Financial Statements & Accounting
55 terms · page 2 of 3
Inventory
Goods held for sale, work in progress, and raw materials, carried at the lower of cost and net realisable value.
Financial Statements & AccountingInvesting Cash Flow
The net cash used in or generated by buying and selling long-term assets and investments during a period.
Financial Statements & AccountingLease Liability
The obligation to make future lease payments, recognised on the balance sheet along with a corresponding right-of-use asset.
Financial Statements & AccountingLong-Term Debt
Borrowings repayable more than twelve months after the balance sheet date, such as term loans and debentures.
Financial Statements & AccountingNet Profit
The profit remaining after every expense, including interest and tax, has been deducted from income.
Financial Statements & AccountingNon-Controlling Interest
The share of a subsidiary's equity and profit that belongs to shareholders other than the parent company.
Financial Statements & AccountingNon-Current Assets
Assets a company expects to hold and use for more than twelve months, such as plant, buildings, intangibles and long-term investments.
Financial Statements & AccountingNon-Current Liabilities
Obligations not due for settlement within twelve months, principally long-term borrowings, lease liabilities and deferred tax.
Financial Statements & AccountingNotes to Accounts
The detailed disclosures accompanying the financial statements that explain accounting policies and break down the summary figures.
Financial Statements & AccountingOperating Cash Flow
The cash generated by a company's core business activities during a period, after working capital movements and taxes paid.
Financial Statements & AccountingOperating Expenses
The costs of running the business that are not direct costs of production, such as employee benefits, selling costs and administration.
Financial Statements & AccountingOperating Profit
Profit from the core business after all operating costs including depreciation, but before interest and tax.
Financial Statements & AccountingOther Income
Income earned outside the company's main operations, such as interest, dividends received, rent or gains on asset sales.
Financial Statements & AccountingProfit and Loss Statement
A statement of revenue earned and costs incurred over a period, ending in the profit or loss for that period.
Financial Statements & AccountingProfit Before Tax
Profit after all operating and financing costs but before income tax is deducted.
Financial Statements & AccountingProperty, Plant and Equipment
Tangible long-lived assets used in operations, such as land, buildings, machinery and vehicles, shown net of accumulated depreciation.
Financial Statements & AccountingProvision
A liability of uncertain timing or amount that is recognised in the accounts because an outflow is probable and estimable.
Financial Statements & AccountingQualified Opinion
An audit opinion stating that the financial statements are fairly presented except for a specific matter the auditor identifies.
Financial Statements & AccountingReserves and Surplus
The accumulated profits retained in the business plus other reserves such as securities premium and revaluation reserve.
Financial Statements & AccountingRetained Earnings
Cumulative profits a company has kept rather than distributed as dividends, carried forward within reserves.
Financial Statements & AccountingRevenue
The income a company earns from its principal business activities during a period, before any costs are deducted.
Financial Statements & AccountingRevenue Recognition
The accounting rules determining when and how much revenue a company may record from a contract with a customer.
Financial Statements & AccountingSecurities Premium
The reserve holding the amount received on share issues in excess of face value.
Financial Statements & AccountingSegment Reporting
Disclosure of revenue, results and assets broken down by the business or geographic segments management uses to run the company.