Pg1

• Above-the-line promotion

  Using the media to share adverts
• Accrue


  The accumulation of benefits (usually money) over time
• Actuary

  A person employed by an insurance company to calculate insurance risks and premiums by compiling and analysing statistics
• Add value

  The extras that sellers sometimes provide when making a sale eg after-sales service
• Administrative barriers

  Rules and regulations (such as trading standards) that make it difficult for importers to enter a foreign market
• Administrative expenses

  Money that is spent on the general running of a business or organisation, rather than money spent on producing goods or selling services
• Advertising

  Communication between a business and its customers where images are shared in the media to encourage the purchase of products
• Advice note

  A document from a supplier saying when goods are to be delivered
• Affiliate marketing


  Where an online retailer pays commission to an external website for traffic or sales generated from its referrals
• Agenda

  A list of topics that will be discussed at a meeting
• Aids to trade


  The services provided to traders such as finance, warehousing and transport
• Annual general meeting (AGM)


  An annual meeting for a company's shareholders where the board gives a presentation relating to the state and performance of the business
• Anti-competitive or restrictive trade practices


  Methods used by firms to prevent or restrict competition
• Appointment

  A contract that outlines the specific products an agency may sell on behalf of an insurance company
• Appreciation (of a currency)

  Where the value rises and the exchange rate increases as a result
• Artificial intelligence (AI)

  The creation of intelligent machines that can learn to react like humans from the information gathered
• Assembly plant

  A factory where parts are put together to make a finished product
• Assessor

  A person appointed by the insured to negotiate an insurance claim with the insurer
• Assets

  Resources owned by a business such as cash, stock, machinery, tools and equipment
• Auditing

  Checking if transactions are accurate
• Average inventory

  An average of opening and closing inventory
• B2B

  Business to business
• Bad debt

  The loss of money when a customer fails to pay for goods
• Balance of payments

  A record of all transactions relating to International trade
• Balance of trade or visible balance

  The difference between the value of visible exports and the value of visible imports
• Bank draft

  A document like a cheque but drawn on the bank's funds not the drawer's
• Bank giro credit

  A system of payment that allows a payer to pay money directly into a payee's bank account
• Bank statement

  A document that shows the bank transactions, such as ATM withdrawals, standing orders and cheque payments, made by an account holder during the month. The bank balance is also shown
• Barriers to entry

  Restrictions (or limits) that mean it is difficult for new firms to enter a market
• Barter system

  A system of exchange where goods are swapped for other goods
• Below-the-line promotion

  Any promotion that does not involve using the media
• Bill of lading

  A legal document used in shipping that shows details of the goods, their destination and the terms under which the shipping company has agreed to carry them
• Bonded warehouse

  A warehouse used to store imports in order to delay the payment of customs and excise duties
• Bookkeeper

  The person responsible for keeping records of business transactions
• Brownfield sites

  Areas of land that were once used for urban development
• Bulk breaking

  Dividing a large quantity of goods received from a supplier before selling them on in smaller quantities to customers
• Business angel

  An entrepreneurial individual (usually wealthy) who provides a business with some capital in return for a stake. They may also provide guidance in the development of the business
• Call centre

  A large office that specialises in dealing with customer enquiries over the telephone
• Capital

  Finance provided by the owners of a business
• Capital accounts

  That part of the balance of payments which records transactions related to savings and investments, for example