Acronym Buster
Below are a range of acronyms to help you keep abreast of the industry jargon:
ABN
Australian Business Number. An 11-digit entity identifier introduced on 1st July 2000 with the introduction of the GST. It is often the ACN preceded by 2 additional digits.
XBRL
eXtensible Business Reporting Language.
ACN
Australian Company Number. An 8 and more commonly 9-digit company identifier.
ACNC
Australian Charities & Not-For-Profits Commission.
ASIC
Australian Securities & Investment Commission.
ATO
Australian Taxation Office.
BAS
Business Activity Statement.
DGR
Deductible Gift Recipient.
FBT
Fringe Benefits Tax. This is reportable annually for some businesses and operates on a 31 March year-end cycle.
GST
Goods & Services Tax.
KPA
Key Performance Area.
KPI
Key Performance Indicator.
NSCOA
National Standard Chart of Accounts.
PAYG
Pay As You Go.
PESTLE
Political – Economic – Social – Technological – Legal – Environmental.
PSI
Personal Services Income.
SMART Objectives
Specific – Measurable – Achievable – Realistic – Timeframed.
SWOT Analysis
Strengths – Weaknesses – Opportunities – Threats.
VCFO
Virtual CFO (Chief Financial Officer).
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