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Glossary

Access Provider
A business that provides connectivity to the Internet.
Accountant

One who is skilled at keeping business records.
Accounting Period

The period of time for which a financial statement is produced.
Accounts Payable

Money owed by a business to its suppliers and other creditors, accounts to be paid, usually has a due date. Also referred to as a current liability.
Accounts Receivable

Money owed to a business by clients or customers. Also referred to as a current asset.
Accrual Accounting or Reporting

One of two methods of bookkeeping where income and expenses are recorded in the period when they occurred, regardless of when actually received or paid. This method includes changes to inventory, accounts receivable and accounts payable. (See also Cash Accounting or Reporting)
Accrued Expenses

Expenses incurred but not paid.
Advertising

Techniques and activities involved in conveying information about a product or service to persuade people to buy.
Agent

A person authorized to act for another person – a principal – in dealing with a third party.
Amortization

The systematic reduction of an account balance by means of regular payments sufficient to meet current interest and to be paid out by maturity, most often used for long-term liability; i.e., a mortgage.
Angel

Private individuals with money to invest in business ventures.
Annual Report

A report made at the end of the fiscal year that presents financial transactions of the past year and their results.
Application Service Provider

Hosting services that will operate, support, manage and maintain your application for a fee.
Appreciate

To increase in value.
Arbitration

The resolution of a dispute between two parties by an impartial third party.
Arrears

Payments that are overdue.
Assessment

The setting of value of land, buildings and other assets for tax purposes.
Assets

Items of value owned by a business; e.g., cash and cash equivalents, receivables, equipment, land, inventory (stock). (See also Capital or Fixed Assets, Current Assets, Tangible Assets, Intangible Assets, Liquid Assets, and Long-term Assets)
Asymmetrical Digital Subscriber Line (ADSL)

Provides high-bandwidth connections to the Internet using regular phone lines.
Audit

Verification of financial records and accounting procedures generally conducted by an accountant.
Authentication

The process which verifies the identity of a user logging onto a network.
Bad Debts

Money owed that cannot be collected.
Bait and Switch

An illegal selling technique, where a special is advertised, but is sold out when the customer arrives. The customer is expected to purchase something else.
Balance Sheet

A financial report showing the status of assets, liabilities and owner's equity of the business on the last day of the reporting period. Assets should equal Liabilities and the Owner's Equity.
Balloon Payment

A lump sum paid on a loan. For example, some loans require interest-only payments for a term, followed by a lump sum paid on the principle.
Bandwidth

Describes the amount of data that can travel through the Internet or communications network in a specific period of time, usually measured in seconds.
Bank Rate

Rate of interest charged by the Bank of Canada to chartered banks and financial institutions. (Also Prime Rate)
Bankruptcy

Financial and legal position of a person or corporation unable to pay debts.
Basis for Competing

A differential advantage and any strengths held over competitors.
Beginning Statement of Assets, Liabilities and Owner’s Equity

A statement that documents the assets, the liabilities and the owner’s equity at the beginning of the planning period.
Benefit Segmentation

The division of a market according to the benefits consumers want from the product.
Berg, Iceberg

The many layers of complexity that live beneath a perceived problem or task.
Bindery

How the pages in a document are held together.
Bleed

Graphic accent that extends beyond the normal margins of a page to the edge. Bleeds increase costs but can be an extremely powerful design tool.
Bleed

Graphic accent that extends beyond the normal margins of a page to the edge. Bleeds increase costs but can be an extremely powerful design tool.
Body Copy

The text portion of a brochure, advertisement or other document.
Bond

A superior grade of strong white paper
Bond

A third-party obligation to pay if the borrower fails to fulfill obligations under a contract. Types of bonds include License, Performance, Bid, Indemnity and Payment.
Bookmark

Provides the user with the ability to make their favourite pages and web sites for quick retrieval.
Brainstorming

An approach to problem solving or discussion that consists of gathering ideas without setting limits or boundaries - all ideas are valid.
Branding

A marketing method involving creating a name, symbol or design that identifies or differentiates a product or service from others.
Break-even Analysis

Method used to determine the point when the business would neither make a profit nor incur a loss.
Break-even Point

The point when sales equal total costs, expressed as either the total revenue exactly offset by total expenses; or as total production costs which exactly equals the income derived by their sale.
Bricks and Mortar

Physical buildings and assets as in a "facility"; usually the fixed assets of a business as opposed to the systems and intangible properties.
Browser

Software applications, such as Netscape Communicator, Mozilla or Microsoft Internet Explorer, which interpret HTML and web documents.
BTW

By the way (cyber)
Budgeting

Basic tool of financial planning that shows revenues vs. expenses that are planned for the coming period.
Bullet

A symbol used at the beginning of a list. The text is indented and there is one bullet for each different point in the list.
Bulletin Board System (BBS)

Allows users to read, comment and electronically post new messages to an interest group on the Internet.
Business

Production of goods or services for profit.
Business Concept

A basic idea around which a business is built. Also the part of a business plan which describes or explains a business.
Business Expense

