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Home /  Education News
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  • Accounting Acronym | Accounting Abbreviation | Accounting Short Form

  • Arjun EP
  • Published on: August 7, 2021

  • File

     

     

    ACCOUNTING ACRONYMS TO KNOW

    An acronym is a word formed from the initial letters of a name or by combining initial letters of a series of words.

     

    Types of abbreviations:

    There are four main types of abbreviations; they are shortenings, contractions, initialisms and acronyms.

    1. Shortenings

    Generally, in shortenings the first few letters of the full form are taken.

    They are spelled with a final period when they are still regarded as abbreviations.

    Example: cont. = continued; in = inch.

     

    In the cases when they form words in their own right, the period is omitted.

    Such shortenings are often but not always informal.

    Example: hippo = hippopotamus, limo = limousine

     

    Some become the standard forms then the full forms are regarded as formal or technical.

    Example: bus = omnibus; taxi = taxicab; deli = delicatessen; zoo = zoological garden.

     

    Sometimes shortenings are altered to facilitate their pronunciation or spelling.

    Example: bike = bicycle

     

    2. Contractions

    Contractions are abbreviated forms in which letters from the middle of the full form have been omitted.

    Example: Dr. = debit; Dr. = doctor; St. = saint or street.

    Such forms are invariably followed by a period.

    Another kind of contraction is the type with an apostrophe marking the omission of letters.

    Example: can’t = cannot; didn’t = did not; you’ve = you have.

     

    3. Initialisms

    Initialisms are made up of the initial letters of words and are pronounced as separate letters.

    Example: CIA C.I.A.; pm or p.m.; U.S. or US.

     

    4. Acronyms

    Acronyms are initialisms that have become words in their own right, or similar words formed from parts of several words.

    They are pronounced as words rather than as a series of letters.

    Example: AIDS; UNESCO; SAARC

    In many cases, the acronym becomes the standard term and the full form is only used in explanatory contexts.

     

    A

    AAT – Association of Accounting Technicians

    ACIS – Associate of the Institute of Chartered Secretaries and Administrators

    ACMA – Associate of the Chartered Institute of Management Accountants

    A&A – audit and assurance

    AAA – American Association of Attorney

    AAA – Authentication Authorization Accounting

    AAAA – Asian Academic Accounting Association

    AAOIFI – Accounting and Auditing Organization of Islamic Financial Institutions (Bahrain)

    AARF – Australian Accounting Research Foundation

    AAS – Australian Accounting Standards

    AASB – Australian Accounting Standards Board

    AASOC – Auditing and Assurance Oversight Council (Canada)

    ABB – activity based budgeting

    ABC – activity based costing

    ABI – Association of British Insurers (United Kingdom)

    A/c – account

    A/R – account receivable

    ACCA – Association of Chartered Certified Accountants (United Kingdom)

    ACCR – accrued

    ACCT – accounting

    ACEVO – Association of Chief Executives of Voluntary Organizations

    ACGA – Asian Corporate Governance Association (ACGA)

    AcSB – Accounting Standards Board in Canada

    AcSOC – Accounting Standards Oversight Council (Canada)

    ACT – Association of Corporate Treasurers (United Kingdorn); advance corporation tax

    ADJ – adjustment

    ADR – American Depository Receipts

    ADT – auditing

    AE – accrued expenses

    AFAANZ – Accounting and Finance Association of Australia and New Zealand

    AGF – Auditor General Form

    AGM – annual general meeting

    AIA – Association of International Accountants (United Kingdom)

    AIBD – Association of International Bond Dealers

    AICPA – American Institute of Certified Public Accountants

    AIDB – Accountancy Investigation and Disciplinary Board (United Kingdom)

    AIU – Audit Inspection Unit (United Kingdom)

    AMEX – American Stock Exchange

    AMPS – auction market preferred stock

    A/P – accounts payable

    APB – Accounting Principles Board (United States)

    APB – Auditing Practices Board (United Kingdom)

    APEC – Asia Pacific Economic Cooperation

    APR – annualized percentage rate

    APT – Auditing Practices Committee (United Kingdom)

    A/R – accounts receivable

    ARC – Accounting Regulatory Committee (European Union)

