GLOSSARY. Assetsof a company are all the things that it owns

Assetsof a company are all the things that it owns. The size of the company is measured in terms of its assets.

Charity –organization to relieve poverty, advance religion or education, etc; benefits from some financial concessions

Company (UK) – organization operating to make profit

Cooperative – democratic firm owned by its workers

Corporation (US) –society friendly association of people; for example, a sports society (society + firm)

Current assets generally consist of cash, marketable securities, receivables, inventories and prepayments. They can be converted into cash within one year.

Dividend – a part of a company’s profits paid to shareholders, usually once or twice a year.

Division – a part of company that is responsible for a certain product, service or area.

Enterprise – new commercial activity, for example, How's your new enterprise? Also in some company names; for example, Smiths Enterprises

Fixed assets are assets which a company uses on a continuous basis such as property and machinery.

Government agency – organization which is part of the state administration

Holding companyis a company that has enough shares in one or more other companies to be able to control the other companies.

Intangible assets are assets which are non-physical in nature, such as patents and trademarks.

Liabilitiesare the sums of money which it owes.

Limited companyis a company whose owners are legally responsible for only a part of any money that it may owe if it goes bankrupt.

Managing Director – a top manager in a company, just under the Chairman or President.

Merger is the joining together of two separate companies or organizations so that they become one.

Minority interest – company in which another firm has less than a 50 per cent interest

Multinational – organization operating in several countries

Nationalized company –company owned by the state

Offshore company – firm based in a tax haven to avoid higher taxation

Operation – general word for a company, usually a small one, and part of a large group. It also means activity; for example, our commercial operation

Parent company – company which owns another

Parent company – the head company in a group.

Partnership is a relationship in which two or more people, business or industries work together as partners.

Personal Assistant – the secretary of a manager in a company.

PR – public relations – official communication between a company and the media/public, in order to present the best image.

Premises – the land and building occupied by a company.

Private company – company whose shares are not publicly available

Public company – company whose shares are publicly available

Purchasing – the act of buying goods; the department in a company which does this.

Sole proprietoris a person who owns his own business and does not have a partner or any shareholders.

Subsidiary – a company that is owned by another company.

Takeoveris the act of gaining control of a company by buying more of its shares than anyone else.

Tangibleassets are assets which are physical in nature, such as factories and offices.

Turnover – the total sales of a company.