Cost of producing and selling a product, which can be deducted from gross income to arrive at net income for taxation purposes.
Business Plan

A written summary of the business; including strengths, weaknesses, needs and plans; to provide focus and direction to achieve goals.
Business to Business (B2B)

The marketing, sale and support of goods and services to businesses on the Internet.
Business to Consumer (B2C)

The marketing, sale and support of goods and services to consumers on the Internet.
Camera Ready

A document that is ready to print as-is.
Capital

Total assets owned or used in a business.
Capital Assets or Fixed Assets

Assets that represent long-term investments, usually involved in the production of goods and services. These assets are not readily convertible into cash; i.e., land, buildings and equipment.
Capital Costs

Costs involved in the acquisition of fixed assets.
Capital Equipment

Equipment used in the business and is not intended to be sold for profit.
Capital Gain

Used for income tax purposes, the profit obtained when an asset is disposed of for more than the original cost.
Capital Lease

A lease that transfers all risks and benefits of ownership of the asset to the lessee (user); e.g., vehicle lease. This type of lease is usually longer than a year and may provide for transfer of ownership at the end of the term.
Capital Loss

The loss which occurs when a long-term asset is disposed of for less than its original cost.
Capital Requirement

The amount of money needed to get a business established.
Capital Sales and Purchases, Planned

Summary statement of planned purchases and sales, showing trade-in value, purchase price, cash down and financing. Details include amount of financing, interest rate, payment frequency, amount of annual payment, principal and interest.
Capital Stock

The money invested in a business by stockholders who purchase part of the owner’s equity in the form of shares.
Caption

A title, heading, subheading or explanation accompanying a picture.
Cash Accounting or Reporting

One of two methods of bookkeeping where income and expenses are recorded only when payment is received or paid, regardless of when the agreement to sell or purchase occurred. Considered the simplest method and does not include changes to inventory, accounts receivable nor accounts payable. (See also Accrual Accounting or Reporting)
Cash Conversion Cycle

The amount of time it takes to convert your cash outlays to income.
Cash Discount

Incentive provided by vendors of merchandise and services to speed up collection of accounts receivable.
Cash Flow

The cash receipts or disbursements that the business has. Receipts are from customers, loans and grants received, owner investments, etc. Disbursements include payments to suppliers, employees, loan repayments, finance expenses, and dividends paid to owners, etc.
Cash Flow Forecast, Projection or Statement

A summary, usually monthly projections, showing revenue or sales, how much and when, and expenses that will occur within the same time frame as the revenue or sales. Some expenses occur monthly even when there may be no revenue; the cash flow statement identifies cash needed to meet projected monthly expenses. Cash Poor Situation where a profitable business runs out of cash, usually because it is growing at a rate that cannot be supported by profit alone.
Casualty Insurance

Insurance other than accident and life insurance; i.e., fire, theft, general liability.
Caveat Emptor

A caution, warning. “Let the Buyer Beware”
CD-ROM

Consumer Device, Rendered Obsolete in Months
Certified Cheque

Cheque bearing a guarantee from the signer's bank that funds have been reserved to cover it.
Change in Inventory

On the Income Statement, describes the adjustment to inventory of goods. This adjustment is eventually reflected on the Balance Sheet showing either increase or decrease from one reporting period to another.
Chat

Systems that enable users to of networks and the Internet to communicate in real time.
Clip Art

Computer graphics that can be inserted into documents.
Cluster

A small group of businesses with similarities or characteristics that make them distinct from the larger industry.
CMYK

A colour mode made up of cyan (C), magenta (M), yellow (Y), and black (K). In the CMYK colour mode, colour values are expressed as percentages, so a value of 100 for an ink means that it is applied at full saturation. CMYK is used in most full-colour commercial printing.
Cold Sales Calls

Direct contact of a potential customer by a salesperson without lead or established previous contact.
Collateral

Assets that can be sold for cash and which can be used to secure or guarantee a loan. Colour Key Proof A proof of a document printed in true colour. It will look exactly like the documents that will come off the printing press.
Colour Laser Proof

A proof of a document printed in colour on a laser printer from a print shop to check accuracy. It is not a true colour proof (the colours will not be the same as when it is printed on the printing press).
Colour Separation

The process by which an image is separated into two or more plates for printing - one for each colour.
Colour Wheel

A graphic consisting of twelve colour segments (along with their tints and shades) arranged in an orderly progression allowing the user to visualize the sequence of colour balance and harmony.
Commissions

Payments to salespeople, distributors and agents for sales generated, usually calculated as a percentage of the sales volume.
Committee

A body that keeps minutes and wastes hours.
Company-owned Unit

An outlet owned and operated by a parent company.
Competition

A market in which rival sellers are trying to gain extra business at another's expense and thus are forced both to be as efficient as possible and to hold prices down.
Competitive Advantage

