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Accounting Terminology
Wages: Payments made to the employees of a business for their work on behalf of the business. These are classed as expense items and must not be confused with 'drawings' taken by sole-proprietors and partnerships.

Work in Progress: The value of partly finished (i.e. partly manufactured) goods.

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.

Write-off: Depreciating an asset to zero in one go.

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.