Forum Jargon buster A
Word
Meaning

Accounting period

A range of time in which accounting functions are performed, aggregated and analysed.

Accounting Records

Documentation and books used in the preperation of financial statements. They include records of assets, liabilities, monetary transactions, ledgers, journals, checks and invoices.

Accounting Reference date (or ARD)

The end of a limited company or limited liability company's financial year.

Agency Worker

An agency worker provides work or services to a company but is contracted and paid by an agency, rather than the company.

Allotment of Shares

Creation and Issue of shares to share holders or third parties from the company

Articles of Association

The internal rules that set out how the company is run and are binding on the company and all of its shareholders (or members)

Assets

Resources or things of value that can be converted in to cash. Assets are owned by individuals and businesses

Auditor

Someone who examines financial records and ensures businesses are run efficiently. They follow cash flow from beginning to end, ensuring all funds are accounted for properly

Auto-enrolement

A work place pension arranged by your employer. Employees are automatically entered in to the scheme unless they decide opt out. To be eligible for the scheme employees must be between 22 and 74 and earn over £10,000 per year

Absence

People are absent from work for 3 main reasons - they are sick, they are unable to come to work because of personal responsibilities or they are on authorised leave such as holiday

Adoption leave and pay

Qualifying employees who have been matched with a child for adoption may take up to 52 weeks adoption leave and may also be entitled to 39 weeks of statutory adoption pay. If you are a couple adopting a child one may take adoption leave and the other parent may be able to take paternity leave or shared parental leave

Age Audit Tool

This is a survey tool to help assess employee attitudes towards age in your business

Absence

People are absent from work for 3 main reasons - they are sick, they are unable to come to work because of personal responsibilities or they are on authorised leave such as holiday.

AAL

Additional Adoption Leave.

ASPP

Additional Statutory Paternity Pay.

Acas

Advisory, Conciliation and Arbitration Service.

ADR

Alternative Dispute Resolution.

AML

Aditional Maternity Leave.

APL

Aditional Paternity Leave.