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ABBREVIATED ACCOUNTS - Annual Accounts and reports of a REGISTERED
company, from which some details have been omitted before filing at Companies
House. A private company may file abbreviated accounts if it qualifies as a
small or medium-sized company.
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ACCOUNTING ASSET - an asset that can be given a monetary value.
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ACCOUNTING DATE - the date to which a company makes up its accounts.
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ACCOUNTING REFERENCE DATE - the date that indicates the end of an accounting
period for a company.
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ACID TEST RATIO - also known as Liquidity Ratio and Quick Ratio. Indicates
the ability of a company to meet its short term debts.
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ACQUISITION - the combining of two businesses/companies in such a way
that the owner of one of the companies gives up their interest in exchange for
money or other consideration. Also known as "takeover."
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ADMINISTRATION ORDER - an order by the court, providing for the administration
of a company's assets during a given period. The person managing this is known
as an Administrator.
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ADMINISTRATIVE RECEIVER - a person who is appointed, subject to a floating
charge, to receive monies/property owed.
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ADMINISTRATOR - a person appointed by the court to manage the activities
and assets of a company that has been the subject of an Administration Order.
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ALLOTTED SHARE - a share is allotted when an individual acquires the
unconditional right to be included in the company's register of members. The
individual who has that right is called the "allottee" of the share.
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ALLOTTED SHARE CAPITAL - shares which have been issued and allotted
(taken on) to individual members in a company.
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ALLOTTEE - an individual who has acquired newly allotted shares in
a company, therefore, gaining the unconditional right to be included in the
company's register of members.
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ANNUAL ACCOUNTS - financial statements that are normally prepared once
a year.
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ANNUAL RETURN - this document is a yearly update of key information
regarding a company, such as ownership, directors' details, registered office,
etc. It is a requirement under company law to file this document once a year.
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ARTICLES OF ASSOCIATION - a document containing rules governing a company
and its members.
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ASSETS - items owned by a company/business.
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AUDIT - the independent examination, and expression of an opinion,
on the accounting statements of a company.
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AUDITORS REPORT - report of the people who conducted the audit. Attached
to the published accounts of limited companies in accordance with company law
and accounting practice.
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AUTHORISED CAPITAL - also known as "Nominal Share Capital."
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