26 terms starting with A
The ACCC is the Australian Competition and Consumer Commission, the national regulator that enforces competition and consumer law, covering misleading conduct, cartels, product safety and unfair contract terms.
Read definitionAccelerated depreciation is any depreciation method that front-loads deductions, so a business claims more of an asset's cost in the early years of its life and less later.
Read definitionAn acceleration clause is a term in a loan contract that lets the lender demand the whole outstanding balance immediately if the borrower breaches the agreement.
Read definitionAdministration is a formal insolvency procedure where an independent administrator takes temporary control of a company to rescue it or get creditors a better result than immediate liquidation.
Read definitionAffordability is whether a person or household can meet the cost of a good, service or loan repayment without giving up essentials or taking on debt they cannot sustain.
Read definitionAn agent is a person or business authorised to act on behalf of another party, the principal, in transactions and negotiations within an agreed scope of authority.
Read definitionAn aggregator is the organisation that sits between finance brokers and lenders, giving its broker network access to a lender panel, technology, compliance support and commission processing.
Read definitionAlternative finance is any business finance sourced outside traditional bank lending, such as marketplace lenders, crowdfunding platforms, invoice financiers and other specialist non-bank lenders.
Read definitionAmortisation is the process of spreading a cost over time: repaying a loan in scheduled instalments of interest and principal, or expensing an intangible asset over its useful life.
Read definitionAn amortisation schedule is a table showing every repayment on a loan, splitting each one into interest and principal so you can see the balance fall.
Read definitionThe annualised percentage rate (APR) is the annual interest rate a credit provider must disclose on regulated consumer credit under the National Credit Code, excluding fees.
Read definitionAnti-money laundering (AML) is the set of laws, controls and processes designed to stop criminals turning the proceeds of crime into apparently legitimate funds, enforced in Australia by AUSTRAC.
Read definitionAn appraisal is a professional estimate of an asset's value at a set date, which lenders and lessors use to set loan-to-value ratios, price leases and assess collateral risk.
Read definitionAPRA is the Australian Prudential Regulation Authority, the statutory regulator responsible for prudential regulation of banks, credit unions, insurers and superannuation funds, protecting depositors, policyholders and fund members.
Read definitionArrears are overdue repayments on a loan or credit account: the borrower has missed instalments, which the lender tracks by days past due and which can lead to a default.
Read definitionArtificial intelligence (AI) is technology that lets computer systems learn from data, recognise patterns and make decisions that would traditionally require human judgement, including credit decisions in lending.
Read definitionASIC is the Australian Securities and Investments Commission, the regulator for companies, markets, financial services and consumer credit, which licenses providers, keeps public registers and enforces conduct laws.
Read definitionAn asset is anything a business or person owns or controls that is expected to produce future economic benefit, such as cash, equipment, vehicles, property or receivables.
Read definitionAsset disposal is the sale, trade-in, scrapping or retirement of a business asset, which takes it off the asset register and triggers accounting and tax adjustments.
Read definitionAsset finance is the umbrella term for business finance that pays for vehicles, equipment and other income-producing assets, with the asset itself acting as the security.
Read definitionAn asset register is a structured record of the tangible and intangible assets a business owns, controls or leases, tracking each item's location, value, depreciation and disposal in one place.
Read definitionAsset-based finance (ABF) is business finance secured on a company's assets, with the facility size set by the value of the receivables, inventory, equipment or property pledged.
Read definitionAn assignment of contract is the transfer of one party's rights under a contract, such as the right to be paid, to a third party, without transferring the assignor's obligations.
Read definitionThe ATO is the Australian Taxation Office, the national tax authority that collects income tax, GST and PAYG, administers superannuation rules, issues rulings and enforces compliance.
Read definitionAUSTRAC is Australia's financial intelligence unit and anti-money laundering regulator: it collects reports from regulated businesses, analyses them and supervises reporting entities under the AML/CTF Act.
Read definitionAn Australian credit licence (ACL) is the authorisation from ASIC that a business needs to provide consumer credit or credit assistance under the National Consumer Credit Protection Act.
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