Easy to read Furniture Finishing Terms & Definitions 

Topcoat: Explains the final coats of any material, after primer or sealer, leading to the end result or final finish. 
Staining: Applying a translucent or semi translucent colour to a new wood surface, prior to a clear topcoat.Or in some cases adding translucent colour to a clear lacquer.
Sanding: Sanding wood with a series of different grits (roughness) of sandpaper in order to achieve a smooth wood surface prior to staining and/or a  topcoat.
Finish Sanding: Sanding with a very fine or high grit sandpaper in order to prepare a surface for the next layer or topcoat.
Stripping: Removing the old finish in order to allow for proper adhesion with a new fresh stain and/or topcoat.
Refinishing: Removing or stripping an old finish, sanding, staining and/or applying a new topcoat.
Finishing: Staining and/or applying a sealer/primer and/or a topcoat to a new surface that has not previously been stained or had a topcoat applied.
Restoration:  Returning the item back to it's original new condition.
Sprayed Finish: Any material that is applied using equipment designed to atomize the liquid to allow for a smooth even surface when applied properly. 
Hand Rubbed Finish: Applying the different coats of any material by rag or brush, finish sanding and/or polishing the finish in order to achieve a smooth shiny finish.
ReSpraying: Applying by spray gun a liquid material over top a current or existing finish on any given piece.
RePaint: Applying a new topcoat whether by brush, roller or by spray gun.
Up-Cycle: Improving the finish or repairing a piece in order to save it from being sent for garbage. 
Electrostatic Painting: A method that uses a positive and negative particle charge to attract the liquid material to a metal surface without atomizing the particles prior to application.
Conventional Painting: This method uses paint rollers,brushes or a conventional spray system to apply a liquid material on any given surface.
Oil Based Materials: The main solvent and material is derived from an oil based product.
Water Based: Liquid material that can be diluted or cleaned up with water. The solvent used may or may not even be water, this product is defined as Water Soluble.
Glazing: Applying a translucent liquid colour to a previously finished material, wiping and/or brushing that material leaving behind trace amounts of that coloured material.
Antiquing: Using one or more methods of making a finish appear to be old, worn, or distressed.
Sprucing Up: Considered to be making an improvement to any given piece.
Low VOC: The level of Volatile Organic Compounds associated with a product, VOC's may or may not be Hazardous in the amount or even considered Toxic to the environment. Voc's are measured in two ways. ppb (parts per billion) for evaporated compounds and g/l (grams per litre) for the weight of the VOC's used in manufacturing a liquid finishing material.
HAP'S: Hazardous Air Pollutants, considered to be toxic to the environment.
Green: The methods and/or products used to produce the end result do not harm or have minimal impact on the environment and are considered to be non toxic.
Some of the more technical spray terms can be found here: Woodcraft Furniture