing improvement

housing microfinance
Equivalent: microfinance of housing.

31

I
IAS (international accounting standards)

(
)

IASC (international accounting standards

committee)

, (
)

identified financial reporting framework

idle cash

idle fund

impact

impact analysis

impact area
Equivalent: domain of impact.

impact assessment
Equivalent: impact survey.

impact indicator

impact proxy

impact survey

imprest account

imputed cost of capital

()

in arrears (credits)

, ()

incentive (human resources)

Equivalent: staff incentive.

, ()

incentive scheme
inclusive financial system

()
, ,

1)

income

2)
income account

()

income smoothing (noun)

Often used as an adjective, such as incomesmoothing activities.

income statement
Equivalent: profit-and-loss (P&L) account.

incorporation

incremental cost
Equivalent: marginal cost.

incremental rate of return

in-depth individual interview

-
indexing

indexing factor

indicative planning
Equivalent: guidance planning.

indirect costs
Equivalent: on-costs.

indirect targeting

individual contribution

individual lending

individual loan

induced cost

ineligible for a loan

inflation

inflation accounting

inflation adjustment

inflation index

inflow (accounting)

( )

informal credit

informal financial intermediary

informal insurance scheme

informal provider

infusion of borrowed funds

inherent risk (audit)

()
, .

in-kind reimbursement
Equivalent: payment in kind.

in-kind subsidy

in-service training

insider loan
Equivalent: related-party loan.

, ,
()

insolvency
Equivalent: default.

, ,

installment

institution building (noun)

Often used as an adjective, such as institutionbuilding activities.

institutional assessment

institutional capacity building

institutional loans received

,
33

institutional status

institutional sustainability

insurance fund

insurance policy

insurance premium

intangible assets

,
integrated MFI
,
Equivalent: multi-service MFI.
, ,
This term refers to an MFI that offers financial
,
services in addition to other services, such as

..
enterprise development services, social services, etc.
interest

interest after loan payment (declining- balance

method)

(
)

interest charged on declining balance (declininginterest balance method)

,
(
)

interest charged on initial loan amount (flat-rate

interest method)

,
(
)

interest due

interest in arrears
Equivalent: interest unpaid, unpaid interest.

interest income

interest loss provision (accrual accounting, income

statement)

( ,
)

interest loss reserve (accrual accounting, balance

sheet, asset account)

( ,
, )

interest on loans

interest on overdue payment

Equivalent: moratorium interest, penalty interest.

interest on savings

interest payable (accrual accounting, balance sheet,

liability account)

,
( ,
, )

interest payment

interest rate

interest rebate

interest receivable (accrual accounting, balance

sheet, asset account)

,
( ,
, )

interest spread

()

-
interest unpaid
Equivalent: unpaid interest, interest in arrears.

interest-bearing account

interest-bearing deposit

, ,

interest-rate cap
Equivalent: interest-rate ceiling.

interest-rate ceiling

interest-rate differential

interest-rate margin

interest-rate risk

interest-rate sensibility

internal audit

internal auditor

internal control

internal rate of return (IRR)

().

international accounting standards (IAS)

international accounting standards committee
(IASC)

international standard on auditing (ISA)

()

interviewer

inventory

inventory credit
Equivalent: warehouse-receipt financing.
Inventory credit permits farmers to store their crops
in a warehouse and use them as a guarantee against
credit before they are sold.

, , .

inventory turnover

invested capital
Equivalents: investment capital, equity plus
medium-and long-term debt.

investment bank
Equivalent: merchant bank.

investment budget

investment capital

investment funds

investment grant (balance sheet)

( )

investment income (income statement)

,
( )

35

investment return
Equivalents: investment yield; return on investment,
ROI.

investment yield

investment-income rate

invoice

-,

IRR (internal rate of return)

ISA (international standard on auditing)

issue, to (share or bond) (verb)

(, )

J
joint-liability group
Equivalent: solidarity group.

journal (accounting)
Equivalent: general journal.

