Definition

The polite fiction that you'll eventually pay back what you owe—a financial IOU dressed up in accounting terminology. It's that magical future date when debts somehow transform into credits, assuming math and time both cooperate.

Example Usage

The company's owing balance of $50,000 keeps accountants up at night.

Source: Merriam-Webster via Free Dictionary API

Related Terms

Intermediate

deterioration

What happens to literally everything the moment you stop maintaining it—your car, your grades, your mental health. The financial equivalent of neglect with a fancy word attached. Example: The gradual deterioration of their infrastructure finally forced the city to raise taxes.

💰 Finance / Accounting
Beginner

allowance

A pre-approved sum of money allocated for specific purposes, whether it's reimbursing employees for business expenses or giving your kid enough cash to learn about financial responsibility (and candy budgets). In corporate speak, it's the amount you're permitted to spend before someone starts asking uncomfortable questions. It's not free money—it's controlled spending with receipts attached.

💰 Finance / Accounting
Intermediate

discounted

To reduce a price, debt, or future obligation by a mathematical percentage because apparently money today is worth more than money tomorrow (who knew?).

💰 Finance / Accounting
Advanced

hedging

Using financial instruments or strategies to reduce risk exposure—essentially betting against yourself to sleep better at night.

💰 Finance / Accounting
Beginner

aging report

A document that categorizes accounts receivable by how long invoices have been outstanding, essentially a report card showing which customers are ghosting you. The longer the aging period, the less likely you'll ever see that money.

💰 Finance / Accounting
Intermediate

Chinese wall

Information barriers within financial institutions designed to prevent conflicts of interest, like keeping the investment banking side from sharing insider information with the trading desk. Also increasingly called 'ethical walls' because geography.

💰 Finance / Accounting

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See “owing” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.

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