Factors that make your product, service or business more desirable to the purchaser over other offerings (lower price, easier to use, higher quality, more durable, etc.).
Complimentary Colours

A colour scheme using colours directly opposite on the colour wheel.
Compound Interest

Interest earned or previously accumulated interest plus the original principal.
Confidentiality

Keeping ideas or inventions private to ensure no copying occurs.
Confidentiality Agreement

A written promise not to disclose information about ideas or inventions.
Concentration Strategy

A process by which a business directs its marketing effort towards a single market segment through one marketing mix.
Consignment

Sale of goods through a third party whereby ownership of the goods remains in the name of the supplier until the goods have been sold, at which time the seller is indebted to the supplier.
Consortium

A group of companies involved in a joint venture to the benefit of all.
Consumer Market

Purchasers or individuals in their households who personally consume or benefit from the purchased products and do not buy products primarily to make a profit.
Content

Actual material, graphics, text and other multi-media that make up a website.
Contingent Liability

Potential liability; e.g., loan guarantee; that is subject to the results of a future event (i.e., failure of the borrower to repay the debt).
Contract

A formal agreement between two or more to do or to deliver something. Contracts can be complex and should always be reviewed by an attorney. A contract may not be binding if not correctly drafted and executed. Contrast The usage of varied colours, shapes, etc. to heighten the effect of a composition.
Contribution Margin

Direct income minus directly related variable expenses. The difference between income from sale of a product and the direct costs of producing that product. The contribution margin is then applied to the indirect costs of running the business.
Cookie

A text file that gathers and stores your personal preference information during the time you visit a website.
Co-op Promotion

Arrangements between two or more businesses to cross promote their products or services to customers.
Copyright

Protection of creative works from theft or copying; includes writing, music, videos and computer software.
Corporate Identity

The consistent image created by a business' print communications by using consistent and limited number of typefaces, type sizes, colours and logos. These elements typically appear in the same position at the same size on each type of document.
Corporate Tax

The tax owed by the company according to the tax regulations and its net profit before tax.
Corporation

A business organization that may have many owners, each liable only for the amount of his investment in the business.
Cost

The amount paid for goods and services used to run the business. See also Fixed Cost and Variable Cost.
Cost of Goods Sold (COGS)

The cost of production or purchases of all products and services that are sold in the reporting period. Calculated either by multiplying the cost of each product or service by the quantity sold or by calculating the open inventory plus purchases during the period less the closing inventory.
Cover Stock

Super heavyweight paper available in a variety of colours.
CPM

Cost per thousand.
Credit Report

A listing of an individual or business financial history of repaying past loans and other liabilities.
Creditor

One to whom money is owed.
Crop Marks

Marks that indicate how the image area should be placed on the printed page.
Current Assets

Assets which are readily convertible into cash without substantial loss; i.e., cash, investments, receivables, prepaid expenses, and inventory.
Current Debt

Any debt or partial debt that is due to be paid within the current business year or operating cycle.
Current Liabilities

Financial obligations that will be paid out of business earnings within a year or within the normal operating cycle. They include accounts payable, bank overdrafts and short-term loans, etc.
Current Ratio

The ratio of current assets to current liabilities, indicating the ability to pay (the short-range liquidity and stability of the business).
Customer Profile

A description of the key characteristics of the people who buy your products and services.
Customs Invoice

Prepared by the exporter or forwarder, this is a copy of the seller's commercial invoice, describing the goods bought.
Cyan

Blue ink.
Cyberspace

Describes where people interact, communicate and exchange information using the Internet.
Dealer

A person or business that markets a product within a defined area.
Debit

Entry on the left side of a balance sheet, indicating an asset or prepaid expense.
Debt

Money that must be paid back to someone else, usually with interest.
Debt Capital, Debt Capital Financing, Debt Financing

Loan, usually long-term, used to establish, to expand or to run a business.
Debt-to-Equity Ratio

The ratio of long-term debt to owner's equity. Measures overall profitability.
Debt-to-Worth Ratio

The ratio of total liabilities to net worth of a business.
Deferred Income Taxes

A Revenue Canada provision whereby a portion of income taxes due may be deferred. Consult your accountant.
Defrag

To reorganize (a computer file, a business process) to eliminate fragmentation.
Demand

The combined desire, ability, and willingness on the part of the consumer to buy goods or service. Demand is determined by income and by price, which is, in part, determined by supply.
Demand Loan

A debt for which the lender may demand payment-in-full at any time upon notification to the borrower under the terms of the contract.
Demographics

Statistics based on population-related factors
Depreciation

The reduction in value of a fixed asset through use, obsolescence, inadequacy, or other physical or functional cause. The periodic amount allows the cost to be distributed over its useful life and is a tax-deductible expense.
Descriptor

Variables used to profile or build a fuller picture of target segments.
Dial-Up Networking

Allows a computer to dial into its server and connect to the Internet.
Die Cut

An acid-based solution is applied to the page for easy removal of a portion of it.
Differential Advantage

