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 paid advertising model where a company sells its products through individuals or companies ("affiliates") who market the company's product 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)
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