, ( )

journal entry
Equivalents: account entry, accounting entry, entry.

journal voucher

, ,

journalize

37

K
key interest rate

L
labor bank

LAN (local area network)

land (balance sheet)

( )

late borrower

,
,

late client
Equivalent: delinquent client.
late fee on loans

late payment
Equivalents: delinquent payment, payment in
arrears, overdue payment.

leading question (survey)

()

lease

leasehold amortization (income statement)

()
( )

leasehold improvements (balance sheet)

( )

leasing

ledger (accounting)
Equivalent: general ledger.

( )

legal entity (legal)

Equivalent: legal person.

()

legal framework
legal reserves

( )

legal title
Equivalent: title.

lender

lending funds

lending methodology
Equivalent: method of lending.

lessee

lessor

leverage

leverage
Equivalent: financial leverage.

leverage ratio

liabilities
liabilities and equity (balance sheet)

liability account

( )

39

licensed financial institution

life expectancy (equipment)

()

life of a loan

limitation of scope (audit)

Equivalent: limitation on scope.

()

limitation on scope (audit)

()

limited-survey sample

line of credit
Equivalent: credit line.

line staff
Equivalents: field staff, front-line staff.

linked liabilities

liquid asset
Equivalent: quick asset.

liquidation value
Equivalent: forced-sale value.

liquidity

liquidity management
Equivalent: cash management.

liquidity position

liquidity requirements

liquidity risk

liquidity shortage

liquidity squeeze

liquidity threshold

liquidityadequacy ratio
Equivalent: current ratio.

()

livelihood activities

livestock savings

(,
)

loaded question (survey)

()

loan

loan agreement
Equivalent: loan contract.

loan application

loan application procedure

loan appraisal

loan assets

loan balance

loan capital
Equivalent: loan-fund capital.

-
loan charges

loan collateral
Equivalent: loan guarantee.

loan contract

loan cycle

loan disbursed
Equivalent: disbursed loan.

loan disbursement

loan fee

loan guarantee

loan in arrears
Synonyms: delinquent loan, past-due loan, overdue
loan.

loan income

loan loss

loan maturing
Equivalent: maturing loan.

loan officer
Equivalent: credit officer.

, ,

loan portfolio

loan portfolio turnover

loan pricing

loan principal
Equivalent: principal.

( )

loan processing

loan product

loan recovery

loan scoring
Equivalents: credit scoring, scoring.
Loan scoring is a statistical technique used by
financial institutions to decide whether or not to
extend credit.

,

.

loan size

loan supervisor

loan term

loan use

loan write-off
Equivalent: write-off.

loan write-off ratio

Equivalent: write-off ratio.

loan-fund capital

41

loan-loss provision (income statement)

Equivalent: loan-loss provision expense, loss
provision.

( )
,
(), [
,
], (
)

loan-loss provision expense (income statement)

( )
,
(), [
,
], (
)

loan-loss rate
Equivalent: loan-loss ratio.

loan-loss ratio

loan-loss reserve (balance sheet, asset account)

,
(),
[ ,
],
( ,
)

loan-loss reserve ratio

loan-officer productivity

loan-rescheduling ratio

loans outstanding
Equivalent: outstanding loan portfolio, outstanding
portfolio, portfolio outstanding.

loan-tracking management information system

(MIS)

()

loan-tracking system

local area network (LAN)

longitudinal study

long-range planning

long-term debt

long-term investment (balance sheet, asset account)

( ,
)

long-term liabilities (balance sheet, liability account)

( ,
)

loss

loss from currency adjustments

loss provision (income statement)

( )
(
Equivalents: loan-loss provision, loan-loss provision
)
expense.

-
lottery ROSCA (rotating savings and credit
association)
A type of ROSCA.

43

M
machinery (balance sheet, asset account)

( ,
)

maintenance and cleaning (income statement)

(
)

management

1) ,
2)

management accounting

management auditor

management by objectives

,
management chart

Equivalents: management report, performance chart.

management control

management indicator

management information

management information system (MIS)

()

management letter (audit)

()

management report

management representation letter (audit)

Equivalent: representation letter.

