Operating profit sentence example

Seasoned accountants know the abbreviations and lingo of accounting like it’s a second language. But, if you find yourself confused when reading a balance sheet or income statement, it might help to clarify the meanings of common terminology. Keep reading for a list of 50 accounting abbreviations that will clear up any misunderstandings.

Throughout his professional life, Juergen Schrempp (born 1944) has been willing to make bold decisions and take big risks. After being named chairman of Daimler-Benz, Germany's largest industrial company, he slashed ten percent of its workforce, eliminated unprofitable business units, and set ambitious goals for the future. Schrempp is credited with transforming the ailing giant, which had suffered record losses, into a profitable venture. It is hoped that he will accomplish similar success as cochairman of Daimler Chrysler.