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A-Z Glossary of Accountancy Terms

Initially used as an internal training resource for our Graduates, due to popular demand we have decided to publish this invaluable resource online so that it can be used by one and all!

Either by using the search function or by clicking on one of the letters below, let us offer you an explanation to as many accounting terms as we could muster in one place!

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Zero rated (VAT)

Goods and services that are taxable for VAT, but the VAT rate is 0 per cent. If you sell zero-rated items, you can generally reclaim VAT on your purchases.

Zero-coupon bond

A bond issued at a discount to its maturity value which pays no interest over its life.