Accounting terminology differences

UK	United States
Acquisition accounting	Purchase accounting
Articles of Association	Bylaws
Balance sheet	Statement of financial positon
Bills	Notes
Bonus or scrip issue	Stock dividend or stock split
Closing rate method	Current rate method
Creditors	Payables
Debtors	Receivables
Deferred tax	Deferred income tax
Depreciation	Amortisation
Exceptional items	Unusual items
Finance leases	Capital leases
Land and buildings	Real estate
Merger accounting	Pooling of interests
Nominal value	Par value
Non-pension post-employment benefits	OPEBs
Ordinary shares	Common stock
Own shares purchased but not cancelled	Treasury stock
Preference shares	Preferred stock
Profit and loss account	Income statement
Profit for the financial year	Net income
Provisions	Allowances
Share premium	Additional paid-in capital
Shareholders' funds	Stockholders' equity
Stocks	Inventories
Turnover	Revenues
Undistributable reserves	Restricted surplus