BT 2000 Annual Report Download - page 126

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Term used in UK annual report US equivalent or de®nition
Accounts Financial statements
Advance corporation tax (ACT) No direct US equivalent. Tax payable on cash dividends treated as
advance payments on the company's UK income tax due
Associates 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
Employee share schemes Employee stock bene¢t plans
Employment costs Payroll costs
Finance lease Capital lease
Financial year Fiscal year
Fixed asset investments Non-current investments
Freehold Ownership with absolute rights in perpetuity
Inland calls Local and long-distance calls
Interests in associates and joint ventures Securities of equity investees
Loans to associates and joint ventures Indebtedness of equity investees not current
Net asset value Book value
Operating pro¢t Net operating income
Other debtors Other current assets
Own work capitalised Costs of group's employees engaged in the construction of plant and
equipment for internal use
Pro¢t Income
Pro¢t and loss account (statement) Income statement
Pro¢t and loss account
(under ``capital and reserves'' in balance sheet) Retained earnings
Pro¢t for the ¢nancial year Net income
Pro¢t on sale of ¢xed assets Gain on disposal of non-current assets
Provision for doubtful debts Allowance for bad and doubtful accounts receivable
Provisions Long-term liabilities other than debt and speci¢c accounts payable
Recognised gains and losses (statement) Comprehensive income
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 ¢xed assets Property, plant and equipment
Trade debtors Accounts receivable (net)
Turnover Revenues
Glossary of terms and US equivalents
Annual report and Form 20-F 125