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Glossary

A

Accounting Cycle

Accounting Period

Accounts Payable

Accounts Receivable

Accrual Accounting

Accrual Basis Accounting

Accrual Method Accounting

Accrued Expenses

AML – Anti-Money Laundering

B

Bad Debt Expense

Balloon Payment

C

Cash Accounting

Cash Basis Accounting

Cash Equivalents

Cash Flow Statement

CGT – Capital Gains Tax

Cost of Goods Sold (COGS)

Current Liabilities

D

Double-Entry Bookkeeping

E

Encumbered Asset

EOFY – End of Financial Year

F

FBT – Fringe Benefit Tax

Financial Analysis

Financial Statements

G

Gross Profit Margin

I

Income Statement

Intangible Assets

International Tax Planning

International Tax Relief

L

Liability Account

Long-term Liabilities

N

Non-current Assets

Non-current Liabilities

Non-operating Assets

O

Opening Balance

Operating Assets

Operational Expense

Owner’s Equity

P

Personal Tax Planning

Prepaid Expenses

Profit and Loss

Profit and Loss Statement

R

Retained Earnings

ROI – Return on Investment

S

Statement of Cash Flows

Statutory Standards

T

Tangible Assets

Tax Planning (Corporate)

Third-Party Provider

V

Variable Expense

VAT Registration

W

Working Capital