An attribute of a product or a business that is not currently matched by rival companies or products and which is highly desired by the target market's customers.
Distribution Channel

A method of providing goods or services to customers, such as on-line malls, portals, retail outlets or distributors.
Distributor

The agent or business that provides goods to retail dealers or companies; i.e., middle person, wholesaler.
Dividends

The proportion of net earnings declared by a corporation for distribution to shareholders in proportion to quantity of shares owned.
Domain Name

A unique name that is used to identify a website, such as macrolink.bc.ca.
Domino Effect, Ripple Effect

Any action or series of actions that occur as a result of another action.
Downrules

Vertical rules added between columns to prevent readers from reading across the space between columns.
Drop Cap

The first letter of the first word cut into the paragraph it introduces - usually dropping down three lines in height. It may be the same font or it may be a fancier font for a more dramatic effect.
Drop Shipment

Shipped directly from the manufacturer to the consumer.
Due Diligence

Actions investors should do to confirm the value of an investment.
Dust

Mud with the juice squeezed out.
EBIT

Earnings before interest and taxes.
EBITDA

Earnings before interest, taxes, depreciation and amortization.
E-Business

Doing business on the Internet.
Electronic Commerce


Selling products and services via the Internet. Commonly referred to e-commerce.


Electronic Data Interchange or EDI

When manufacturers and retailers link their computer to each other for the purpose of ordering and inventory processing.
Electronic Mail; Email

Service allowing a computer user to send and receive written messages through electronic communications.
Email

Electronic mail sent to the recipient’s mailbox via the Internet.
Employed Capital

The capital that is required to run the business in the long range including the total liabilities and equity of the business less the short-term liabilities.
Employee Stock Ownership Plan - ESOP

A plan where employees have vested interest in the company; stock ownership.
Employment Standards

The provincial or federal labour laws which establish minimum wages, hours, overtime pay, parental leave, paid vacation, etc.
Ending Statement of Assets, Liabilities and Owner’s Equity

A statement that documents the assets, the liabilities and the owner’s equity at the end of the planning period.
Entrepreneur

One who will work 14-hour days at $5 per hour to avoid a regular job paying $20 per hour. One who assumes the risk and responsibility for initiating, organizing and operating a business venture.
Equity

The difference between the assets and liabilities of a company. Often referred to as net worth.
Equity Capital

The owner’s portion of the assets of a business, calculated as the difference between the value of the assets and the amount of liabilities. Equity Financing Money invested in a business in return for part ownership; shares.
Escrow

Temporary monetary deposit with an independent third party by agreement between two parties and held until agreed conditions have been met.
E-tailing

Selling retail goods online.
Excise Tax

A tax on specific goods or service, such as alcohol or tobacco.
Executive Summary

A summary of a business plan, usually the first part read by the reader.
Expense

Any identifiable cost relating to a business operation during a given financial period.
Extensible Markup Language (XML)

A language for the web, more powerful than HTML.
Extranet

Private wide area networks that run on public protocols for the purpose of sharing information between organizations.
E-zine

Newsletters or magazines published electronically or online.
Factoring

The buying and selling of a company's invoices or accounts receivables at less than full paper value. The purchasing firm is called a factor, and makes its profits by collecting at full value.
Failure

Going out of business because the business cannot be run at a profit. Not always equivalent to bankruptcy.
Fair Market Value

Price a commodity can command on a free market.
Feasibility Study

The study of a project to see if it is technically possible and commercially profitable.
Fiduciary

A person or company entrusted with assets owned by another party and responsible for investing the assets until they are turned over to the owner (beneficiary).
File Server

A computer that stores and makes available data and programs to other computer on a network.
File Transfer Protocol (FTP)

A protocol used on the Internet to transfer many different types of information in the form of files and data.
Fill

Adding colour to a graphic or document.
Finance Expenses / Income

Finance expenses include interest payments to banks and other financial organizations for the capital and loans provided to the business, and commissions paid to banks for operations, credit lines, etc. Finance income includes income that the company earns from funds loaned to other businesses and organizations or from deposits and stocks the company holds.
Finances

Money.
Financial Accounting

Formalized accounting methods, within “generally established accounting principles”, which are used to establish the financial position of a business within a given period of time.
Financial Leverage

The ratio of equity to external liabilities, which indicates the business's long-range stability and its ability to raise external financing.
Financial Statements

Documents that show your financial situation. Two major statements are needed to cover the information necessary to run a business and get financing.
Financing

Obtaining money resources.
Firecracker

Identifies a personality type or an approach to life and problem solving. One who creates idea explosions by connecting seemingly unrelated thoughts and activities with no visible focus or boundary.
Firewall

A software – hardware combination that separates and internal local area network from the external Intranet for security purposes.
First Refusal

The right of a party to have the first option to buy shares or property, usually has a specific time period attached to it.
Fiscal Year

The 12-month period used by a business to prepare financial statements.
Fixed Assets

Assets that may be realized in the long term; e.g., plant, equipment, land, and investments in subsidiaries.
Fixed Costs or Expenses

