The Forum Jargon Buster is a great way to find out what some of the common words or definitions mean, that we use on a daily basis.
It is always difficult understanding terminology and definitions when you are trying to run a business. The Forum has put together in plain English what many of the terms, words and phrases mean.
Click on the letters above to display words in alphabetical order and are updated weekly).
Letter 'A'
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.