Business Word/Phrase of the Day

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BAD DEBTS bæd dɛt

31 Jan 2020

Phrase

  • Are funds owing to a business which are determined to be uncollectable.
Example Sentence: If you extend credit to numerous customers, and your experience is that a certain amount of your sales on account will be uncollectable, you should probably set up a reserve for bad debts.
 

APPRAISED VALUE əˈpreɪz vælyu

30 Jan 2020

Phrase

  • Is the value placed on an item, product or business by an appraiser who is recognized for experience in a particular field.
Example Sentence: The appraised value of our business is much higher than we thought. One of our competitors has made enquiries about buying us out.
 

ACCOUNTS RECEIVABLE əˈkaʊnt rɪˈsivəbəl

29 Jan 2020

Phrase

  • This is the amount billed to customers and due from them but not yet collected.
Example Sentence: You must maintain an accounts receivable ledger account for each customer you extend credit to.
 

ACCOUNTS PAYABLE əˈkaʊnt peɪəbəl

28 Jan 2020

Phrase

  • Is the amount that the company has been billed but has not yet paid. This is money owed to its regular business creditors from whom it has bought goods and services.
Example Sentences: You should keep an accounts payable ledger account for each supplier.
Expenses from the cash disbursements journal are, at the end of each day, posted to the appropriate accounts payable ledger.
 

FLOATED /floʊt/

27 Jan 2020

Verb

  • start selling shares in a business or company for the first time
Example Sentences: The company plans to float next year.
We floated on the stock exchange last year.
 

SUBSIDIARY /səbˈsɪdiˌɛri/

26 Jan 2020

Noun

  • a company which is owned by a larger company
Example Sentences: How many subsidiaries does Hutchison Whampoa have?
We set up a subsidiary in the UK.
 

MERGED /mɜrdʒ/

25 Jan 2020

Verb

  • If two companies merge, they join together to form a single company
Example Sentences: When did Glaxo Welcome and Smithkline Beecham merge?
We merged with X company in 1990.
 

FOUNDED /faʊnd/

24 Jan 2020

Verb

  • started, set up, established a company or organisation
Example Sentences: She founded the company with a $10,000 bank loan
We were founded in 1981.
 

THE HIGH LIFE  

23 Jan 2020

Phrase

  • The high life is an exciting way of living in which rich and successful people enjoy themselves.
Example Sentences: After years of living the high life, I just want to settle down, have kids and live quietly.
 

LEGAL TENDER /ligəl tɛndər/

22 Jan 2020

Noun

  • Legal tender is the money which can be officially used in a country.
Example Sentences: A French person tried to pay using old British pound notes. I told him they weren't legal tender any more.
 

INVISIBLE EXPORTS /ɪnˈvɪzəbəl ɪkˈspɔrt/

21 Jan 2020

Noun

  • Services supplied to foreign countries such as banking and other financial services are called invisible exports
Example Sentences: Invisible exports now make up more than half of the United Kingdom's GDP
 

LUNCHEON VOUCHERS /lʌntʃən vaʊtʃər/

20 Jan 2020

Noun

  • Luncheon vouchers are given by employers to employees to buy meals in some restaurants.
Example Sentences: Selected workers would benefit from luncheon vouchers, free transportation to the construction site and accommodation on location.
 

PIECES OF EIGHT  

19 Jan 2020

Phrase

  • In the past, pieces of eight was the term used for gold coins. The Spanish created the term.
Example Sentences: Frank went searching for buried treasure off the coast of Florida; he found pieces of eight, the Spanish currency in the 1600s and 1700s.
 

SICK PAY /sɪk peɪ/

18 Jan 2020

Noun

  • Sick pay is money given by an employer to someone who cannot work because of illness.
Example Sentences: Surely your company won't give you indefinite sick pay; don't they specify a time limit?
 

SHARP-NOSED /ʃɑrp noʊz/

17 Jan 2020

Adjective

  • Someone who is sharp-nosed is good at dealing with money.
Example Sentences: David hasn't become rich by luck. He's a very sharp-nosed businessman.
 
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