Understand the terms we use

Management Consulting Terms

Accrual basis of accounting

The effects of transactions and other events are recognised when they occur (and not as cash or its equivalent is received or paid) and they are recorded in the accounting records and reported in the financial statements of the periods to which they relat

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Depreciation (amortisation)

The systematic allocation of the depreciable amount of an asset over its useful life.

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Inventories Held for Distribution

In respect of not-for-profit entities, inventories held for distribution are assets: ...

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Net Lending/(Borrowing)

The financing requirement of government, calculated as the net operating balance less the net acquisition of non-financial assets. A positive result reflects a net lending position and a negative result reflects a net borrowing position. Based on the defi

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