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Acronyms in Accounting
Everyday Acronyms
A/P Accounts Payable
A/R Accounts Receivable
ACH Automated Clearinghouse
CIA Cash in Advance payment terms
CIF Cost, Insurance and Freight
COD Cash on Delivery
D&O Directors and Officers insurance
D/A Documents against Acceptance
D/P Documents against Payment
DDP Delivery Duty Paid
DDU Delivery, Duty Unpaid
E&O Errors and Omissions insurance
ECOA Equal Credit Opportunity Act
EDI Electronic Data Interchange
EOAP End of Accounting Period
FASB Financial Accounting Standards Board
FOB Free on Board
GAAP Generally Accepted Accounting Principles
GL General ledger
GP Gross Profit
IFRS International Financial Reporting Standards
Incoterms Rules of the International Chamber of Commerce
ISO The Organization for Standardization
L/C Letter of Credit
LCM Refers to a lower of cost or market adjustment
NIAT Net income after tax
OTC Over the Counter
POS Point of Sale
Prox Next (a Latin word)
RFP Request for Proposal
RFQ Request for Quote
SBLC Standby letter of credit
SEC Securities and Exchange Commission
SWIFT Society for Interbank Financial Telecommunication
TCP/IP Transmission Control Protocol/Internet protocol
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