See
Minority Interest.

See Overheads.

This is a type of share issued by a limited company.
It carries the highest risk but usually attracts the highest rewards.
Most ordinary shares carry voting rights.

The place where a sale of goods takes place, e.g. a shop counter.
Most cash registers have computerised POS Systems.

Liabilities set up to account for expected future payments (e.g. where a business is expecting a bill, but hasn’t yet received it).
Provisions are usually estimated and they can be currentor non current.
One of the most common forms of provisions are those for annual leave not taken and also long service leave.

A subsidiary ledger which holds the accounts of a business’s suppliers.
A single control account is held in the nominal ledger which shows the total balance of all the accounts in the purchase ledger.

In accounting terms this is usually a profit figure.

A Superannuation is an organisational pension program created by a company for the benefit of its employees.
It is also referred to as a company pension plan.
Funds deposited in a superannuation account will grow, typically without any tax implications, until retirement or withdrawal.

A temporary account used to force a trial balance to balance if there is only a small discrepancy (or if an account’s balance is simply wrong, and you don’t know why).
A typical example would be a small error in petty cash.
In this case a transfer would be made to a suspense account to balance the cash account.
Once the person knows what happened to the money, a transfer entry will be made in the journal to credit or debit the suspense account back to zero and debit or credit the correct account.