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Glossary of terms used on this site

There are 73 entries in this glossary.
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Term Definition

Involves two or more co-owners participating together in a business. This is regardless of how business equity is owned - Trust, company, or by sole trader. It also requires an intention to make and share profits and an understanding that these co-owners act on behalf of each other in business. May also describe a trading identity formed by natural persons.

Personal information

Information or an opinion (including information or an opinion forming part of a database), whether true or not, and whether recorded in a material form or not, about an individual whose identity is apparent, or can reasonably be ascertained from the information or opinion.

Plant and equipment

Assets of a business and include tools, machinery, office fittings used in the operation of the business.

Privacy and information management

How best to collect, store, use and disclose customer information. To ensure compliance with privacy legislation, have policies, procedures and systems in place, effective staff training and regular monitoring compliance performance.


Total revenue less total expenses for a period of time.

Proprietary Limited Company (Pty Ltd)

Must be registered under the national Corporations Law, administered by the Australian Securities and Investments Commission (ASIC), a Commonwealth Government agency.

Public listing

Refers to having the shares of the company listed on the stock exchange.

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Julie Says

We are in a syndicate raised by us to purchase a commercial winery. Our accountant was concerned about potential withdrawal of capital and the effect this would have on our bank and remaining backers. Jim was asked to come in, sort it out and get written agreement from all parties as to the movement of capital. He delivered everything we needed and more. Every syndicate member was relaxed and so were our bankers. The legal side was set up by a solicitor of Jims suggestion and it was the simplest set of actions for us all to achieve security of investment.