    ARDF – Accounting Research and Development Foundation (Taiwan)

    ARR – Accounting Rate of Return, Average Rate of Return

    ASB – Accounting Standards Board (New Zealand, United Kingdom)

    ASB – Auditing Standards Board (United States)

    ASBJ – Accounting Standards Board of Japan

    ASC – Accounting Standards Committee (United Kingdom)

    ASCA – Arab Society of Certified Accountants

    ASCPA – Australian Society of Certified Public Accountants

    ASCS – American Society of Corporate Secretaries

    ASSC – Accounting Standards Steering Committee (United Kingdom)

    ASU – accounting standards update

    AYB – actual year basis

    AVC – additional voluntary contribution

    AMT – alternative minimum tax

    APACS – Association for Payment Clearing Services

    APB – Accounting Principle Board; Auditing Practices Board

    APC – Auditing Practices Committee

    ASCII – American Standard Code for Information Interchange

    ASOBAT – a statement of basic accounting theory

    ATII – Associate of the Taxation Institute Incorporated

    AATT – Associate of the Association of Tax Technicians

    AMPS – auction market preferred stock

    AVCO – average cost

    ARM – adjustable-rate mortgage

     

     

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    B

    B&C – bond and coupon

    b/d – brought down

    b/f – balancing figure; brought forward

    B/R – bills receivable

    B2B – business to business

    BAC – Business Accounting Council (Japan)

    BACS – Bankers Automated Clearing System

    BAFA – British Accounting and Finance Association

    BAHA – British Association of Hospitality Accountants

    BB – Bank of Bangladesh

    BBA – British Accounting Association  

    BDV – budget day value

    BE – budget expenditure

    BEA – break-even analysis

    BEP – break-even point

    BES – business expansion scheme

    BGC – bank giro credit

    BOD – bank overdraft

    BOE – Bank of England

    BOJ – Bank of Japan

    BRS – bank reconciliation statement

    BS – balance sheet

    BSE – Bombay Stock Exchange

    BSV – book salvage value

    BUDG – budgeted

    BV – book value

    BV – business valuation

     

    Keep in Mind

    Stock Exchange in SAARC

    Countries

    Name of stock exchange

    Afghanistan

    Afghanistan Stock Exchange, Dhaka, Kabul, Afghanistan

    Bangladesh

    Dhaka Stock Exchange, Dhaka, Bangladesh

    Bhutan

    Royal Security Stock Exchange, Thimphu, Bhutan

    India

    Bombay Stock Exchange, Mumbai, India

    Maldives

    Maldives Stock Exchange, Male, Maldives

    Nepal

    Nepal Stock Exchange, Kathmandu, Nepal

    Pakistan

    Karachi Stock Exchange, Karachi, Pakistan

    Sri-Lanka

    Colombo Stock Exchange, Colombo, Sri Lanka

     

     

    C

    C&F – carried and forward

    c/d – carried down

    C/S – cost sharing

    C+MV – cost plus market value

    C2B – consumer-to-business

    CA – Chartered Accountants

    CA – current asset

    CAATs – computer-assisted audit techniques

    CAC – Corporate Affairs Commission

    CAFA – comprehensive annual financial report

    CAMA – Company Allied Matter Act

    CAPA – Confederation of Asia and Pacific Accountants

    CapEx – capital expenditure

    CAPM – capital asset pricing model

    CAPM – capital asset pricing model; Certified Associate in Project Management

    CAQ – center for audit quality

    CASB – Cost Accounting Standard Board

    CASC – China Accounting Standards Committee

    CBA – cost-benefit analysis

    CBS – Consolidated Balance Sheet

    CBSL – Central Bank of Sri Lanka

    CCA – current cost accounting

    CCAB – Consultative Committee of Accountancy Bodies

    CCAB – Consultative Committee of Accountancy Bodies (United Kingdom)

    CCAR – current cost accounting reserve  

    CCE – current cash equivalent

    CD – certificate of deposit; cost driver

    CEDEL – Central de Livraison de Valeurs Mobilieres

    CEO – Chief Executive Officer

    CESR – Council of European Security Regulators

    CETR – capital employed turnover ratio

    CFAT – cash inflow after tax and depreciation

    CFC – Conselho Federal de Contabilidade (Brazil)

