As with all academic subjects, Business and Economics employ abbreviations to save time and space. 

Acronyms are made up of the initial letters of a name or phrase (e.g. SWOT = Strengths, Weaknesses, Opportunities, Threats). They are pronounced as words.

Other abbreviations are read as sets of individual letters. They include names of countries, organizations and companies (USA/BBC/ IBM), and also abbreviations that are only found in written English.

Translation is one of the best ways to learn a foreign language . Read and translate the text.

Our explanation is meant to introduce some basic financial terminology,  and accounting concepts. Some of the basic accounting terminology will include terms such as assets, liabilities, revenues, and expenses...