Accountant – a qualified professional who is skilled at financial reporting and business analysis.

Account – a record of a business transaction. When you buy on credit, the company you are dealing with sets up an "account" to record what you have purchased and what you have paid. Accounts are also established for customers to whom you extend credit.

Account payee only – when this term is written on crossed cheques, the bank can only pay the funds to the bank account of the payee.

Accounts payable – is a record of funds you owe to suppliers and other business creditors for of purchases of stock and overheads and other liabilities including taxes.

Accounts receivable – is a record of funds your customers owe you.

Accreditation – the certification by a statutory or approved authority of the facilities, capabilities, objectivity, competence and integrity of a business to provide a specified service.

Actuary – a business professional who deals with the financial impact of risk and uncertainty and is often engaged in the insurance and finance sectors.

Ad valorem – according to value. Applied to customs duty, it means a percentage charge on the value, rather than the weight or quantity of goods.

ADSL – a form of high-speed internet access which uses the existing copper telephone wire so you can speak on the phone at the same time as use the internet.

Affidavit – a declaration in writing on oath, made before a person legally qualified for the purpose eg a lawyer or a Justice of the Peace.

After-sales service – service provided to a customer during a warranty period

Alignment – the positioning of a body of text. Text can be positioned to the left, right, or centre of a page. For the best, consistent alignment, website designers use tables and cascading style sheets (CSS).

Amortise – the gradual process of depreciating or writing off the cost of an asset, or reducing a liability by means of a sinking fund, over a period of time.

Asset – are economic resources owned by business or company. Anything tangible or intangible and include cash in the bank, accounts receivable, shares, property or buildings, equipment, fixtures, stock or stock in production.

Audit – detailed checking of the financial records of a business by an independent qualified person (auditor) in order to verify correctness or detect errors or fraud.

Australian Business Number (ABN) – an identifier for dealings with the Australian Taxation Office and other government agencies.

Australian Company Number (ACN) - the number allocated by the Australian Securities and Investments Commission (ASIC) when a body becomes registered as a company under corporations law.

Authorised capital – the total amount of capital which a company, by its memorandum of association, is authorised to offer for subscription. See also, paid up capital.

Award – outline the rights and obligations of employers and the legally binding minimum wage rates and employment conditions for employees.

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