    CFO – Chief Finance Officer

    CFO – Chief Financial Officer

    CFP – Certified Financial Planner

    CFTDR – cash flow to total debt ratio

    CGA – Certified General Accountants Association of Canada

    CGT – capital gain tax

    CGU – cash generating unit

    CHAPS – Clearing House Automated Payment System

    CHIPS – Clearing House Interbank Payments System

    CIA – Certified Internal Auditor (United States)

    CICA – Canadian Institute of Chartered Accountants

    CICPA – Chinese Institute of Certified Public Accountants

    CIMA – Chartered Institute of Management Accountants (United Kingdom)

    CIPFA – Chartered Institute of Public Finance and Accountancy (United Kingdom)

    CIT – Chartered Institute of Taxation (United Kingdom)

    CITA – Company Income Tax Act

    CL – current liability

    CMA – Certified Management Accountant

    CMA – Certified Management Accountants (Canada)

    CMO – collateralized mortgage obligation

    CNC – Conseil National de la Comptabilite (France)

    CoCoA – continuously contemporary accounting

    COE or Ke – cost of equity

    COGS – cost of goods sold

    COO – Chief Operating Officer

    COSA – cost of sales adjustment

    CPA – Certified Public Accountant

    CPA -Certified Public Accountants

    CPI – consumer price index

    CPM – cost per mile

    CPP – current purchasing power

    CPP Accounting – current purchasing power accounting

    CPPM – current purchasing power method

    CPU – cost per unit

    Cr – credit

    CRO – Company Registrar Office

    CSR – corporate social responsibility

    CSV – cash salvage value

    CT – corporate tax

    CTR – capital turnover ratio

    CTT – capital transfer tax

    CULS – converted unsecured loan stock

    CULS – convertible unsecured loan stock

    CV – cash value

    CVPA – cost-volume-profit analysis

     

     

    D

    DASC – Danish Accounting Standards Committee

    DAB – Da Afghanistan Bank

    DBM – declining balance method; diminishing balance method

    DBMS – database management system

    DBR – Drum-Buffer-Rope

    DC – direct cost

    DCF – discounted cash flow

    DCV – direct charge voucher

    DDBM – double declining balance method

    Dmat account – dematerialised account

    Depn – depreciation

    DER – debt equity ratio

    DJIA – Dow Jones Industrial Average

    DL – direct labour

    DP – data processing

    DPS – dividends per share

    Dr – debit

    DSS – decision support system

    DTCO – District Treasury and Comptroller Office

    DTP – desktop publishing

     

    E

    EAA – European Accounting Association

    EAA – European Accounting Association

    EAT – earnings after tax

    EBIT – earnings before interest and taxes

    EBITDA – earnings before interest, taxes, depreciation and amortization

    EBP – Employee Benefit Plan

    EBT – earnings before tax

    ECG – European Corporate Governance Institute

    ECGD – Export Credits Guarantee Department

    ECGI – European Corporate Governance Institute

    ECB – European Central Bank

    ECP – Euro Commercial Paper

    ECU – European Currency Unit

    EDGAR – electronic data gathering, analysis, and retrieval system

    EDI – electronic data interchange

    EDP – electronic data processing

    EFRAG – European Financial Reporting Advisory Group

    EFT – electronic funds transfer

    EFTPOS – electronic funds transfer at point of sale

    EGM – extraordinary general meeting

    EIC – Emerging Issues Committee (Canada)

    EIS – enterprise investment scheme

    EIS – Enterprise investment scheme

    EITF – Emerging Issues Task Force

    EMH – efficient market hypothesis

    EMS – European Monetary System

    EMS – European Monetary System

    EMU – economic and monetary union

    EMV – expected monetary value

    EOQ – economic order quantity

    EPS – earnings per share

    ERP – enterprise resource planning

    ESOP – employee share ownership plan

    ESOT – employee share ownership trust

    ETF – electronic transfer of funds

    EV – expected value

    EVA – economic value added

    Exp – expense

     

     

