An associated undertaking, or associate, is a company that is not classified as a subsidiary but in which another company or group exercises significant influence. Accounting for associates is regulated by Section 14 of the Financial Reporting Standard Applicable in the UK and Republic of Ireland and International Accounting Standard 28 (IAS 28), Investments in Associates.

ACIS stands for Associate of the Institute of Chartered Secretaries and Administrators, a professional designation for corporate governance, compliance, and company secretarial professionals.

AIAB stands for Associate of the International Association of Book-keepers, a professional designation representing advanced knowledge and expertise in bookkeeping and accounting practices.

An association is a body of persons united without a charter, but upon the methods and forms used by incorporated bodies, for the prosecution of some common enterprise. Some entities may be associations taxable as a corporation.

APACS, established by UK banks in 1985, managed payment clearing and money transmission in the UK through its Interest Groups focused on card payments, cash services, electronic commerce, and liquidity management. It was succeeded by the UK Payments Administration in 2009.

The Association of Accounting Technicians (AAT) is a professional membership body dedicated to the education, development, regulation, and support of accounting technicians worldwide.

The Association of Accounting Technicians (AAT) is a professional body established in 1980 by the Consultative Committee of Accountancy Bodies (CCAB) to provide a second-tier accounting qualification. This qualification can enable individuals to eventually obtain a full CCAB qualification.

The Association of Authorized Public Accountants (AAPA) is a UK professional body for qualified accountants who have been authorized to conduct company audits. In 1996, it became a subsidiary of the Association of Chartered Certified Accountants (ACCA).

The Association of Certified Fraud Examiners (ACFE) is a global professional organization with over 35,000 members dedicated to combating fraud and providing anti-fraud education and training in the business sector. The ACFE awards the Certified Fraud Examiner (CFE) designation, which is recognized worldwide.

The Association of Chartered Certified Accountants (ACCA) is a global professional accounting body offering the Chartered Certified Accountant qualification.

The Association of Chartered Certified Accountants (ACCA) is one of the largest and most prestigious professional accountancy bodies in the world, with over 140,000 members in 170 countries, known for its rigorous certification process and global standards.

The Association of Corporate Treasurers (ACT) is an organization established to encourage and promote the study and practice of treasury management in companies. Despite being relatively small compared to professional accounting bodies, it has made a significant impact in corporate treasury management.

The Association of Independent Financial Advisers (AIFA) is the trade body for independent financial advisers in the UK, established in 1994. It represents the views of the profession to the Financial Services Authority, parliament, and other policymakers and promotes the benefits of financial advice to the public.

The Association of International Accountants (AIA) is a professional body for accountants committed to promoting the idea of 'international accounting.' Established in the UK in 1928, AIA now boasts members in over 85 countries. Full members can be associates (AAIA) or fellows (FAIA) and are known as international accountants, being part of a Recognized Qualifying Body.

A mortgage loan that permits a new home purchaser to undertake the obligation of an existing loan without altering loan terms. Typically applicable to FHA and VA loans.

The assumption fee is a charge levied by a lender to a buyer who assumes the existing loan on the subject property. It compensates the lender for administrative costs associated with transferring the loan.

Assumption of mortgage involves assuming the obligations of a mortgagor toward a mortgagee, usually as part of the purchase price of real estate. This entails the purchaser taking personal liability for the debt unless a novation releases the original borrower.

A technique of risk management where an individual or business assumes expected losses that are not catastrophic, protecting against catastrophic losses through insurance.

Insurance against an eventuality, especially targeting events that must occur such as death. Commonly related to life assurance, it provides a guaranteed payout upon the occurrence of the insured event.

In the context of life assurance policies, the 'assured' is the individual who stands to receive the benefit of the policy upon the death of the insured or when the policy matures, ensuring a secure financial future.

The asterisk (*) character is used for several purposes, including as a reference mark for footnotes, representing multiplication in mathematical expressions, and as a wildcard in filename and data searches.

Processes that are not synchronized, allowing for actions to happen independently at different times. Frequently used in computing and networking to refer to data transmission where operations occur independently.

