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acfa

Tax Glossary

Synonyms are shown in brackets. Terms appearing elsewhere in the glossary are shown in italics.

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A

Abbreviated accounts
Accounting standards
Accrual
Allotted share capital

Accounting period
Accounts payable
Accruals concept

Accounting policies
Accounts receivable
Accumulated depreciation/amotisation

B

Bad debt
Balance sheet equation

Balance sheet
Basic earnings per share

Balance sheet date

C

Capital allowance
Capital expenditure
Capital structure

Capital and reserves
Capital productivity

Capital employed
Capital redemption reserve

D

Debenture
Debt to total funding ratio

Debt to equity ratio
Deferred expense

E

Earnings
Earnings per share

Earnings before interest and tax (EBIT)
EBITDA

Earnings dilution
Effective interest rate method

F

Fair value
Finance lease

Fair value hedge
Financial structure (Capital structure, Funding structure)

Final dividend
First in first out (FIFO)

G

Gearing
Gross assets

Going concern concept
Gross margin

Goodwill
Gross profit

H

Historic cost convention

I

IASB
Income statement (Profit & loss account

IFRS
Ineffectiveness

J

L

Last in first out
Lessor
Lien (Charge)

Lease
Liability

Lessee
LIBOR (London Inter Bank Offered Rate)

M

Market capitalisation
Marketable

Market to book ratio
Matching

Market value
Member (Shareholder)

N

Net assets
Net operating assets (Capital employed)

Net book value
Net realisable value

Net investment hedge
Net worth (Net assets)

O

Off-balance sheet finance

Operating lease

Operating cash flow

Operating profit

Operating expense

P

Participating preference share

Q

Qualified auditors’ report

R

S

T

Tangible fixed asset
Trade creditor days

V

W

Wind up
Work in progress

Working capital
Write up/down/off

Working capital productivity

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