Encyclopedia

Small Business Encyclopedia
Letter: A

Absenteeism

An employee's deliberate or habitual absence from work

Accountant

A person whose work it is to inspect, keep or adjust accounts

Accounting

A business's bookkeeping system that tracks the money coming in vs. the money going out

Accounts Payable

A company's outstanding debts, or liabilities, to vendors for purchases of goods and services made on credit

Accounts Receivable

The money due from all customers for merchandise or services delivered on credit. The total figure would be shown on the balance sheet as an asset

Accrual Accounting

Accounting method that records revenues and expenses when they are incurred, regardless of when cash is exchanged. The term "accrual" refers to any individual entry recording revenue or expense in the absence of a cash transaction

Acquisition

The purchase of one corporation by another, through either the purchase of its shares, or the purchase of its assets

Advertising

To call the public's attention to your business, usually for the purpose of selling products or services, through the use of various forms of media, such as print or broadcast notices

Advisory Boards

A group of individuals who've been selected to help advise a business owner regarding any number of business issues, including marketing, sales, financing, expansion and so on; a body that advises the board of directors and management of a corporation but does not have authority to vote on corporate matters

Affiliate Marketing

A way for a company to sell its products by signing up individuals or companies ("affiliates") who market the company's products for a commission

Alliances

Joining forces with another company or individual to combine talents or strengths in order to attract more business

Alternative Minimum Tax (AMT)

A separate tax system designed to keep high-earning corporations and individuals from reducing their taxes to a level that the federal government considers too low

Americans With Disabilities Act (ADA)

A federal law enacted in 1990 that makes it illegal for employers with 15 or more employees to refuse to hire qualified people with disabilities if making "reasonable accommodations" would enable the person to carry out the duties of the job

Angel Investor

An individual who invests his or her own money in an entrepreneurial company

Arbitration

A formal dispute resolution process that's legally binding on the parties

Assets

The value of any tangible property and property rights owned by a company less any reserves set aside for depreciation. Assets don't reflect any appreciation in value unless they're sold for the greater value.

Attorney

A person who's been formally trained in the law, especially one whose profession is advising others in matters of law or representing them in lawsuits

Auto Insurance

A contract for an automobile in which one party agrees to pay foranother party's financial loss resulting from a specified event(for example, a collision, theft or storm damage)

Latest Articles