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    F

    F&A – facilities and administrative costs

    F&F – furniture and fixture

    FA – fixed assets

    FACPCE – Federacion Argentina de Consejos Profesionales de Ciencias

    FAF – Financial Accounting Foundation

    FAF – Financial Accounting Foundation (United States)

    FARR – Financial Accounting and Reporting Rules for Entities (China)

    FAS – financial accounting standards

    FASAC – Financial Accounting Standards Advisory Council (United States)

    FASB – Financial Accounting Standards Board

    FASB – Financial Accounting Standards Board (United States)

    FASC – Financial Accounting Standards Committee (Taiwan)

    FASF – Financial Accounting Standards Foundation (Japan)

    FATR – fixed assets turnover ratio

    FC – fixed cost

    FD – fixed deposit

    FDR – Federal Reserve Bank

    FE – fixed expenses

    FEE – Federation des Experts Comptables Europeens (Belgium)

    FER – Fachempfehlungen zur Rechnungslegung – Swiss GAAP (Switzerland)

    FFO – funds from operation

    FIAO – free in and out

    FIDEF – Federation Internationale des Experts Comptables Francophones (France)

    FIFO – first in, first out

    FII – franked investment income

    FIM – fixed installment method

    FIMBRA – Financial Intermediaries, Managers and Brokers Regulatory Association

    FinREC – Financial Reporting Executive Committee

    FMCG – fast-moving consumer goods

    FOB – free on board

    FOEV – fixed overhead expenditure variance

    Forex – foreign exchange

    FOTV – fixed overhead total variance

    FOVV – fixed overhead volume variance

    FRA – forward rate agreement

    FRA – forward-rate agreement

    FRC – Financial Reporting Council

    FRC – Financial Reporting Council (United Kingdom)

    FRED – Financial Reporting Exposure Draft (United Kingdom)

    FRF – Financial Reporting Foundation (Malaysia)

    FRN – floating-rate note

    FRR – Financial Reporting Release (United States)

    FRRP – Financial Reporting Review Panel (United Kingdom)

    FRS – Federal Reserve System

    FRS – Financial Reporting Standards (New Zealand, United Kingdom)

    FRSB – Financial Reporting Standards Board (New Zealand)

    FRSSE – financial reporting standard for smaller entities

    FRSSE – Financial Reporting Standard for Smaller Entities (United Kingdom)

    FSA – Financial Services Act (1986)

    FSR – Foreningen af Stalsautoriserede Revisorer (Denmark)

    FV – future value

    FX – foreign exchange

    FY – financial year; fiscal year

     

     

    G

    G5 – group five (France, Germany, Japan, the United Kingdom and the United States)

    G8 – group eight (Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States)

    GA – gearing adjustment

    GAAP – generally accepted accounting principles

    GAAS – generally accepted auditing standards

    GAGAP – generally accepted government accounting principles

    GAO – Government Accountability Office

    GASB – Government Accounting Standards Board (United States)

    GDP – gross domestic product.

    GL – general ledger

    GM – gross margin

    GNP – gross national product

    GP – gross profit

    GPFS – general purpose financial statements

    GPM – gross profit margin

    GPR – gross profit ratio

    GR – gearing ratio

    GRN – goods received note

    GSCCAB – Gibraltar Society of Charter Certified Accountancy Bodies

    GST – goods and service tax

     

     

     

    H

    HC – holding company

    HCA – historical cost accounting

    HIP – human-information processing

    HKICPA – Hong Kong Institute of Certified Public Accountants

    HKSE – Hong Kong Stock Exchange

     

    I

    IAAER – International Association for Accounting Education and Research

    IAASB – International Auditing and Assurance Standards Board

    IAB – International Association of Bookkeepers

    IAFEI – International Association of Financial Executives Institutes

    IAPA – International Association of Practising Accountants (United Kingdom)

    IAPC – International Auditing Practices Committee

    IAS – International Accounting Standard

    IASB – International Accounting Standards Board

    IASC – International Accounting Standards Committee

    IBRD – International Bank for Reconstruction and Development

    ICAA – Institute of Chartered Accountants in Australia

    ICAC – Instituto de Contabilidad y Auditoria de Cuentas (Spain)