- ()

management representations (audit)

- ()

manager

, ,

managerial sustainability

managing director
Equivalent: executive director.

mandatory savings
Equivalents: obligatory savings, forced savings,
compulsory savings.

margin

margin analysis

marginal cost
Equivalent: incremental cost.

marginal-cost analysis

marginal-cost pricing
marginalization

markers of change

market interest rate

market penetration

-
market rate
Equivalent: commercial terms.

market research

market segment

market value

marketable securities

market-debt capital

market-driven approach

, ,

marketing channel

marriage fund

master budget

matching funds

material amount

material misstatement (audit)

()

materiality

materiality level (audit)

()

matrix (management)

, ()

maturing loan
Equivalent: loan maturing.

maturity
Equivalent: maturity date.

maturity date

maturity mismatch
Equivalent: term mismatch.

meals and incidentals (income statement)

(
)

means test

mediating variable

membership

merchant bank
Equivalent: investment bank.

merry-go-round
A type of rotating savings and credit association
(ROSCA), particularly in Africa.

(),
.

method of lending
Equivalent: lending methodology.

MFI (microfinance institution)

( )

micro-borrower

microcredit

45

microenterprise services

microentrepreneur

microfinance

microfinance institution (MFI)

()

microfinance of housing
Equivalent: housing microfinance.

micro-insurance

microloan

micro-saver

migrant-worker remittances

minimalist MFI
The term refers to an MFI that offers only financial
services.

,
.

minimum (savings) balance

minimum capital requirements

MIS (management information system)

( )

miscellaneous expenses

()

miscellaneous income

mission drift

mission statement

mobile banking

monetary policy

money holder
Equivalent: money-guard.
, ,
.
A term used for someone who safeguards the cash of
another, often a relative or friend.
moneylender
Equivalent: private lender.

monitoring

monitoring and evaluation

monitoring system

monthly payment

months to maturity
Equivalent: term in months.

moral hazard

moratorium interest
Equivalents: interest on overdue payment, penalty
interest.

mortgage

mortgage bank

mortgage financing

-
mortgage interest

mortgagor

multiple-choice question
A question for which several pre-defined answers
are suggested. A multiple-choice question can be
answered by a unique response or by several
responses.

,
,
.

multiple-response question
A closed question for which several responses are
possible.

,
.

multipurpose institution

,
multi-service MFI
,
Equivalent: integrated MFI.
, , ,
This term refers to an MFI that offers financial
,
services in addition to other services, such as
..
enterprise development services, social services, etc.

47

N
near cash
Noninterest-bearing accounts, the term of which is
equal or less than three months.

,
,
.

negative rate of interest

net book value

net cash flow

Equivalent: net increase or decrease in cash.

net cash requirement

net cash revenue

net cash-debit balance

net earnings
Equivalents: excess of income over expenses, net
profit.

net financial margin (income statement)

Equivalent: net financial result.

net financial result (income statement)

net income from operations

net income or net loss

net income ratio

net increase or decrease in cash

net interest margin

net loans, outstanding balance of

net present value

Equivalent: net present worth.

net present worth

net profit

net worth

nominal interest rate

nonbank financial institution

non-bankable

nonbudgeted expenses

non-cash expense

non-interest income

non-operating income

non-operating income and expenses

non-performing asset

()

non-performing loan

-
nonprofit organization

note payable

note receivable

note to financial statements

number of borrowers

49

O
obligatory savings
Equivalents: forced savings, mandatory savings,
compulsory savings.

occupancy expenses (income statement)

(
)

office expenses (income statement)

(
)

office materials
Equivalent: office supplies.

office supplies

off-the-shelf software

()

on-costs
Equivalent: indirect costs.

ongoing savings

on-lend

on-time collection rate

on-time repayment

on-time repayment rate

open-ended approach (survey)

()

open-ended question (survey)

,
()

opening balance
Equivalent: balance brought forward.

operating budget

operating cash flow

Equivalents: cash flow from operations, funds
provided from operating activities.

operating cost
Equivalents: operational cost, operating expense.

operating deficit

operating department

operating expense

operating income
Equivalent: operational income.

operating loss

operating margin (income statement)

Equivalent: operating profit before depreciation and
amortization.

