Business / Accounting / Cash Accounting: This term describes an accounting method whereby only invoices and bills which have been paid are accounted for. However, for most types of business in the UK, as far as the Inland Revenue are concerned as soon as you issue an invoice (paid or not), it is treated as revenue and must be accounted for. An exception is VAT: Customs & Excise normally require you to account for VAT on an accrual basis, however there is an option called 'Cash Accounting' whereby only paid items are included as far as VAT is concerned (eg. if most of your sales are on credit, you may benefit from this scheme - contact your local Customs & Excise office for the current rules and turnover limits).
Cash Noun Synonyms: money, currency, bills, notes, banknotes, change, hard cash or money, specie, coin of the realm, legal tender, moolah, dough, bread, loot, spondulicks or spondulix, lolly, ready, readies, scratch, gelt
Business / Accounting / Equity Method Or Accounting For Investments In Stocks: Method used to account for an investments in the stock of another company when significant influence can be imposed (presumed to exist when 20 to 50 percent of the outstanding voting stock is owned). MORE
Business / Finance / Equivalent Annual Cash Flow: The annual annuity with the same value as the net present value of an investment project. MORE