Hi, I study Business at Ahuntsic College, business is a mixte of economy and management and it's really interesting for someone who wants to be part of the world of business. This glossary could be very useful tho help you understand the language of businessman.
- Accounts
- Those listed on the stock exchange must produce information on their profits six months into the financial year.
- Administration
- The main goal of an administrator is to rescue the company as a going concern. If this isn't possible, the administrator will try to get a better result for the creditors - by rescuing parts of the business - than would be possible if the company was wound up.
- Balance of payments
- The balance of payments accounts record all flows of money in and out of a country.
- Budjet
- Inside the chancellor's famous red briefcase are details of how much cash he plans to raise through taxes and how he then plans to spend it.
- Central Bank
- The banker to the government and the other banks in a country.
- Current account
- The broadest measure of trade, taking in receipts and payments from the trade in goods and services.
- Day trader
- Day trading is the buying and selling of stocks during the trading day by punters on their own account.
- Economic growth
- Economic growth usually refers to the growth in value of GDP(gross domestic product).
- Fixed costs
- Costs that a company incurs in making goods regardless of how much it is producing.
- Gross domestic product
- Gross domestic product (GDP) is a key government statistic and provides a measure of the total economic activity.
- Hostile takeover
- A hostile bid is when a takeover is unwelcome or the terms are unacceptable, and the board advises against agreeing to the bid.
- Income tax
- If you earn money in any capacity, you will probably pay income tax on it.
- Inflation
- Inflation is when prices rise. Deflation is the opposite - price decreases over time - but inflation is far more common.
- Interim
- Companies which are quoted on the stock exchange must give shareholders regular information on how the company is performing.
- Joint account
- A bank account held in the names of two or more people, often a couple.
- Macroeconomics
- The part of economics which looks at economies as a whole, rather than dealing with the actions of individuals or groups.
- Overdraft
- An overdraft allows you to borrow an agreed amount of money on top of your bank balance.
- Personal loan
- A personal loan is a way of borrowing money from a bank, building society or other financial service provider.
- Turnover
- The total sales of a company over a stated period.
- Tax haven
- A country or area with low tax rates where companies may hold investments to try to minimise the amount of tax they have to pay.
