ABC

Activity-based costing

ACCA

The Association of Chartered Certified Accountants

ARR

Accounting rate of return

ASB

Accounting Standards Board

ASC

Accounting Standards Committee

BEP

Breakeven point

b/f

Brought forward

c/f

Carried forward

CA85

Companies Act 1985

CIMA

The Chartered Institute of Management Accountants

CIPFA

The Chartered Institute of Public Finance and Accountancy

CWA

Continuous weighted average

DCF

Discounted cash flow

DTI

Department of Trade and Industry

EPS

Earnings per share

FIFO

First in, first out

FRS

Financial Reporting Standard

FRSSE

Financial Reporting Standard for Smaller Entities

GAAP

Generally Accepted Accounting Principles

HP

Hire purchase

IAS

International Accounting Standards

IASB

International Accounting Standards Board

ICAEW

The Institute of Chartered Accountants in England and Wales

ICAI

The Institute of Chartered Accountants in Ireland

ICAS

The Institute of Chartered Accountants in Scotland

IFRS

International Financial Reporting Standards

IOSCO

International Organisation for Securities Commissions

IRR

Internal rate of return

JIT

Just-in-time

LLP

Limited liability partnership

LSE

London Stock Exchange

Ltd

Limited

NBV

Net book value

NPV

Net present value

NRV

Net realisable value

P/E

Price/earnings

PAT

Profit after tax

PBIT

Profit before interest and tax

PLC/plc

Public limited company

PV

Present value

ROCE

Return on capital employed

ROE

Return on equity

SBS

Small Business Service

SME

Small and medium-sized entities

SoP

Statement of Principles for Financial Reporting

SSAP

Statement of Standard Accounting Practice