money | notes and coins |
account | a structured record of transactions |
accountancy | the practice of accounting |
accountant | a professional person who maintains and checks business records |
accounting event | a transaction recorded in a particular book of account |
accounting fees | payments paid to an accountant for preparing accounts |
accountinig departament | a unit in a company that deals with accounts |
accounts payable | the amount that a company owes for goods or services obtained on credit |
accounts receivable | the money that is owed to a company for goods or services provided |
accrued income | money that has been earned but not yet received |
accrued liabilities | money which is recorded although payment has not yet been made |
advanced payment | an amount paid before it is earned |
aggregate-supply | the total of all goods and services produced in an economy |
amortise | to reduce the value of an asset gradually by writing off its cost |
annual charge | a management fee paid yearly |
annual report | documents prepared each year to give a true and fair view of a company's state of affairs |
asset | any tangible or intangible item to which a value can be assigned |
ATM | an electronic machine from which bank customers can withdraw paper money |
audit committee | a company's board of directors that monitors the company's finances |
bad debt | a debt which is considered to be uncollectable |
balance | the state of an account |
balance sheet | a financial report stating the total assets and liabilities at a given date |
bang for the buck | return on investment |
bankruptcy | the condition of being unable to pay debts |
barefoot pilgrim | an investor who has lost everythiong in securities |
barren money | money that is unproductive because it is not invested |
take a bath | suffer a serious financial loss |
bean counter | a derogatory term for an accountant |
bear market | a market in which prices are falling and in which a dealer is more likely to sell securities rather |
bid | an offer to buy all or a majority of the capital shares of a company |
bond | a promise to repay with interest on specified dates money that an investor lends a company or a gove |
bookkeeper | a person responsible for financial records |
books of accounts | ledgers and journals used in preparing financial statements |
budget deficit | the extent by which expenditure exceeds revenue |
budget surplus | the extent by which revenue exceeds expenditure |
bull market | market in which prices are rising and in which a dealer is more likely to buy than sell |
cash discount | a discount offered to a customer who pays for goods with cash |
cash flow | the movement through an organisation of money that is generated by its own operations |
category killer | a major organisation that puts out of business smaller companies |
chartered accountant | a qualified professional accountant in the UK |
cheap money | low interest rates |
clicks and mortar | hybrid businesses involved in e-commerce and traditional stores |
collateral | property or goods used as security against a loan |
commodities | a good or service, e.g. cotton, wool or a laptop |
commission | a payment made to an intermediary often calculated as a percentage of the value of goods or services |
competition | rivalry between companies |
creative accounting | the use of accounting methods to hide aspects of a company's financial dealings in order to make the |
credit | a financial arrangement to buy goods or services and pay for that at a later date |
creditor | a person or entity to whom money is owed |
current assets | cash or assets that are readily convertible to cash |
current liabilities | money owed which falls due for payment within one year |
daisy chaining | creating artificial transactions in order to make a particular security appear more active than it i |
dear money | money which has to be borrowed at a high interest rate |
debt collection agency | a business that secures the repayment of debts for third parties |
debtor | a person or entity owing money |
deed | a legal document that details the transfer or sale of a property |
deep pocket | a company or an individual that provides funds for another company |
direct debit | a claim on an individual or organisation by a creditor and paid by the individual's or organisation' |
discount | a reduction in the price |
diversification | increasing the variety of business, service or product types |
divestment | a proportional reduction in an ownership stake |
dividend | an amount payable to shareholders from profits |
downsizing | organisational restructuring |
drop a bundle | lose a lot of money |
dynamic pricing | pricing that changes in line with demand |
embezzlement | a financial crime, fraud |
endorse | to sign a bill or cheque on the back to show that its ownership has been passes on to another person |
entrepreneur | somebody who sets up a business |
exchange rate | the rate at which one currency can be exchanged for that of another country |
excise duty | a tax on goods such as alcohol or tobacco |
expense | a cost incurred in buying goods or services |
fill or kill | to carry out a client's order immediately or else the order is cancelled |
financial year | the twelve-month period for which a company produces accounts |
fixed asset | a long-term asset such as a machine or building |
foreign currency | a currency used in a foreign country |
GDP | Gross Domestic Product |
gnomes of Zurich | a derogatory name for Swiss bankers |
go-go fund | a unit trust that trades in high-return and high-risk investments |
golden handcuffs | a financial incentive paid to employees to remain in an organisation |
