The body in the UK that sets accounting statements of practice.

The ratio of liquid assets to current liabilities.

Something that exists independently, for example a business exists independently of its owner.

Users of financial statements that are not allowed access to financial documents on a day-to-day basis.

The way in which financial statements are laid out in the order they appear.

International Accounting Standard, issued by the IASB’s predecessor body.

Stocks of goods held for resale or manufacture.

An alternative phrase for gearing.

An investor that is deciding whether to invest into a company.

The yield or reward on an investment.

The relationship between a principal and an agent, for example in a limited liability the company is the principal and the director is the agent.

Similar to depreciation, applied to fixed assets.