Costs that remain relatively unchanged regardless of volume of production or sales.
Flip

Shuffling information as one would a deck of cards. This can be very positive for thinking outside the box, but tends to be confusing, frustrating and costly when applied to budgets.
Foldout

An over-sized document that has a section that folds out for added information.
Font

A letter, number, punctuation mark or character used in printing. All fonts are a variation of three basic types: serif, sans serif and script. E.g. Courier, Times New Roman, Arial
Footer

Text and graphic elements automatically repeated at the bottom of each page.
Foreclose

Sale of a property when the owner fails to meet mortgage, tax, or other debt payment on it. Must be approved by the courts.
Four Colour Process

Four separate plates are made (one of each of the CMYK colours) to print a full-colour document
Franchise

A form of business licensing requiring a franchise fee, a common trade name and a continuous relationship with a parent company.
Free Along Side - FAS

Price of goods to delivery on the docks during loading. The buyer becomes responsible for the goods once they are on the docks alongside the ship.
Free on Board - FOB

Price of goods on board a vessel at a port of shipment. From this point all transportation, insurance, and other charges are payable by the customer.
Free-forming

The spontaneous discussion of ideas by spring-boarding or pinging off each other's ideas and comments without boundaries or limitations.
Frequently Asked Questions (FAQ)

A list of regularly asked questions placed where a user, visitor or customer can easily review them.
Friendly Market

A market that wants your products and services and attracts rather than repels.
FWIW

For what it's worth (cyber)
FYI

For your information
Gain

An increase in equity which does not result from income or a direct contribution to equity; i.e., an item is sold for more than its “book value”.
Gateway

A software or hardware component that links two otherwise incompatible applications or networks.
Gator

A particularly malicious and dangerous berg with teeth, recognisable only by a beady eyeball above the surface and which can swallow you whole if you get too close.
General & Administration Expenses (G&A)

Operational expenses of the business, which include salaries of management and administration, rent and office expenses, telephone, post, electricity and water, legal expenses, accountants and bookkeepers, consultants, etc.
Glue

Ongoing royalties or any form of rent-seeking, sometimes visible and agreed to and other times unsolicited, less obvious and extracted by force as with post-contract administration that accompanies government contracts.
Goal

A short-term detailed target with a clear, measurable deadline.
Going Concern

The idea that a company will continue to operate indefinitely, and will not go out of business and liquidate its assets. The value of the assets is assessed differently from the current market value.
Good Faith

Unspoken attitude of honesty and serious intention between two or more parties.
Goodwill

An intangible asset generated through high community standing, strategic location, superior management, etc. The financial value, once established is added to the fair market value of a business based on the tangible assets.
Gopher

A navigational tool that finds resources and information on the Internet by using a multi-level menu system.
Grace Period

Time allowed to a debtor before legal action is taken by a creditor to collect late payments.
Gradient

Background fill characterized by a smooth transition from one colour to another.
Grant

Money provided by a government or public fund for a specific purpose. Repayment is usually not required, provided that the rules and conditions of the grant are followed.
Grid

A series of non-printing horizontal and vertical rules used to align page elements.
Gross

Total amount before deductions.
Gross Margin or Gross Profit or Gross Profit Margin

Income less the cost of goods sold. Reflects profit before operating expenses, finance expenses, tax and other expenses.
Guarantee

A written commitment by an individual or authorized legal entity to pay back a loan if the borrower is unable to do so.
Guaranteed or Insured Loan

Program whereby the federal government will indemnify a lender against part or all of any defaults by those responsible for repayment of the loan.
Guarantor

Person or company that guarantees to pay the financial obligations of a business or contract.
Gutter

Horizontal space between columns and between the right margin of a left page and the left margin of the right page.
Hacking

Using one's skill in computer programming to gain illegal or unauthorized access to a file or network.
Hardware

Computer machinery.
Header

Text and graphic elements automatically repeated at the top of each page.
Heterogeneous Market

A market in which all customers have different requirements.
Hijacking

Hacking into a domain name database and making the necessary changes to effectively "steal" the domain name from the owner.
Historical Cost

Total expenditures made by a business to gain title or to develop and incorporate an asset into service.
Home Page

The first page a user sees after entering a URL for a website.
Homogeneous Market

To define an entire market as the target market for a particular product or service, usually including a single market mix for the entire market.
Hyperlink

An electronic link that can be programmed so that it is possible to make a jump from one document or web page to another.
Hypertext Markup Language (HTML)

The language used to create a webpage.
Hypertext Transfer Protocol (HTTP)

A protocol used to transfer information within the World Wide Web.
Hypothecate

To pledge a security without transferring title to the creditor.
Icon

Graphic element used in place of something else, typically words or commands.
Identity Statement

A simple, factual description of an organization, usually including basic information such as the businesses name, the form or structure, where it’s located, when it started, the nature and scope of the business and what industry it is a part of. Impressions The number of times part of a page has been viewed by an individual browser.
Income