golden handshake | a sum of money given to a senior executive on his involuntary departure from a company |
go public | to float the shares of a company |
hard currency | a currency that is traded in a foreign exchange market and for which there is demand |
haggle | to negotiate the price |
hedge fund | a unit trust that takes considerable risk |
hire purchase | a method of paying for a product or service in which the buyer pays a series of instalments over a p |
hostile bid | a takeover bid that is opposed by the target company |
hot issue | a new security that is expected to trade at a significant premium on its issue price |
illiquid | not easily convertible into cash |
IMF | International Monetary Fund |
income tax | tax levied on any income |
inflation rate | a rate at which the general price level increases |
inheritance tax | tax payable on property inherited after somebody's death |
insolvency | the inability to pay debts |
interest | the rate that a lender charges for a loan |
interim dividend | a dividend whose value is determined on the basis of a period less than a full fiscal year |
Internal Revenue Service | tax office |
invoice | a document that the supplier sends to a customer detailing the cost of product and requesting paymen |
joint venture | a project undertaken by two or more parties |
ledger | a book in which transactions are recorded |
legal tender | banknotes and coins accepted within a given jurisdiction |
lessee | the person who uses a leased asset |
lessor | the person who provides the asset being leased |
loan shark | somebody who lends money at excessively high rates of interest |
long-term liabilities | loans that are due after at least one year |
majority shareholder | a shareholder with a controlling interest in a company |
management buy-out | the purchase of an existing business by an individual manager or management group from within that b |
margin | the difference between the cost and the selling price of a service |
market economy | an economy in which a free market in goods and services operates |
money laundering | the process of making money obtained illegally appear legitimate |
mortgage | a credit to finance the acquisition of land and real property |
national debt | the total borrowing of a country's government |
near money | assets that can be quickly turned into cash, e.g. bank deposits, short-dated bonds |
NYSE | New York Stock Exchange |
overdraft | withdrawal of more money from a bank account than it contains |
payroll | a list of employees who receive salaries or wages, together with the amounts due to each |
payslip | a small document showing details of money earned and tax and insurance paid |
PIN | personal identification number |
pension | money received regularly after retirement |
principal | the original amount of a loan not including interest |
parent company | a company with one or more subsidiary undertakings |
profit and loss account | the summary record of a company's sales revenues and expenses over a period |
profiteer | an individual who aims to make excessive profits disregarding others |
public debt | the money that the government owes |
quoted company | companies listed on a stock exchange |
red tape | excessive bureaucracy |
revenue | the income generated by a product or service |
rogue trader | a dealer in stocks and shares who uses illegal methods to make profits |
royalties | a proportion of the income from the sales of a product to its creator or owner, e.g. a land owner, i |
salary | a form of pay given to employees at regular intervals for the work they have done |
savings account | an account with a bank that pays interest |
secondary market | a market that trades in existing shares rather than new share issues |
shareholder | a person or entity that owns shares in a company |
share issue | the offering for sale of shares in a business |
sleeping partner | a person or entity that invests money in a company but takes no part in the management of the busine |
stock exchange | a registered market in securities |
tariff | a government duty imposed on imports |
tax evasion | the illegal practice of paying less money in taxes than is due |
tax haven | a country that has very low taxes |
tiger | any of the key markets in the Pacific region, except Japan: Hong Kong, South Korea, Singapore and Ta |
tight money | a situation where it is expensive to borrow money |
Treasury | a government department responsible for the nation's financial policies, as well as the management o |
turnover | total sales revenue for an accounting period |
tyre kicker | a potential customer who asks for information and requires attention but does not buy anything |
unemployment | the situation when some members of a country's labour force are willing to work but cannot find empl |
unlimited liability | full responsibility for the obligations of a general partnership |
unlisted company | a company that has no securities listed on a stock exchange |
variable interest rate | an interest rate that changes in relation to a standard index during the period of a loan |
VAT | value-added tax |
wages | a form of pay given to employees for the work they have done on a weekly basis |
wear and tear | the deterioration of a tangible fixed asset as a result of normal use |
white knight | a person or entity liked a company's management who buys the company when a hostile company is tryin |
whizz kid | a young, successful person who makes a lot of money in large financial transactions |
white elephant | a product or service that has not sold well despite large amounts of money pumped into its developme |
write-off | a reduction in the recorded value of an asset, usually to zero |
yield | a percentage of the amount invested that is the annual income from the investment] |