    ICAEW – Institute of Chartered Accountants in England and Wales

    ICAI – Institute of Chartered Accountants in Ireland

    ICAN – Institute of Chartered Accountants of Nepal

    ICAN – Institute of Chartered Accountants of Nigeria

    ICANZ – Institute of Chartered Accountants of New Zealand

    ICAS – Institute of Chartered Accountants of Scotland

    ICQ – internal control questionnaire

    ICSA – Institute of Chartered Secretaries and Administrators (United Kingdom)

    IFAC – International Federation of Accountants (United States)

    IFAD – International Forum for Accountancy Development

    IFAEC – International Federation of Accountants Education Committee

    IFRIC – International Financial Reporting Interpretations Committee (IASB)

    IFRS – International Financial Reporting Standard

    IGC – Implementation Guidance Committee

    IHT – inheritance tax

    IHT – inheritance tax

    IIA – Institute of Internal Auditors

    IMA – Institute of Management Accountants (United States)

    IMF – International Monetary Fund

    IMRO – Investment Management Regulatory Organisation

    INTOSAI – International Organization of Supreme Audit Institutions (Austria)

    IOSCO – International Organisation for Securities Commission

    IOSCO – International Organization for Securities Commissions

    IPO – Initial Public Offering

    IPSAS – International Public Sector Accounting Standards

    IRA – individual retirement account

    IRFAA- International Regional Federation of Accountants and Auditors EURASIA “Eurasia”

    IRR – internal rate of return

    IRS – internal revenue service

    ISA – individual savings accounts

    ISA – International Standards on Auditing

    ISACA – Information Systems Audit and Control Association (United States)

    ISAR – United Nations Intergovernmental Work Group of Experts on International Standard: Accounting and Reporting

    ISO – International Organization for Standardization

    IT – income tax

    IT – information technology

    ITF – integrated test facility

    ITR – inventory turnover ratio

    IVSC – International Valuation Standards Committee (United Kingdom)

     

     

    Keep in Mind

    Types of ISO Certifications

    ISO 9001

    Quality Management System (QMS)

    ISO 10002

    Quality Management Customer Satisfaction

    ISO 13485

    Medical Devices Quality Management System (QMS)

    ISO 14001

    Environmental Management System (EMS)

    ISO 20000

    IT Service Management System (ITSM)

    ISO 22000

    Food and Safety Management System (FSMS)

    ISO 22301

    Business Continuity Management System (BCMS)

    ISO 26000:2010

    Social Responsibility Awareness

    ISO 27001

    Information Security Management System (ISMS)

    ISO 29001

    Oil and Gas Management System (OGMS)

    ISO 29990

    Quality Management System – Non-Formal Education and Training

    ISO 31000

    Risk Management

    ISO 45001

    Occupational Health & Safety Management System

    ISO 50001

    Energy Management System (EnMS)

     

     

    J

    JICPA – Japanese Institute of Certified Public Accountants

    JIT – just-in-time

    JDS – joint disciplinary scheme

     

    K

    KASB – Korean Accounting Standards Board

    K – real risk free rate of interest

     

    L

    L/C – letter of credit

    LAN – local area network

    LAUTRO – Life Assurance and Unit Trust Regulatory Organisation

    LBO – leveraged buy out

    LBO – leveraged buyout

    LF – ledger folio number

    LH – labour hours

    LIAB – Licentiate of the International Association of Book-keepers

    LIBID – London Inter-Bank Bid Rate

    LIBOR – London Inter-Bank Offered Rate

    LIFFE – London International Financial Futures and Options Exchange

    LIFFE – London International Financial Futures and Options Exchange

    LIFO – last in, first out

    LIMEAN – London Inter-Bank Mean Rate

    LLC – Limited Liability Company

    LOR – letters of response

    LSE – London Stock Exchange

    Ltd – Limited

    LTL – long-term liabilities

     

    ###########

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    ###########

     

     

    M

    M/s – messrs

    MAS – Malaysian Accounting Standards

    MASB – Malaysian Accounting Standards Board

    MBO – management by objectives; management buy out

    MCT – mainstream corporation tax

    MD&A – management discussion and analysis

    MD&A – Management Discussion and Analysis (United States)

