The document discusses the complex terminology used in the fields of accounting and finance. It notes that while the basic words used are common, they take on very specific meanings in this context. It provides several examples of terms that have different meanings than their everyday usage. The author expresses being bewildered by the specialized nomenclature at first as a new professional entering the world of accounting. However, the concluding statement acknowledges that learning the linguistic conventions is an ongoing process that comes with experience on the job.

1. 26 TheAccountantTM
• JANUARY/FEBRUARY 2013
NEW PROS
By Heather Zeitzwolfe
The English language is a fascinating
amalgamation of vocabulary and ety-
mology. Our modern day lexicon offers
a plethora of expressions from the mun-
dane to the ridiculous. Most of our speech
is comprised of official words found in
published dictionaries, while the rest is
peppered with slang and jargon. Some
words are extremely fun to say aloud,
such as chutzpa, hurly-burly, bombastic and
juggernaut. However, day-to-day locution
rarely offers the opportunity to boast and
bellow such colorful expressions.
On the other hand, the linguisti-
cally complex world of accounting and
finance is a veritable treasure-trove for the
wordsmith. However difficult to under-
stand, the vernacular of this profession
is mainly comprised of basic words. Yet,
the terminology is largely defined by its
own unique system and oftentimes rather
stringently within the codification.
Once you enter the realm of account-
ing, words such as tracing and vouching
take on a totally new meaning. As I delve
further into this world, I am bewildered
and befuddled by its confusing nomen-
clature. For instance, covenant doesn’t
refer to a gathering of witches, cutoff is
not something you wear with flip-flops,
FBAR is not a screw-up, and surprisingly
crack spread isn’t what drug addicts eat on
toast.
Although the term “involuntary con-
version” may sound like the point in time
when a shape shifter has its painful trans-
formation from man into werewolf, it
wouldn’t necessarily be triggered by a full
moon. To get even more mind-boggling,
SOX can’t be worn on your feet, a fair
value hedge can’t be purchased from the
garden department at Home Depot, FASB
ASC 740 is not one of the droids the Jawas
sold in Star Wars and a Double Irish with a
Dutch Sandwich is not a popular European
breakfast cure for a hangover.
The dynamic parlance of account-
ing and finance reminds me of a quote
by the famous linguist Noam Chomsky,
“Language is a process of free creation; its
laws and principles are fixed, but the man-
ner in which the principles of generation are
used is free and infinitely varied. Even the
interpretation and use of words involves
a process of free creation.” Accounting is
said to be the language of business, but as
commerce evolves, so does the vernacular.
As a result, accountants by trade are given
the responsibility to constantly learn, grow,
and adapt to these changes.
If you are new to the world of account-
ing such as I am, acclimating may seem
difficult, especially when it comes to the
lingo. However, keep in mind that on
your journey you may experience gains
and losses, but in the end it’s all debits
and credits.
A b o u t t h e
A u t h o r : H e a t h e r
Zeitzwolfe is a staff
a c c o u n t a n t w i t h
Dowsett Fogg and
Doler PC in Portland
and writes for the
OSCPA’s More than
Numbers blog. You can read more of her blog
posts at oscpablog.orcpa.org.
Accounting for Language
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