Every type of work or business has its own form of jargon. Accountancy is particularly bad in this area.
A typical set of accounts will include expressions such as Gross Profit, depreciation, fixed assets, debtors, creditors, net assets etc. If you feel you do not understand what you are reading, it is not your fault. It is just that your accountant is failing to communicate with you properly. He or she will not think you are an idiot for asking what some of the words in your accounts mean. Instead they will be rather pleased you are taking an interest in your accounts and want to understand them better.
In later blogs we will explain some of the jargon away.