,
( )

-
operating profit

operating profit before depreciation and

amortization (income statement)

,

( )
.

operating risk
Equivalent: business risk.

operating self-sufficiency
Equivalent: operational self-sufficiency.

operating subsidy (income statement)

Equivalent: grant income.

(
)

operating surplus

()

operating-cost ratio
Equivalent: operating-expense ratio.

operating-expense ratio

operational cost

operational efficiency

operational income

operational review

operational sustainability

opinion (audit)

()

opportunity cost

organization chart

organizational structure

origination fee (loan)

()

outcome variable

outflow (accounting)

( )

outreach
See also depth of outreach and scale of
outreach.

outreach indicator

outreach of loan services

outsourcing

outstanding balance

outstanding balance of loan principal

outstanding loan portfolio

Equivalents: outstanding portfolio, loans
outstanding, portfolio outstanding.

outstanding loans

outstanding portfolio

51

overdraft facilities

overdue
Equivalent: past due.

overdue loan
Equivalents: delinquent loan, loan in arrears, pastdue loan.

overdue payment
Equivalents: delinquent payment, late payment,
payment in arrears.

overhead (head office)

( )

overhead budget

overhead costs (head office)

( )

, ,
owner equity, owners equity
Equivalents: equity, shareholder capital, shareholder
equity, shareholder funds, stockholder equity.

P
paid-in capital

pair-wise ranking
A term used in partipatory rapid appraisal (PRA).

,
- ().

par value
Equivalent: face value.

parent company

participatory development

participatory rapid appraisal (PRA)

Equivalent: participatory rapid assessment.

-, -
(), -
()

participatory rapid assessment (PRA)

-, -
(), -
()

passbook

passbook savings

past due
Equivalent: overdue.

past-due loan
Equivalents: delinquent loan, loan in arrears,
overdue loan.

past-due rate
Equivalents: arrears rate, delinquency ratio,
delinquency rate.
The past-due rate is calculated by dividing the
amount of arrears (or late payments) by the average
outstanding loan balance.

pawn, to (verb)
Equivalent : pawn loan.

(, ),

pawn loan

pawnbroker

pay off a loan

payable on demand

payables

payback period

payment
Equivalents: repayment, reimbursement.

payment date

53

payment in advance
Equivalents: advance repayment, repayment in
advance, prepayment.

payment in arrears
Equivalents: delinquent payment, late payment,
payment overdue, overdue payment.

payment in kind
Equivalent: in-kind reimbursement.

payment overdue

payment voucher

payroll

payroll tax expense

PEARLS system
A system of 39 financial ratios used by the World
Council of Credit Unions (WOCCU) to evaluate
MFIs.

PEARLS
39 ,
WOCCU (
).

peer pressure

peer review (solidarity group)

, (
)

peer risk (solidarity group)

peer-lending guarantee
Equivalents: collective guarantee, group guarantee.

peer-to-peer network

,
(,
)

penalty

penalty income

penalty interest
Equivalents: interest on overdue payment,
moratorium interest.

pending client (for a loan)

pending loan

penetration rate

,
()

performance chart
Equivalents: management chart, management report.
performance incentive scheme

performance indicator

performance measurement

performance review

( )

performance standard

performing asset
Equivalents: earning asset, productive asset.

() , ,

-
performing loan

permanent asset
Equivalents: capital asset, fixed asset.

personal guarantee

personnel efficiency

personnel expenses
Equivalent: staff costs.

personnel-time ratio

PERT (program evaluation and review technique)

- PERT (
)

petty cash

phantom loan
Equivalent: ghost loan.

physical asset

piggy bank
Equivalent: home bank.

pilot test

, ,

pledge

pledging

point-of-sale device
point-of-sale network
portfolio

portfolio aging
Equivalent: aged portfolio, aging of the portfolio,
aging portfolio balance.

portfolio at risk (PAR)

portfolio diversification

portfolio in arrears

portfolio income

portfolio outstanding
Equivalents: loans outstanding, outstanding loan
portfolio, outstanding portfolio.

portfolio quality

portfolio report

portfolio review

portfolio risk

portfolio turnover

portfolio yield
Equivalent: yield on portfolio.

portfolio-at-risk rate (PAR rate)

55

position account

positive rate of interest

post an entry

post
closing-trial balance
Equivalent: adjusted trial balance.
postal savings bank

poverty level

poverty line

PRA, participatory rapid appraisal

Equivalent: participatory rapid assessment.