Money or revenue earned or received by a business.
Income Statement

Summary of income earned from the sale of goods and services, including expenses incurred to earn the income for a given period.
Income/Receipts

Cash income received by the business from customers, combined with receivables in a given period.
Indemnity

Insurance against or compensation for loss or damage.
Industrial Design Protection

Protection against copy of the shape and appearance of an invention.
Industry Ratios

Financial ratios established by comparing many businesses in an industry, generally accepted as a norm against which businesses can be measured.
Inflation

Cutting money in half without damaging the paper.
Initial Cap

Oversize letter used to introduce the first paragraph of a story or to break up long text columns. Initial caps can be dropped or raised.
Innovation

Use of a new idea, material or technology by an industry to change either the goods or services produced or the way in which the goods or services are produced or distributed.
Inserts

Flyers that are inserted into newspapers.
Intangible Assets

Assets that add value or benefit to the business, but cannot be seen or touched; e.g., goodwill, experience, brand equity, trademarks, leaseholds, mineral rights and quotas.
Intaxication

An euphoric state experienced by one receiving a tax refund, which lasts until you realize it was your money in the first place.
Integrated

Built to work together, as with spreadsheets that are linked together.
Intellectual Property

Knowledge and information which can be legally owned, as defined by laws governing copyright, trademarks, patents, royalty obligations, etc.
Interest

A fee charged on borrowed money.
Internal Rate of Return

The discount rate that will bring the NPV calculation to zero (0). When compared to the alternative interest rate in the financial market, it indicates the business's profitability and the level of risk involved. See Net Present Value.
Internet

Worldwide network of computer networks that use the TCP/IP network protocols to facilitate data transmission and exchange (syn: cyberspace)
Internet Chat Relay (IRC)

Enables users to chat on the Internet.
Internet Protocol (IP)

Software that divides information into packets and transmits it via the Internet.
Internet Service Provider (ISP)

Provide web hosting, email and other services to individuals and organizations on the Internet.
Intranet

A private, secure Internet-based network used by a specific group of computers, such as by all employees and/or associates of a business.
Internic

Governing body that issues and controls Internet domains and addresses.
Integrated Services Digital Network (ISDN)

Enables telephone lines to transmit digital signals, permitting faster dial up and transmission speeds.
Invention

A new product or process. To be eligible for patent, the invention must be new, useful and not obvious beforehand.
Inventory

Items for sale by the business, also including items that may be used in the production of goods for sale.
Inventory Days or Turnover

The inventory level relative to the cost of goods sold, which indicates the efficiency of the inventory holding. Inventory days of 30 days means that the average inventory level is sufficient for one month.
Invest

Put money into an enterprise with the expectation of earning profit.
Investment Capital

Money set aside for starting a business.
IRC

See Internet Chat Relay.
ISP

See Internet Service Provider.
IT

Abbreviation for Information Technology.
Italics

Text that slants to the right.
Java

A programming language created in 1995 by Sun Microsystems; it allows content and software to be distributed through the Internet.
Job Sharing

An arrangement that allows the responsibilities and hours of one job position to be carried out by two people.
Joint and Several Liability

Legal term meaning that each (general) partner is fully liable for all the debts of the partnership and his personal assets may be required to pay off debts incurred by another partner.
Joint Venture

Business partnership formed for the sake of a specific project.
Justify

Aligns or justifies text at both the left and right margins or paragraph indents.
Kaizen

A Japanese term meaning continuous improvement.
Kerning

Increasing or decreasing spacing between specified pairs of letters.
Laid

Paper that has a line finish. It is one of the cheapest types of paper.
LAN

See Local Area Network.
Laser

Identifies a personality type or an approach to life and problem solving. One who applies a concentrated, far-reaching beam of thought or action.
Launch

To initiate action.
Leading

Increasing or decreasing spacing between lines of text.
Leads

Names and contact information of potential customers.
Lease

An agreement in which the owner (lessor) of an asset conveys the right to use the asset to another (lessee) for a specified period of time in return for some consideration, usually monetary. (See also Capital Lease and Operating Lease)
Leasehold Improvements

Renovation and other improvements made to the business premises. These become the property of the landlord.
Leverage

The relationship or ratio between the total liabilities and the equity of a business. The higher the ratio of debt to equity, the greater the leverage.
Liabilities

Obligations of the business resulting from transactions made in the past for payment in the future. (See also Current Liabilities and Long-term Liabilities)
Lien

The legal right to retain possession of someone else’s property until a debt is paid, or to have it sold or applied in payment of a claim.
Lifestyle Entrepreneur

An entrepreneur who starts or owns a business more for the lifestyle it affords than for other reasons, such as making money.
Limited Company

Separate legal entity that is owned by shareholders for the purpose of carrying business. Assets and liabilities of owners are separate from the company. Also called incorporated company or corporation or limited liability corporation.
Limited Liability

Legal protection accorded shareholders of an incorporated company whereby the owner's financial liability is limited to the amount of his share ownership.
Limited Partnership

