Understand the terms we use

Small Business Tax Advice Terms

Asset

A resource: (a) controlled by an entity as a result of past events; and ...

Learn More...
Back to Top
Credit Risk

The risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation.

Learn More...
Back to Top
Liquidity Risk

The risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset.

Learn More...
Back to Top
Property, Plant and Equipment

Tangible items that: (a) are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes; and ...

Learn More...
Back to Top