- (),
- ()

practitioner

() ,
,

practitioner-led assessment

, ,

precautionary savings
Equivalent: contingency savings.

pre-coded response

pre-engagement stage (audit)

()

preliminary savings
Equivalent: prior savings.

prematured loan

prematuring
Equivalent: acceleration of maturity.

prepaid expenses (balance sheet, asset account)

,
( , )

prepayment
Equivalents: advance repayment, payment in
advance, repayment in advance.
present value
Equivalent: current value, current worth.

present value of an annuity

price-level accounting
Equivalent: general price-level accounting.

pricing

, ,

pricing structure

primary research (market research)

(
)

prime rate (prime interest rate)

, -

principal
Equivalent: loan principal.

( )

principal overdue

-
principal, payment of

prior savings
Equivalent: preliminary savings.

private development bank

private lender
Equivalent: moneylender.

probing question (survey)

, ()

probing technique (survey)

, ()

pro-poor
proceeds

, ,

product development

product-attribute ranking

(
)

production credit

productive asset
Equivalents: earning asset, performing asset.

productivity

productivity indicator

profit
Equivalent: earnings.

profit center

profit margin

profit sharing

profitability

profitability ratio

profitable

profit-and-loss account
Equivalent: income statement.

proforma financial statements

program evaluation and review technique (PERT)

()

promissory note

, ,

property and equipment (balance sheet, asset

account)

,
( , )

provision (income statement)

(
)

provision of financial services

Equivalent: delivery of financial services.

provision write-off

provisioning

( )

provisioning policy

57

proxy
Equivalent: proxy indicator.

proxy indicator

prudential ratio

prudential standard

public development bank

Q
qualified opinion (audit)

()

qualitative research

quantitative research

quantitative survey

quick asset
Equivalent: liquid asset.

quick ratio
Equivalent: acid-test ratio.

(
)

quote an interest rate

Equivalent: set an interest rate.

quoted interest rate

Equivalents: stated interest rate, nominal rate.

59

R
raise funds

random linear method

random sampling

random-number table

random-sampling method

random-walk sampling

ranking

rating
Equivalent: credit rating.

rating agency

ratio analysis

real effective interest rate

real interest rate

receipt book

receipt in advance

receivable

( ,
)

reciprocal lending

recognize (accounting)

( )

reconcile

reconciliation account

reconciliation item (accounting)

,
( )

record an operation

recovery

recovery rate
Equivalent: repayment rate.
recurrent costs
Equivalents: recurrent expenses.

recurrent expenses

redeemable in cash

refinance a loan

refinanced loan

refinancing

regulated financial institution

regulated MFI

regulators

-
reimbursement
Equivalents: repayment, payment.

related-party loan
Equivalent: insider loan.

, ,
()

remaining life

remittance
Generally refers to transfers from migrant workers to
,
their home country.
-
renewal of credit

rent seeking

repayment
Equivalents: payment, reimbursement.

repayment ability
Equivalents: capacity to reimburse, capacity to
repay, repayment capacity.

, ,

repayment by installments

repayment capacity

, ,

repayment conditions

repayment frequency

repayment in advance
Equivalents: advance repayment, payment in
advance, prepayment.

repayment plan (loan)

Equivalents: repayment schedule, amortization
schedule.

()

repayment rate
Equivalent: recovery rate

repayment schedule

repayment stream

repeat loan

replacement cost
Equivalent: current cost.

replacement value

reporting

reporting requirements

reporting system

repossessed collateral

representation letter (audit)

Equivalent: management representation letter.

- ()

re-price
To modify the interest rate on a loan.

61

reschedule

rescheduled loan

rescheduling of a loan

research objective

reserve calculation
Equivalent: calculation of reserve.

reserve rate

reserves (balance sheet)

Equivalent: accumulated reserves.

