Glossary of terms and US equivalents

Term used in UK Annual Report US equivalent or definition


Accounts Financial statements


Associates Equity investees


Capital allowances Tax depreciation


Capital redemption reserve Other additional capital


Finance lease Capital lease


Financial year Fiscal year


Freehold Ownership with absolute rights in perpetuity


Interests in associates and joint ventures Securities of equity investees


Leaver costs Termination benefits


Loans to associates and joint ventures Indebtedness of equity investees not current


Own work capitalised Costs of labour engaged in the construction of plant and
  equipment for internal use


Provision for doubtful debts Allowance for bad and doubtful accounts receivable


Provisions Long-term liabilities other than debt and specific accounts payable


Statement of recognised income and expense Comprehensive income


Reserves Shareholders’ equity other than paid-up capital


Share premium account Additional paid-in capital or paid-in surplus (not distributable)