Legal partnership where certain owners assume responsibility only up to the amount of their investment.
Line of Credit

An agreement between a lender and a borrower in which a maximum is established and which the borrower may draw as needed.
Linen

Paper that has a checker finish. It is the cheapest type of paper.
Linking

Referencing a graphic instead of importing it into a document, reducing the file size. Double-clicking the image in the document loads the source file so you can edit it. If the source file is edited the linked image is automatically updated.
Liquid Assets

Those assets, generally current assets, which may quickly be turned into cash without disrupting normal business operations.
Liquidation

Sale of the assets of a business to pay off debts.
Liquidation Value

The estimated value of a business after its operations are ceased, its assets are sold, and its liabilities are paid.
Liquidity

Solvency of the business; readiness to convert assets to cash to meet short-term liabilities and other commitments.
Loan

Money lent at interest for a fixed period of time. (See Demand Loan and Operating Loan)
Local Area Network (LAN)

A group of computers connected together in one location.
Logistics

Moving objects, such as products from one location to another.
Logo

A business or product name set in type in a distinctive way, often accompanied by a graphic.
LOL

Laughing out loud (cyber)
Long-term Assets

Assets which have a useful life greater than one year.
Long-term Liabilities

Financial obligations that may be paid out in a period longer than a year or beyond the normal operating cycle, excluding any portion of the debt principal that must be paid within the year.
Loss Leader

Item sold at a loss to attract buyers who will then buy other items as well.
Mainframe

Computer with a large central processing unit and huge memory.
Management

The administration and policy makers of a business; those responsible for planning of goals and objectives.
Manufacturer

A person or business that produces or manufactures goods on a large scale.
Margin

The space between text columns or visuals and the physical edge of a page.
Marginal Cost

Additional cost associated with producing one more unit of output.
Market

A number of people or organizations, who have a need for certain products or services and the ability, willingness and authority to purchase those products or services. Market Economy An economy where the setting of prices and allocating of resources are determined largely by the forces of supply and demand.
Market Niche

Special advantage in the marketplace where a business places itself.
Market Research

The collection of information about potential buyers or customers and about the competition from whom they currently buy. Also see ‘primary market research’ and ‘secondary market research’.
Market Segmentation

The identification of target customer groups in which customers are grouped according to their similar requirements and buying characteristics.
Market Share

Amount of a company's sales for a particular product as a percentage of total industry sales for that product.
Market Survey

An analysis of a particular market or of a particular aspect of a market.
Market Value

Value of an asset based on reasonable expectations of what a willing buyer would pay a willing seller.
Marketing

The process of advertising and selling goods and services.
Marketing Plan

Marketing program that outlines what you want to accomplish and how you propose to achieve these goals.
Markup

The amount a seller adds to the purchase price of a product or service. Markup usually covers operating expenses and profit.
Maximum Exposure

Indicates the maximum loss that might occur if the business terminates at the most critical moment, after all investments in fixed assets and working capital have been committed and before the business provides any earnings. It is calculated based on the lowest values of the accumulated profit (loss) plus fixed assets and inventory that occurs during the analyzed period.
Merchandise

Goods bought and sold in a business, is a part of inventory.
Microcomputer

Computer small enough to fit on top of a desk.
Middle Person

A person or business specializing in the purchase and sale of goods.
Minicomputer

Midsize computer, falling between a mainframe and a micro in cost, memory and speed.
Minimum Turnover Method

Technique for deciding on how much to buy based on maintaining a certain level of inventory turnover for a certain item.
Minority Businesses

Businesses owned by people who are socially and economically disadvantaged.
Misleading Advertising

Advertising that lies, implicitly or explicitly, about the price, quality, or use of a product - Illegal.
Mission Statement

A succinct statement which describes what a business does, its product(s) or service(s), its customers and its competitive advantage.
Modem

Device that enables computers to communicate and transmit information over telephone lines.
Monopoly

Domination of the entire market for a product by one supplier.
Morph, Morphing

The act of going through one or more changes; reinventing or reshaping your business. Ability to dramatically change with relative ease, greatly adaptable, usually in a computer-related way.
Mortgage

An agreement to convey the legal interest of property, which is held as security for payment of a debt or discharge of an obligation, until the debt is paid or the obligation discharged.
Multi-level Marketing

A method of selling goods and services through distributors. Distributors receive commissions for their sales and for the sales of those new distributors they have recruited. Plans that offer to pay commissions for recruiting new distributors are called “pyramids” and are illegal.
Multimedia

The term used to describe many forms of media, such as graphics, animation, audio and video.
Negotiating

Act of reaching an agreement through bargaining.
Net

Internet.
Net Assets

Fixed assets combined with the working capital. Net assets should equal the employed capital.
Net Book Value

The value of an asset calculated as the difference between the accumulated depreciation and the historical cost of the asset.
Net Cash Flow

The sum of all the cash transactions that were received or paid by the business.
Net Income

