Small Business Accounting Glossary
Definitions and explanations for Australian businesses
This glossary provides clear, practical definitions of key terms in small business accounting in an Australian business context. Each term is explained in plain language with relevant regulatory references. Bookmark this page as a reference.
A-Z Definitions
Comprehensive glossary covering 18+ terms. Each definition is written for Australian business owners, focusing on practical application. Key terms include: Accounts payable, BAS, Cash flow, Depreciation, Equity, Fixed asset, GST, Income statement, Journal entry, KPI, Liability, Margin, Net profit, Operating expenses, P&L, Revenue, Trial balance, Working capital
Each entry provides: a plain-language definition, the regulatory or legislative source where applicable, a practical example, and cross-references to related terms.
Beyond Definitions
Understanding the terminology is the first step. Valont handles the implementation — correct payroll, compliant BAS, and secure IT managed by specialists.
Book a Discovery Conversation