accounting period?The duration
of time, usually a year, for which a company prepares its accounts for external bodies, most
commonly the local jurisdiction’s tax authorities. The accounting period might
coincide with a calendar year or a tax year, or could start on the day the
company is formed or follow some other protocol. Accounting periods of months,
quarters and so on, can also be used for internal accounts.

bookkeeping, ‘accounts’ is the umbrella term for an organisation’s assets, liabilities income, expense equity and so on. Any
transaction, whether buying or selling, paying staff or paying or receiving
interest, should be logged in a manner that is easy and practical to retrieve
and the whole should be available for inspection by official or internal

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accumulation?The paying
of funds by a customer in a pension
or annuity
contract. The time prior to the paying back of the fund in the form of a pension
is known as the accumulation
phase, in this two-stage process, the other being the distribution

accumulation phase?The period
of an annuity contract
during which the customer (the annuitant)
pays the company, typically prior to retirement, whereupon the second phase,
the distribution,
commences and the fund is ‘repaid’ at the agreed rate.

acquisition?The purchase
by one business of another business, leading to expansion. This can involve the
purchase of a company’s shares
in part or in full, either way leading to control of the boardroom. Acquisition
can be an economical way of improving the performance of two sub-optimally
performing companies within a certain sector, as the back-office staff can often be shared,
as can machinery, logistics and sales; marketing costs can be reduced because
there will be less competition, particularly where the acquired company was a
major player. For the reasons given however, acquisitions are often accompanied
by redundancies. Acquisitions do not necessarily take place within a sector;
companies might acquire other companies to broaden their range of products and
services and take on board new expertise (see
also merger).