    MH – machine hours

    MIRAS – mortgage interest relief at source

    MIS – management information systems

    MLA – mandatory liquid assets

    MLA – mandatory liquid assets

    MMA – Maldivian Monetary Authority

    MMC – Monopolies and Mergers Commission

    MOS – margin of safety

    MRN – materials returns note

    MRP – maximum retail price

    MTN – medium-term note

    MVA – market value added

    MWC – monetary working capital

    MWCA – monetary working capital adjustment

     

    N

    N/R – notes receivable

    NAA – National Association of Accountants

    NAO – National Audit Office

    NASD – National Association of Security Dealers

    NASDAQ – National Association of Security Dealers Automated Quotation System

    NAV – net asset value

    NBFC – Non-Banking Financial Company

    NBV – net book value

    NBV – net book value

    NCA – non-current asset

    NCFFA – net cash from financing activities

    NCFIA – net cash from investing activities

    NCFOA – net cash from operating activities

    NCL – non-current liability

    NCO – net capital outlay

    NEPSE – Nepal Stock Exchange

    NI – net income

    NIC – National Insurance Contribution

    NIFO – next-in-first-out

    NIFO cost – next-in-first-out cost

    NIT – negative income tax

    NPO – non-for-profit organisation; non-profit organisation

    NPV – net present value

    NRB – Nepal Rastra Bank

    NRS – Norsk RegnskapsStiftelse (Norway)

    NRV – net realizable value

    NRV – net realizable value

    NSC – National Savings Certificates

    NSF – non-sufficient funds

    NYSE – New York Stock Exchange

     

    O

    O/s – Outstanding

    OBSF – off balance sheet fiancé; off balance sheet financing

    OCM – original cost method

    OD – overdraft

    OE – operation expenses

    OE – owner’s equity

    OECD – Organization for Economic Cooperation and Development

    OFT – office of fair trading

    OMV – open-market value

    OPEB – other post-retirement employee benefit

    OTC market – over-the-counter market

     

    P

    (P) – private

    P&L – profit and loss

    P/D ratio – price-dividend ratio

    P/V ratio – profit volume ratio

    PA – Public Accountant

    PAC – Public Accounting Council (Canada)

    PAN – permanent account number

    PAT – profit after tax

    PAYE – pay as you earn

    PBD – provision for bad debts

    PBP- payback period

    PBT – profit before tax

    PC – purchase consideration

    PCAOB – Public Company Accounting Oversight Board (United States)

    PCB – petty cash book

    PCC – Private Company Council

    PCF – petty cash fund

    PCP – permissible capital payment 

    PDD – provision for doubtful debts

    PDR – price dividend ratio

    PEP – personal equity plan

    PER – price earnings ratio

    PERT – programme evaluation and review technique

    PET – potentially exempt transfer

    PI – profitability index

    PIA – Personal Investment Authority

    PIBS – permanent interest bearing share

    PINC – property income certificate

    PITA – Personal Income Tax Act

    PLC – Public Limited Company

    POBA – Professional Oversight Board for Accountancy (United Kingdom)

    POS – point of sale

    PR – purchase requisition

    PRB – Peer Review Board

    Prop – proprietor

    PRP – profit-related pay

    PRT – petroleum revenue tax

    PSAB – Public Sector Accounting Board (Canada)

    PSASB – Public Sector Accounting Standards Board (Australia)

    PSBR – public sector borrowing requirement

    PSR – profit-sharing ratio

    Pte – private

    PV – profit volume

    PV – purchase value

    Pvt – private

    Pvt Ltd – Private Limited

    PYB – preceding year basis

    PYB – preceding-year basis

     

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    Q

    QC – quality control

    ql – quintal

    Qly – quality

    Qn – question

    Q or Qtr – quarter

    Qty – quantity

    QR – quick ratio

    QR code – quick response code

     

