Alphabet Accounting Podcast

Mmm, a handful of M's in this episode. We start by asking what is meant by Margin and Markup , followed by unpicking Management Accounts . Afterwards, we explain Matching and clarify what is meant by Materiality .

For part 1 of Letter N, we are looking at all things Non-Current and explaining what is meant by Non-current Liabilities and Assets . Next, we explore the phrase Netting Off before a combined discussion on Negative Goodwill and Net Realisable Value (NRV).

In this episode, we will cover the basics of Nominal Value of Shares and why they are usually set to £1. Then we'll discuss Non-Executive Directors or NEDS and then finally Net Profit . 

Our first of three episodes on Letter O opens with, funnily enough, Opening Balance . Next, we look at what people mean when they talk about Overheads as well as related terms, Operating Costs and Operating Finances .  Then we ponder how you can look at your auditing without bias by introducing Objectivity .

In part 2 of O, we have 3 sections where we will chat about Off Balance Sheet Finance (which we'll link with Part 1 and Objectivity), followed by Obsolescence (a word with at least one obsolescent letter in it), concluding with what happens with Overtrading .

We round off Letter O by looking at 3 more O phrases: Onerous Contract , Other Comprehensive Income , and Operating and Financial Review.  

In this first episode on Letter P, we'll start by explaining what Petty Cash is. Then we will give some examples of when you might want to use a Prepayment . We'll finish the episode by exploring Payables and Preference Shares .

In the next episode, we are going to be finding out about Provisions and Present Value . We'll explain a term that comes under two slightly different names: Prior period error / Prior year adjustment . And to conclude, we are looking at Post Balance Sheet Events. 

In part 3, we unpick a few things together with Proforma/PBIT/PBAT. We then look at our first ratio with P.E Ratio (more on those later). Then we grapple with exploring what a Parent Company is, before finishing on Policies .

We are looking at four Q terms in this episode. We will talk about Quick ratio before a longer general chat on ratios in R. After that, we will explore Qualified opinion , Quoted price and lastly Qualitative characteristics . 

Without sounding like a pirate, here we are at R. There's a smattering of them, including in this episode: Research , Right of use asset , Recoverable amounts and Retained earnings .

For part 2 of letter R, we look at probably one of the most fundamental words in accounting, Revenue . We also take a quick look at 3 more Rs, which are Reconciliation , Related parties and Ratios .

We start Letter S by reviewing the accounting terms Sales and Sale Returns , Security , and Segment reporting , and their meanings in a business context.

In the next part of letter S, we explore more terms, including the difference between Subsidiary and Significant Influence and how they are accounted for in financial statements. Then we discuss the importance and meaning of the terms Shareholder/Stakeholder/Sole Trader,  as well as the different voting rights and control they bring. Lastly, we turn to the markets and clarify Share Price , as well...

There are a few Ts to get through, starting off with T-Account and Trial Balance . Then we look at a key term, Turnover and link it to Tax Expense . We move on to another form of asset, in the guise of Tangible Assets, as well as discussing Trade Debtor and Credit . We finish this episode by discussing True and Fair , as well as Trust .

There are not many Us and Vs, but there are some. We start off with a lightning round on a bunch of U terms and words: Unaudited Financial Statements , Unmodified/unqualified opinion, and lastly UEL (Useful Estimated/Expected Life). Then we have a slightly lengthier chat on three Vs:  Value in Use , Volume Discount and Value in Costs . 

Woah! Time to cover some big Ws, kicking off with WIP (Work in Progress). We then look at Weighted Average , Wear and Tear , and Write Down . We then get a bit superficial and reveal what is meant by Window Dressing. Our last two Ws we will discuss are Written Presentations and Working Capital .

Unsurprisingly, we haven't got many for the final trio of the alphabet. But we have some, including a fun discussion to tie everything we've covered together. We start with Xero (pronounced with a Z, but spelt with an X), then XBRL (which starts with an E),  and then lastly the classic X word, Xylophone . We then have a pair of Y words with Year End and Yield . And our final words to fin...