The Basis Period is a critical concept in accounting and taxation, referring to the specific period, usually a fiscal year, during which income generated or profits earned are used as the basis for assessing tax liabilities for the following tax year.
The current-year basis is an accounting principle used for tax assessment in the UK, wherein profits are taxed in a fiscal year based on the profits arising in the accounts for the period ending within that same tax year.
A financial ratio indicating the ability of a company to pay dividends to its ordinary shareholders out of its distributable profits. A higher ratio suggests stronger dividend-paying capacity and financial health.
Growth rate is a metric that illustrates the amount of change over a period in certain financial characteristics of a company, such as sales revenue or profits. It is usually expressed as a percentage and can be compared to the Retail Price Index or another inflation measure to evaluate the company's real performance.
Brief summaries of financial information often given some prominence in the annual accounts and report of a company. Highlights typically include key metrics such as sales revenue, profits, earnings per share, and dividends for the current and previous financial years.
A junior partner is a partner in a firm who is limited as to both profits and management participation.
Merchandise Control involves the systematic process of collecting and evaluating data on all aspects of each retail merchandise category, including sales, costs, shrinkage, profits, and turnover. This process helps retailers maintain accurate inventory and optimize their merchandising strategies.
Minority interest, also known as non-controlling interest, represents the shareholding of individual shareholders in a company where more than 50% is owned by a holding company. These shareholders are entitled to profits in the form of dividends but do not have significant influence over company policies.
An ordinary share is a type of equity ownership in a company that typically provides its holder with voting rights and a share of the company's profits.
Repatriation involves the movement of financial assets or profits of an organization or individual from a foreign country back to their home country, often for investment or distribution purposes.
An agreement between two countries that specifies how income, profits, or gains are taxed to prevent double taxation and provide tax relief.
A venturer is a party in a joint venture, an arrangement where two or more entities have joint control over an undertaking, sharing profits, losses, and control equally or as defined by a contractual agreement.
Windfall profit is a sudden, unexpected gain resulting from an event that is not controlled by the person or company benefiting from it. These profits often arise due to external factors such as natural disasters, government regulation changes, or sudden shifts in market dynamics.
The accumulation of accounts from the start of the fiscal year to the latest available period. Sales, purchases, and profits for any current week or month may be displayed year-to-date.