    R

    ® – registered

    R&D – research and development

    R&M – repairs and maintenance

    RAFT – revolving acceptance facility by tender

    RAFT – revolving acceptance facility by tender

    RBA – Reserve Bank of Australia

    RBI – Reserve Bank of India

    RBNZ – Reserve Bank of New Zealand

    Ref – reference

    REIT – Real Estate Investment Trust

    REMIC – Real Estate Mortgage Investment Conduit

    RI – residual income

    RIC – Regulated Investment Company

    RM – raw materials

    RMA – Royal Monetary Authority of Bhutan

    RNS – Regulatory News Service

    RNS – Regulatory News Service (United Kingdom)

    ROA – return on assets

    ROB – Recognized Qualifying Body (United Kingdom)

    ROCE – return on capital employed

    ROCE – return on capital employed

    ROCE – return on capital employed

    ROE – return on equity

    ROE – return on equity

    ROI – return on investment

    ROI – return on investment

    ROL – reorder level

    ROR – rate of return

    ROS – return on sales

    ROSE – return on shareholder’s equity

    RPB – recognized professional body

    RPB – recognized professional body

    RPI – retail price index

    RPI – retail price index

     

    S

    S&D – selling and distribution

    SAC – Standards Advisory Council

    SAM – simple average method

    SAS – Statement of Accounting Standards

    SAYE – save as you earn

    SCARF – systems control and review file

    SEAQ – Stock Exchange Automated Quotations System

    SEBI – Security and Exchange Board of India

    SEC – Securities and Exchange Commission (United States)

    SEDAR – System for Electronic Document Analysis and Retrieval (Canada)

    SEEPAD – South Eastern European Partnership on Accountancy Development

    SEP – simplified employee pension

    SERPS – State Earning-Related Pension Scheme

    SFA – Securities and Futures Authority Ltd

    SFAC – Standards of Financial Accounting Concepts (United States)

    SFAS – Statement of Financial Accounting Standards (United States)

    SFC – Securities and Futures Commission (Taiwan)

    SFO – Serious Fraud Office

    SIA – Securities Industry Association

    SIAS – Statement on Internal Auditing Standards

    SIAT – Society of International Accounting Technicians (United Kingdom)

    SIB – Securities and Investment Board

    SIC – Standards Interpretations Committee

    SLM – straight line method

    SN – serial number

    SNB – Swiss National Bank

    SNIF – short-term note issuance facility

    SOC – service organization control

    SORP – statement of recommended practice

    SOX – Sarbanes Oxley Act 2002

    SPB – State Bank of Pakistan

    SPE – special purpose entities

    SPV – special purpose vehicles

    Sr – serial

    SRN – stores returns note

    SRN – stores returns note

    SRO – Self-Regulating Organisation

    SSAP – statement of standard accounting practice

    SSAP – Statement of Standards Accounting Practice (United Kingdom)

    SSP – statutory sick pay

    SVC – semi-variable cost

    SWOT – strengths, weaknesses, opportunities and threats

    SYS – single entry system

     

    T

    TA – tax avoidance

    TAR – throughput accounting ratio

    TATR – total assets turnover ratio

    T-bill – treasury bill

    T-bond – treasury bond

    TE – tax evasion

    Tech – technology

    TESSA – tax exempt special saving scheme

    TFOSS – Task Force on Standards Setting (Canada)

    TIN – Taxpayer Identification Number

    TL – tax liability

    TLF – transferable loan facility

    TOC – theory of constraints

    TV – terminal value

    TWDV – tax written down value

     

    U

    UAA – Uniform Accountancy Act

    UITF – Urgent issues Task Force

    UITF – Urgent Issues Task Force (United Kingdom)

    UNCTAD – United Nations Conference on Trade and Development

    USAID – U.S. Agency for International Development

    USM – unlisted securities market

     

    V

    VAT – value added tax

    VC – variable cost; venture capital

    VE – variable expenses

    VRN – variable-rate note

     

    W

    WAC – weighted-average cost

    WACC – weight average cost of capital

    WACM – weighted-average cost method

    WAM – weighted average method

    WC – working capital

    WDA – writing-down allowance

    WDV – written-down value

    WIP – work-in-progress; work-in-process

     

    Z

    ZBB – zero-base budget

    ZPG – zero population growth

     

    Digit

    24/7 – all time

    401 (k) – retirement plan in the USA

    52-weeks – of the past year

    420 – fraud and cheating

     

     

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