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The A to Z Glossary of Credit Keywords

There are 166 entries in this glossary.
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O

Term Definition
Official Receiver

The official receiver is an officer of the court and Civil Servant employed by the insolvency service to manage bankruptcies and compulsory company liquidations. The term 'Official Receiver' should never be confused with the administrative receiver appointed by debenture holders etc.

Operating income (Loss)

Gross profit or loss less selling/administrative expenses, payroll, depreciation/amortisation, etc.

Operating statement

A business financial statement that lists revenues, expenses, and net income throughout a given period. Because of the various methods used to record transactions, the monetary values shown on an income statement often can be misleading. Also known as profit and loss statement, earnings report, earnings statement or income statement.

Ordinary shares

These generally carry no fixed rate of dividend, unless they are deferred ordinary shares. They may receive a dividend, in accordance with the amount of net profit made by the company (or deriving from previous years' profits retained in the business) but these days many private companies do not pay dividends, retaining all the profits for the business.

Other current assets

Includes Bills of Exchange, bank certificates, taxation, recoverable.

Other current liabilities

Including hire purchase agreements, proposed dividends, sundry deposits, social security payments, National Insurance payments etc.

Other income

Income other than that from the sale of goods or services e.g. investments.

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