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)