Accounting terms

Ok, I've been graciously nominated by Pranitha to write this blog post. She's being magnanimous today. Am seriously worried about the state of her brain. Anyway, she's my cousin and a CFA (pending charter..see, ethically correct term) and she's apprently teaching some folks accounting on Saturdays. Why? because she's being magnanimous. I already mentioned that. So here's an excerpt of her lesson for the class which she's painstakingly prepared.

Accounting terms and their meanings:
1 : z+z=zzzzzzzzzzzzzzzzz . This is the basic accounting equation
2 : ass + ets = assets = jenifer lopez = Pamela Anderson
3: liabilities = the boys in the class
4 : profit is what u get from conning people
5 : loss = feeling you get when u realise u were conned
6 : operating profit = profits from surgeries when docs con patients
7 : gross profit = you're grossing me out now
8 : net profit - what they use to trap you to make their profits
9 : creditors - run when you see them
10: debtors - run towards them
11: fixed assets - what the point if you cant jiggle them?
12 : depreciation - what happens to you mentally and monetarily as soon as you spot an iphone

PS : I, me , myself have given a couple of suggestions too, though I forget which ones ( the ones you like probably ;))

I happen to like this accounting than any B S Raman or Jain and Narang and any other fancy institute authored textbook. So, to all the folks in Pranitha's accounting class tomorrow... (all the best for december..I think you'll need it)