, ( )

reserves for possible losses

(), ,
[ ,
],

reserves held in the central bank

residual value

respondent

restricted funds

restructure

restructured loan

retailer
retained earnings
Equivalent: retained net surplus (deficit).

retained earnings statement

retained loss

retained net surplus (deficit)

()

retention rate
Equivalent: client retention rate.

return on assets (ROA)

Equivalent: asset utilization.

return on equity (ROE)

return on investment (ROI)

Equivalents: investment return, investment yield.

return on performing assets

Equivalent: yield on performing assets.

return-on-business ratio (ROB)

returns to scale

revenues

reversal of amortization and provisions

reversal policy

reversing entries

-
revolving credit

revolving loan fund

risk management

ROA (return on assets)

Equivalent: asset utilization.

ROB (return on business ratio)

ROE (return on equity)

ROI (return on investment)

Equivalents: investment return, investment yield.

ROSCA (rotating savings and credit association)

(
)

ROSCA chain

ROSCA round

rotating savings and credit association (ROSCA)

()

rounding mechanisms

running cost

rural bank

rural development bank

63

S
S&L (savings and loan association)

SACCO (savings and credit cooperative)

Equivalents: credit union, savings and credit union.

sale of assets

sale of equity investments

sale of investments

sample selection

sample size

sampling

sampling methodology

sampling risk

saver

saving at home

saving down
A concept coined by Stuart Rutherford to designate
an advance against future savings, i.e., a loan.

, .

saving through
A concept coined by Stuart Rutherford.

,

.

saving up
According to the a priori savings concept coined
by Stuart Rutherford.

savings

savings account

savings and credit cooperative (SACCO)

Equivalents: savings and credit union, credit union.

savings and credit union

savings and loan association (S&L)

savings bank

savings club

savings in cash

savings in hard assets

savings in kind

savings outreach

savings outstanding

-
scale of outreach (of the services of an MFI)
Refers to the number of clients served by an MFI.
See also depth of outreach.

( )
,
.
: .

scope of an audit

scoring
,
Equivalents: credit scoring, loan scoring.

Scoring is a statistical technique used by financial
.
institutions to decide whether or not to extend credit.
screened mutual fund

SDI (subsidy dependence index)

seasonal bias

seasonal credit
Equivalent: crop credit.

seasonality analysis

secondary information

second-tier bank

secure a loan

secured debt

securitization

security
Equivalents: collateral, guarantee.

, , ,

seed funding

self-help group

self-selection bias

self-sufficiency

, ,

self-sufficiency indicators

semiformal institution

senior manager

sensibility analysis

service charge

servicing cost

set an interest rate

Equivalent: quote an interest rate.

setup costs

setup options (software)

(
)

shadow interest rate

shadow price

shadow price of funds

65

share

shared return fund

shareholder
Equivalent: stockholder.

shareholder capital
Equivalents: shareholder equity, shareholder funds,
stockholder equity, owner equity, owners equity,
equity.

shareholder equity

shareholder funds

shortfall

short-term debt
Equivalents: current debt, current liabilities, shortterm liabilities.

short-term investment

short-term liabilities

short-term paper

sight deposit
Equivalent: demand deposit.

sight draft

( )

simple interest

simulation modeling

single end-of-term payment

Equivalent: balloon payment.

single-answer question (survey)

()

single-entry accounting

smart card

-,

social investors

social welfare

socially responsible mutual fund

social-welfare benefit

soft loan
Equivalent: concessional loan.

solidarity group
Equivalent: joint-liability group.

solidarity-group lending

solvency
Equivalent: creditworthiness.