The term 'at par' refers to a financial instrument, such as a bond, that is trading at its face value. In other words, the market price of the bond is equal to its nominal or par value.

In the context of investments, 'at risk' refers to being exposed to the danger of a financial loss. Specifically, for investors in a limited partnership, they can claim tax deductions only if they can demonstrate a possibility of losing their invested capital.

The term 'at sight' is commonly used on a bill of exchange to indicate that payment is due upon presentation. It is an immediate payment term contrary to 'after date' or 'after sight' terms.

The '@' symbol, historically used in pricing, has gained contemporary significance mainly through its use in email addresses, representing the word 'at' as a separator between username and domain.

An order to buy or sell a security within the final 30 seconds of the trading session. Brokers cannot guarantee that these orders will be executed.

Describing a call or put option in which the exercise price is the same (or very nearly the same) as the current market price of the underlying asset.

Customer's order to a broker to buy or sell a security at the price that applies when an exchange opens. If the order is not executed at that time, it is automatically canceled.

At-risk rules are tax laws designed to limit the amount of tax losses an investor can claim from certain industries, including oil and gas, movie production, farming, and real estate. These rules ensure that losses are deductible only to the extent of money the equity investor stands to lose.

ATT stands for Associate of the Association of Tax Technicians, a professional qualification for employees working in taxation. It is particularly aimed at individuals operating at a level below that of the Chartered Institute of Taxation members.

Attachment is a legal procedure that allows a creditor who has obtained a court judgment to secure payment from a debtor. This can include freezing money or property owed to the debtor by a third party and redirecting it to the creditor.

Attainable standard refers to a cost or income standard set at a level that is achievable by operators under realistic conditions during the relevant cost period.

The insured's age at a specific point in time, often used to determine premiums and eligibility in insurance policies.

The act of noticing an advertisement or commercial; a component of information or perceptual processing. Given that consumers typically focus on items relevant to their needs, attitudes, or beliefs, attention is inherently selective. There have been instances in advertising history where attention was captured by the advertisement itself rather than the product being promoted.

An attention line is commonly used on labels or envelopes to specify the name of the intended recipient of a shipment, ensuring that packages are directed to the correct individual within an organization.

In accounting and legal contexts, to 'attest' means to bear witness to an act or event, confirming its authenticity and validity. This act often involves a third-party certification, ensuring that particular documents and signatures are legitimate.

An attest function is performed by a qualified auditor who provides an audit opinion on the truth and fairness of the financial statements of an organization.

Mental position or emotional feelings about products, services, companies, ideas, issues, or institutions. Attitudes are shaped by demographics, social values, and personality.

An attorney-at-law is a professional authorized to practice law in a specific jurisdiction, engaging in both civil and criminal legal activities on behalf of clients.

An attorney-in-fact is an individual who is authorized to act on behalf of another person under a power of attorney, which can be general or limited in scope. This designation does not require the individual to be an attorney-at-law.

Attornment refers to a tenant's formal agreement to acknowledge a new owner or landlord of the property as their landlord.

An attractive nuisance is a legal concept in the context of property law. It refers to a hazard on a property that is inherently dangerous and particularly alluring to children, causing the property owner to assume liability for any accidents that occur as a result.

Attributable profit is the portion of the total estimated profit from a long-term contract, reflecting the fair share of work completed, minus estimated remedial, maintenance, and other non-recoverable costs at a specific accounting date.

In accounting and auditing, an attribute is a specific characteristic or feature that each member of a population either has or does not have.

Attribute sampling is a statistical procedure used to analyze qualitative characteristics of a population in terms of possession or non-possession of the attribute.

Attributes sampling is a statistical sampling method used to estimate the proportion of a population that possesses a specific attribute, commonly utilized by auditors in compliance tests to identify deviations from required control procedures.

Attrition is the normal and uncontrollable reduction of a workforce due to retirement, death, sickness, and relocation. It provides a natural way for organizations to reduce their workforce without taking overt management actions, though it can lead to unpredictability and gaps.

An auction, also known as an auction sale, is a method of marketing property without a set price wherein bids are taken and the property is sold to the highest bidder.

