An organizational report intended for outside circulation, external reports do not contain sensitive organizational information unless necessary to achieve a particular purpose.
Externalities are costs or benefits that affect third parties who did not choose to incur those costs or benefits, often a consideration in economics and public policy.
In economics, an externality represents a cost or benefit incurred by an economic agent that is not reflected through financial transactions. They can be positive or negative and can affect both individuals and businesses, with common examples including environmental pollution and increased local prosperity.
An extra dividend is an additional payment made to shareholders on top of the regular dividend, typically awarded after a particularly profitable year to reward shareholders and foster loyalty.
Extra Expense Insurance is designed to protect businesses by covering additional expenses incurred due to unforeseen emergencies, ensuring continual operations.
A concession made by HM Revenue and Customs (HMRC) to taxpayers, usually followed in practice but not specified in the tax legislation.
The extractive industry involves the extraction of raw materials, such as minerals and metals, from the earth. This includes various forms of mining to obtain resources such as copper, coal, oil, natural gas, and other valuable minerals.
A private network utilizing Internet technology to securely share parts of a business's information or operations with suppliers, vendors, partners, customers, or other businesses.
An assumption within an appraisal that is so essential that the value opinion would be erroneous if the assumption proved to be false.
Extraordinary dividends are dividends of unusual form and amount, paid at unscheduled times from accumulated surplus. They are typically larger than normal dividends and can occur due to specific financial events or exceptional earnings.
An Extraordinary General Meeting (EGM) is a meeting held between a company’s shareholders and management to discuss urgent matters that arise between annual shareholders' meetings. EGMs are used to deal with urgent business issues that require the input and approval of shareholders.
An Extraordinary General Meeting (EGM) refers to any meeting of the company members that is not an Annual General Meeting (AGM). EGMs can be convened by the directors at any time or requisitioned by members holding a specified percentage of shares, and require adequate notice as per the Companies Act 2006.
A nonrecurring occurrence that must be explained to shareholders in an annual or quarterly report.
Extraordinary items are costs or income that affect a company's profit and loss account but do not derive from the ordinary activities of the company. These items are unusual, infrequent, and not expected to recur.
An extraordinary resolution is a type of resolution that historically required specific notice and a supermajority vote during a company's general meeting to pass. These resolutions were necessary for critical decisions, such as winding up a company.
Extrapolation involves estimating unknown values by extending or projecting trends or patterns observed in existing data beyond the known data set.
EY is one of the Big Four accounting firms, providing assurance, tax, transaction, and advisory services internationally. Founded in the early 20th century, it rebranded to EY in 2013 and operates in over 150 countries.
Macroeconomic equilibrium is the point at which total aggregate income, or Gross Domestic Product (GDP), is produced when expected demand and supply are equated. This level of income consists of the planned spending of consumers, businesses, and government.
Net Realizable Value (NRV) represents the estimated selling price of an asset in the ordinary course of business, minus any predictable costs associated with the completion and sale of the asset. It is a critical metric in inventory valuation and accounting practices, ensuring realistic asset values are reflected in financial statements.
Partial eviction occurs when a tenant is deprived of a portion of the property they are leasing, resulting in adjustments to rental agreements.
Price elasticity is a measure of the responsiveness of the quantity demanded or supplied of a good to changes in its price. It helps businesses and economists understand the impact of price changes on supply and demand.
A Professional Employer Organization (PEO) is a firm that provides comprehensive HR solutions for small and medium-sized businesses, including payroll processing, employee benefits, human resources, tax administration, and regulatory compliance assistance.
Retained earnings represent the portion of net income that a company retains, rather than distributing it to shareholders as dividends, to reinvest in its core business or to pay off debt.
Standard costing involves assigning a predetermined cost to products or services, which serves as a benchmark for measuring performance and cost control.
Tax evasion is the illegal act of deliberately misrepresenting or not reporting income to reduce tax liabilities. This practice involves concealing income, inflating deductions, or using deceptive methods to evade tax obligations.
A trademark is a recognizable sign, design, or expression that identifies products or services of a particular source from those of others. Used by companies to protect brand identity and maintain market presence.