-
sources and uses of cash
Equivalent: statement of sources and uses of cash.

special-purpose audit

spread

, ,

spread interest payments, to (verb)

staff costs
Equivalent: personnel expenses.

staff count

staff development

staff incentive (human resources)

()

staff retraining

stakeholder

standards for financial reporting
Equivalents: financial standards, applicable financial
reporting framework.
starting fiscal year

startup business

, , ,

startup costs

,
,

stated interest rate

Equivalents: quoted interest rate, nominal rate.
statement of account
statement of change in financial position
Equivalent: cash flow statement.

statement of sources and uses of cash

Equivalent: sources and uses of cash.

stock item

stockholder
Equivalent: shareholder.

stockholder equity
Equivalents: shareholder equity, shareholder capital,
shareholder funds, owner equity, owners equity,
equity.
straight-line depreciation (asset)

()

strategic plan

strategic planning

structured questionnaire (survey)

()

subledger (accounting)

( )

subsidized credit

67

subsidy
Equivalent: grant.

subsidy adjustment

subsidy dependence index (SDI)

subsidy for cost of funds

Equivalent: cost-of-funds subsidy.

subsidy-adjusted profitability

subsidy-independent

substantive procedure (audit)

()

summarized financial statements

summary balance sheet

summary income statement

sum-of-years digit depreciation method (asset)

Equivalent: sum-of-the years digit depreciation
method, sum-of-the-years digit method.

()

sum-of-the-years digit depreciation method (asset)

()

sum-of-the-years digit method (asset)

()

supplier credit

supplier of financial intermediation services

surplus

survey interview

suspense account

sustainability

sustainable

T
tangible asset

target capital structure

target group

target market

targeted lending

tax

tax allowance
Equivalent: tax write-off.

tax audit

tax base

tax expenditures

tax incentive

tax liability

tax rate

tax system

tax write-off

taxable income

technical assistance

technical reserve (insurance)

()

technical sustainability

teller

, ,

teller transaction

term deposit
Equivalents: fixed-term deposit, time deposit.

term in months
Equivalent: months to maturity.

term loan

term mismatch
Equivalent: maturity mismatch.

terms of a loan

terms of reference

test of control (audit)

()

test of details (audit)

()

test of statistical significance

69

time deposit

time series

time-series analysis

title (legal)
Equivalent: legal title.

,
, ()

trade credit

transaction (accounting)

, ( )

transaction entry

transaction ledger

transaction report

transfer price

transparency

travel advances

travel and transportation expenses

treasury bill
Equivalent: treasury note.

treasury note

treatment group
In an evaluation process, treatment group is the
group used to measure the effects of a microfinance
program on the beneficiaries. It is opposed to the
control group.

(,
)

trend analysis
trial balance

true and fair view of the financial position (audit)

()

trust fund

trust law

turned into cash

U
unaccounted for

unadjusted trial balance

()

unallocated
unbankable, unbanked
uncalled capital

(
)

undepreciated book value

undercapitalized

unearned revenue

unit cost

unpaid interest
Equivalents: interest in arrears, interest unpaid.

unqualified opinion (audit)

-
()

unqualified opinion with an emphasis of matter

(audit)

-
()

unrecovered loan

( /)

unrestricted funds

unsecured debt

unstructured questioning (survey)

untapped market

()

up-front fee

up-front interest payment

up-front savings

upscaling

,
,
,
,

useful life

usury law

utilities (expense account)

( s)

71

V
variable operating cost

variable-cost ratio

variance analysis

vehicle operating costs

venture capital

village bank

village banking

vision statement

voluntary deposit

voluntary savings

voucher

W
wage bill

wage costs

WAN (wide area network)

warehouse receipt
Occasionally used as a synonym of "warehouse
receipt financing."

warehouse-receipt financing
Equivalent: inventory credit.
Inventory credit permits farmers to store their crops
in a warehouse and use them as a guarantee against
credit before they are sold.

, , .

warehousing

warm-up question (survey)

()

warrant (finance)

, ,

wasting asset

wealth ranking

weekly payment

weighted average cost of capital

wide area network (WAN)

withdrawal

work in construction
Equivalent: work in progress.

work in progress

working capital

working-capital loan

working-capital ratio
Equivalent: current ratio.
Synonym: capital-adequacy ratio.
work-in-process inventory

write off (verb)

write-off (noun)
Equivalent: loan write-off.

write-off ratio
Equivalent: loan write-off ratio.

written-off loan

73

Y
year-end accounts

()

yield curve

yield gap

yield on performing assets

Equivalent: return on performing assets.

()

yield on portfolio
Equivalent: portfolio yield.

yield to maturity

yield-gap ratio