Centralized securities trading markets where securities are bought and sold in an orderly manner through security brokers. Securities, including equities, bonds, options, closed-end funds, and futures, are traded based on bid and offer prices.

Auction Market Preferred Stock (AMPS) refers to a type of preferred stock in which the dividend rate is reset at periodic intervals through a Dutch auction process, allowing for competitive bidding and market-based pricing.

Auction Market Preferred Stock (AMPS) is a type of U.S. preference share where the dividend is variable and set through an auction process among investors.

Auctioning is a market mechanism in which goods and services are sold to the highest bidder through a structured and competitive bidding process, often conducted online.

An audience can refer to a group of people assembled to witness a presentation or performance, or the total number of individuals who are exposed to media or advertising content.

An independent examination and subsequent expression of opinion on the financial statements of an organization, involving collecting evidence through compliance and substantive tests.

The Audit and Assurance Council is a body established in 2012 to advise the Financial Reporting Council on matters related to audit and assurance, including the issuance of codes and standards. Unlike its predecessor, the Auditing Practices Board, the Council has a more limited and purely advisory role.

Audit Command Language (ACL) is a specialized software designed for auditors and financial professionals. ACL allows for data extraction, data analysis, and fraud detection in a versatile and efficient manner.

Audit Command Language (ACL) is an industry-standard computer-assisted audit tool developed by ACL Services Ltd. It enables auditors to analyze large volumes of data in various formats to detect anomalies that may indicate fraud, weak controls, or other areas of concern. The company offers a range of data-analytics software for audit, risk-management, and compliance professionals.

The Audit Commission was an independent public body responsible for ensuring that public money was spent economically and effectively in various sectors including local government, housing, health, and emergency services across England and Wales. It was replaced in 2015 by a new audit and accountability framework.

In public companies, a committee of non-executive directors that is responsible for oversight of financial reporting, internal and external audits, compliance with regulatory codes, and risk management. This committee enhances accountability, auditor independence, and public confidence.

An audit completion checklist is a crucial tool used by audit staff to ensure that the financial statements being audited provide a true and fair view in compliance with statutory disclosures and accounting standards.

Audit evidence encompasses the information and data collected by auditors to form an audit opinion on the financial statements of an enterprise. This evidence is derived from a variety of sources and through different methodologies to ensure the accuracy and reliability of the financial statements.

Audit exemption is the exemption from statutory audit by a registered auditor that can now be claimed by most small companies.

The divergence between the perceived role of an auditor and the expectations of financial statement users, subdivided into communication and performance gaps.

Audit Fees, also known as auditors' remuneration, are the amounts payable to auditors for conducting an audit of a company's financial statements, which must be distinguished from fees for non-audit work and approved during the company's annual general meeting.

An audit limited in scope due to restrictions on certain accounts, reduced period, or restricted access to records. Often pertinent in accounting and taxation scenarios.

A written document that explains the auditing policies and procedures of a firm, ensuring consistency and compliance in auditing practices.

An audit opinion is an expression provided by auditors within an auditors' report, stating whether the financial statements have been prepared consistently using appropriate accounting policies and standards, and if there is adequate disclosure of vital information.

A document outlining the strategy for managing inherent and control risks in relation to the financial statements of an audit client.

An audit program is a detailed listing of the steps to be taken by an auditor, such as a Certified Public Accountant (CPA), when analyzing transactions to determine the acceptability of financial statements. Major accounting firms may prepare an audit program for each client and require the person who does the work to sign or initial each step performed.

The Audit Programme is a document outlining individual audit tests to be performed as per the audit plan to ensure that the accounting system operates efficiently and effectively.

An audit report is a formal opinion or disclaimer issued by an auditor as a result of an audit or evaluation of an entity’s financial statements. It represents the auditor's findings and communicates them to the stakeholders.

Audit risk refers to the risk that auditors fail to qualify their audit report when the financial statements are materially misleading, i.e., do not provide a true and fair view. Audit risk is comprised of three components: inherent risk, control risk, and detection risk.

Audit rotation refers to a regulatory or policy requirement that mandates the periodic changing of an audit firm or auditor for a company to maintain the audits' objectivity and independence.

