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A PRIORIA Latin phrase meaning “known ahead of time” or more precisely, known without any empirical evidence or experience. This truth can be concluded without any experience or evidence. ABANDONAn option contract which is not enforced because it is out-of-the-money. ABANDONED BABYA rare candlestick pattern which can indicate either a new bullish or a new bearish trend. ABNORMAL ITEMAn income or expense which may be part of the company’s normal business but which is abnormal in amount.
So, an unusually high expense or income might be considered abnormal. ACCELERATED BOOKBUILDAn offering of new shares in the short term which is non-promoted to institutional investors in order to raise capital. An accelerated bookbuild is an immediate means of financing for a company or an individual, as was the case with Dischem’s accelerated bookbuild in December 2013. Debt instruments are basically IOU’s written by one organisation in favour of another. ACCEPTANCE DATEThe date on which the right acquired by a shareholder as a result of a rights issue must be exercised. Listed companies often raise additional capital from their existing shareholders by undertaking a rights issue.
ACCOMMODATIONThe extension of credit by the Reserve Bank to commercial banks. ACCOUNTANCYA set of conventions for recording and gathering financial transactions in an organisation. ACCOUNTING CONSERVATISMAccountants are notoriously conservative people. Conservatism applies to incomes, expenses, liabilities and assets of unknown amounts. To be conservative means generally expecting incomes to come in later and be smaller and to expect expenses to come in earlier and be larger. ACCOUNTING CONVENTIONThese are conventions developed by the accounting profession to ensure that the financial statements display a clear and accurate picture of the progress of the business during the accounting. ACCOUNTING PERIODThe period of time over which the financial affairs of a company are being accounted for.
The matching principle ensures that the incomes for the accounting period are off-set against the expenses for the same period in order to arrive at the profit or loss. ACCOUNTING POLICYA policy established by the board of directors for the allocation of transaction entries into the books of account. For public, listed companies, the accounting policies are normally set out in the first note to the financial accounts. ACCOUNTS PAYABLEAmounts owing to the company’s creditors in the balance sheet. ACCOUNTS RECEIVABLEAmounts owing to the company, usually by customers who have bought products on credit.