W-2:  See Form W-2.

W-4:  See Form W-4.

wasting asset:  An asset with a limited useful life; an asset that declines in value and is subject to depreciation or
depletion charges.

weighted-average:  A periodic inventory cost flow alternative whereby the cost of goods sold and the cost of ending
inventory are determined by using a weighted-average cost of all merchandise available for sale during the period.

working capital:  The excess of all current assets over the total of all current liabilities.  The greater the working capital,
the easier it is for a company to meet its current (usually one year or less) obligations.

working papers:  The schedules and documentation that an auditor prepares to support his or her report on financial
statements of a business or other entity.

work sheet:  A columnar schedule used to summarize accounting data.

working capital:  Current assets minus current liabilities.

working capital turnover:  A measure of the amount of working capital used in generating the sales of a period;
computed by dividing net sales by average working capital.   


Copyright 2005 Professional Business Services Inc.
Professional Business Services, Inc.
Professional Business Services, Inc.
Glossary
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