Glossary

This is a glossary of technical and business terms used in this web site. It is intended to enhance your understanding of the articles we write and to explain what we mean by those terms.

The link under the Resources column will take you to another page that gives you additional information about the term:
in the case of a business term it may be a worked example;
there may be a calculator that you can download and use in your own business;
it may take you to another area of the web where there are additional resources to enhance your understanding.

PLEASE NOTE - this list is still under construction


A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

   Term Definition  Resources 
A      
  Accrual An accounting provision for an expense that is known but is not due to be paid until some future financial period.  
B      
  Balanced scorecard  A management technique that recognises that business strategy has to be balanced and that performance should be measured using a holistic approach.   
C      
  Cash flow The movement of cash experienced by a business over a period of time.  
  Churn rate A measure of the number of customer contracts that a business adds or looses over a period of time.   More
  Cloud computing The delivery of computing as a service rather than a product  More
D      
  Debtor days A measure of the time it takes for a business to receive payment from it's customers.  
E      
F      
  Financial period The period used for calculating financial results. For financial accounting it may be a year, or for large organisations, a quarter year or a half year. For management accounting t can be any period of time, a day, a week, a fortnight or a month depending on the type of business and it's rhythm.  
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H      
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K      
  KPI Key Performance Indicator.
A type of measure of performance used by an organization to evaluate the success of an activity in which an individual, a team, a department or the whole organisation is engaged. Making such measurements not only helps manage performance but also increases the understanding of the dynamics of the organisation. 
 
L      
M      
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Q      
R      
  Rhythm A term we use in this web site to describe the trading pattern of a business. Whilst all businesses are usually open every business day they may not have a daily trading pattern. They may sell something each day but if, say, they are selling an ongoing service that is paid for and reviewed weekly, then that business will have a weekly rhythm.
We believe that identifying the business rhythm is important in the design of the business system.  
 
S      
   SME Small to Medium Enterprise. The Australian Tax Office definition of an SME is a business with and annual turnover of between $2 million and $250 million. According to Charles Sturt University the small business sector accounts for 96% of total businesses in Australia. More
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