discrepancies

Definition

The polite accounting term for 'the numbers don't match and someone's either incompetent or stealing.' These are inconsistencies between what should be and what actually is in financial records, inventory counts, or data sets. Finding discrepancies is either the start of a really boring afternoon of reconciliation or a really exciting fraud investigation.

Example Usage

The audit revealed significant discrepancies between reported sales and actual cash receipts, leading to an awkward conversation with the store manager.

Source: Accounting and auditing terminology

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full faith and credit

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Topside Entry

A journal entry made at the corporate level above the normal operational accounting system, often used for adjustments or consolidation. It's headquarters overriding local books, sometimes legitimately, sometimes suspiciously.

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retained earnings

The cumulative profits a company has kept rather than distributing to shareholders as dividends—basically the corporate equivalent of money in the mattress. It's how companies fund growth without begging investors for more cash.

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P/E Ratio

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💰 Finance / Accounting

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payback

The magical moment when an investment stops being a money pit and actually returns something positive, also known as ROI's less sophisticated cousin. In finance, it's the break-even point where you finally stop losing money; in life, it's revenge served cold. Either way, someone's getting their due.

💰 Finance / Accounting

Intermediate

non-recurring charge

An expense that supposedly happens only once but mysteriously appears in financial statements every single quarter. It's management's favorite way to exclude bad news from 'adjusted' earnings while claiming it's temporary.

💰 Finance / Accounting

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