BT 1998 Annual Report Download - page 87

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Please find page 87 of the 1998 BT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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Term used in UK report and accounts US equivalent or definition
Accounts Financial statements
Advance corporation tax (ACT) No direct US equivalent. Tax payable on company distributions
recoverable from UK taxes due on income
Associated undertakings Equity investees
Capital allowances Tax depreciation
Capital redemption reserve Other additional capital
Creditors Accounts payable and accrued liabilities
Creditors: amounts falling due within one year Current liabilities
Creditors: amounts falling due after more than one year Long-term liabilities
Debtors: amounts falling due after more than one year Other non-current assets
Employment costs Payroll costs
Finance lease Capital lease
Fixed asset investments Non-current investments
Freehold Ownership with absolute rights in perpetuity
Inland calls Local and long-distance calls
Interests in associated undertakings Securities of equity investees
Loans to associated undertakings Indebtedness of equity investees not current
Net asset value Book value
Other debtors Other current assets
Own work capitalised Costs of group’s employees engaged in the construction
of plant and equipment for own use
Profit Income
Profit and loss account (statement) Income statement
Profit and loss account
(under ‘capital and reserves’ in balance sheet) Retained earnings
Profit for financial year Net income
Profit on sale of fixed assets Gain on disposal of non-cur rent assets
Provision for doubtful debts Allowance for uncollectable receivables
Provisions Long-term liabilities other than debt and specific
accounts payable
Redundancy charges Early release scheme expenses
Reserves Shareholders’ equity other than paid-up capital
Share premium account Additional paid-in capital or paid-in surplus (not distributable)
Shareholders’ funds Shareholders’ equity
Stocks Inventories
Tangible fixed assets Property, plant and equipment
Trade debtors Accounts receivable (net)
Turnover Revenues
Glossary