| 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. |