Computer programs used by auditors to examine an enterprise's computer files and review the system for compliance tests and substantive tests.

An audit strategy outlines the general approach and key components of the audit, serving as a blueprint for the audit plan, which details the specific procedures and steps to be taken.

An in-depth look into the purpose and different types of audit tests, including compliance tests and substantive tests, which are crucial for assessing the accuracy and completeness of financial statements.

Audit working papers contain detailed evidence and information gathered during an audit, forming the basis upon which auditors can form an opinion and providing critical future reference.

A comprehensive series of documents providing guidance on the application of auditing standards, originally issued by the Auditing Practices Committee (APC) and subsequently adopted by the Auditing Practices Board (APB).

The Auditing Practices Board (APB) was established to set high standards for auditing in the UK and the Republic of Ireland. It functioned from 1991 to 2012, after which it was replaced by the Audit and Assurance Council.

The Auditing Practices Committee (APC) develops auditing standards and guidelines that ensure effective audit practices in accordance with legal and regulatory requirements.

The Auditing Practices Committee (APC) was a committee under the Consultative Committee of Accountancy Bodies, tasked with issuing auditing standards and guidelines between 1976 and 1991.

Basic principles and essential procedures with which auditors are required to comply in conducting any audit of financial statements.

The Auditing Standards Board (ASB) is the American Institute of Certified Public Accountants' (AICPA) senior technical committee designated to issue Statements on Auditing Standards (SASs). Since 2002, ultimate oversight of the auditing profession in the United States has rested with the Public Company Accounting Oversight Board (PCAOB).

An auditor is a person or firm appointed to carry out an audit of an organization, ensuring financial statements are accurate and adhere to regulations.

An auditor's certificate, opinion, or report is an official document issued by an independent auditor asserting the accuracy and fairness of an organization's financial statements.

Auditors' remuneration is the compensation paid to auditors for the services they provide in scrutinizing a company's financial statements. This term is often interchangeable with audit fees.

An auditors' report, also known as an audit report, is an official opinion issued by auditors appointed to examine the financial statements of a company or organization. The report provides an independent assessment of whether the financial statements present a 'true and fair view' of the company's financial performance and comply with regulatory requirements. It plays a crucial role in ensuring transparency and accountability in financial reporting.

Autarky refers to the policy of establishing a self-sufficient and independent national economy, aiming to reduce or eliminate dependence on international trade.

Identification of a bond certificate as having been issued under a specific indenture, thus validating the bond. Also, legal verification of the genuineness of a document, as by the certification and seal of an authorized public official.

Authoritarian management is characterized by dictatorial and domineering styles where managers value employees' unquestioned obedience.

An authoritarian society is characterized by the existence of governmental authority over numerous phases of human conduct while lacking approval by the people for governmental action. It is distinguished from a totalitarian society, which covers all phases of human conduct.

Authority delegitimizes effective functioning within organizations and public bodies, easing decision-making and enforcement of rules and regulations.

An individual granted special authorization to act as the auditor of a company under the Companies Act 1967 due to their experience. These authorizations ceased in 1978 and since 1989, authorized auditors are not eligible to audit listed companies.

In the UK, the statutory minimum of £50,000 for the share capital of a public company. There is no minimum share capital for private companies.

Authorized share capital refers to the maximum amount of share capital that a company is authorized to issue as detailed in the company's memorandum of association. It is sometimes referred to as nominal share capital, nominal capital, or registered capital.

Authorized shares, or authorized stock, refer to the maximum number of shares that a corporation can issue as stated in its corporate charter. A corporation is not obligated to issue all of its authorized shares.

AUTOGEN is an automated system managed by the IRS that generates and mails a Federal Tax Deposit (FTD) coupon to taxpayers. This form accompanies employment tax deposits made at any Federal Reserve Bank.

An Automated Teller Machine (ATM) is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller.

An Automated Teller Machine (ATM) is a computerized terminal that allows individuals to perform banking transactions, such as cash withdrawals and deposits, without the need for a bank teller. ATMs provide 24-hour electronic access to bank accounts.