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ABACUS

An ancient device for performing arithmetic calculations by sliding beads along rods or in grooves. Despite the spread of electronic calculators and computers, the abacus is still widely used in the Far East.

 

ABB (Activity-Based Budgeting)

Establishing the activities that incur costs in each function of an organisation, defining the relationships between activities, and using the information to decide how much resource should be allowed for each activity in the budget. ABB also attempts to determine how well a particular section of the budget is being managed and to explain any variances from budgeted expenditure.

 

ABBREVIATED ACCOUNTS

A shorter form of annual accounts that may be filled with the Registrar of Companies by a company qualifying as a small or medium-sized company under the UK Company Act (1985: amended 2004). The use of abbreviated accounts can cut costs and save time. It can also minimize the information made available to others, especially business rivals.

to be continued…..

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