The excess of revenue over expenses for a specified period of time.
Net Lease

Signifies a property lease where a lessee is responsible for all costs such as taxes, heat, light, power, insurance, and maintenance.
Net Loss

The excess of expenses over revenue for a specified period of time.
Net Present Value (NPV)

A formula that calculates the present value (at any given time) of future cash transactions. The result is related to the discount rate and the timing of future transactions.
Net Profit

Reflects profit for a reporting period after all expenses (including finance expenses, taxes and other expenses) have been accounted for.
Net Value

Amount that is left of a gross amount after deduction of expenses or debts.
Net Worth

The difference between the market value of assets and the market value of liabilities. Net worth represents an estimate of how much cash would be received if all assets were disposed of and all liabilities discharged.
Net Worth Statement

A summary of the net worth of an individual and his business. Assets are estimated at fair market value, liabilities are subtracted from the assets and the result is the estimate of net worth.
Newsgroups

Electronic discussion groups where users can login and take part in a discussion with other users. Newsgroups exist for a variety of topics.
Newsreader

Software program that enables a user to subscribe to newsgroups.
Node

An addressable point on a network, such as a server, a printer or an individual computer.
Note Payable

Term used to distinguish a liability in the form of a promissory note from other liabilities such as Accounts Payable.
Note Receivable

Term used to distinguish an asset in the form of a promissory note from other assets such as Accounts Receivable.
Nutritional Requisition Registrar

Waiter or waitress.
Objectives

A broad, usually long-term target to aim for. The essential starting point for any planning process.
On Consignment

Goods shipped or turned over to an agent for sale, with payment to the shipper to follow sale, or products given to a retail outlet with payment to follow retail sale.
Operating Costs

Expenditures arising out of current business activities.
Operating Lease

A lease in which the lessor (owner) retains almost all risks and benefits of ownership of the asset.
Operating Loan

Cash advanced to a business to pay for operating costs, usually repaid within one year of the normal operating cycle.
Operational Cash Flow

The sum of cash transactions that come from the business operations; i.e., receipts from customers and payments to suppliers and employees. Not included are financial transactions such as loans and owner's equity.
Operational Profit

Presented in the profit and loss report and reflects the profit before finance expenses/income, taxes and other expenses. It is calculated based on the gross profit less operating expenses such as marketing expenses, general administrative, etc.
Operator

The owner or manager of a business or an enterprise.
Organization, Functional, Line and Staff, Line

Ways of organizing a business. For example, a line organization would arrange the business according to product line whereas a functional organization would arrange the business according to function, such as marketing, etc.
Orphan

Line of text left over from the bottom of a previous page, isolated at the top of a new page.
Outsourcing

Obtaining products or services from outside a business rather than creating them internally.
Overdraft

A debt to the bank incurred by withdrawing more money from an account than it holds.
Overhead or Overhead Expenses

Business expenses not directly related to the goods and services produced; e.g., utilities.
Owner Manager

One who owns and operates a business.
Owner’s Equity

The owner's investment in the business. Packaging The wrapping for a product.
Palette

A limited number of colours that project a unified image yet contain enough variety for both background and foreground colours.
Pancake

A problem that rapidly increases in size, scope and speed, involving more and more people; an explosion of confusion into the workplace. Usually results from not knowing who to ask for assistance.
Pantone Process Colours

Colours that are available through the PANTONE process colour system, which is based on the CMYK colour model. The first 2000 colours are two-colour combinations; the remainder are three- and four-colour combinations. Colours are based on CMYK and, therefore, do not add colour separation plates. Colours can be displayed by name or swatch.
Partnership

Two or more persons associated to pursue a business for profit.
Patent

The legal right to own an invention in Canada, on which royalties can be charged. A patent provides protection against others making, using or selling an invention without permission.
Payable Days

Represents the amount due to payables relative to purchases/ expenses amount and indicates the effective terms of payment that the company gets from its suppliers.
Payables

Trade or other liabilities that are due.
Payback Period

The time in which investment in the business is covered by the net income. After payback in achieved, the business's accumulated profit becomes positive.
Payments

Cash payments that were made in a given period to suppliers, payables and employees.
Peripherals

Devices such as printers or disk drives that are added to the basic hardware to perform specific functions; the computer's input and output devices.
Piecework

Money paid based on quantity of work produced, rather than by hours worked.
Ping, Pinging

Bouncing ideas off other people; useful for market research or for fine-tuning a product or service by "pinging" off potential clients. A request to a machine to reply; used to verify that the machine exists and is functioning correctly.
Plate

Made from a negative, there is a separate plate for each of the CMYK colours used for printing a document on the printing press.
Plug-ins

Extend the capability of a web browser to enable it to run other programs and multi-media applications.
Point

The standard unit for measuring type size, equal to 0.33mm (1/72 inch) or 72 points equal 1".
Point of Presence (POP)

The location of an Internet server.
Positioning

Refers to a product, a service or a business in terms of its position in the marketplace. For example, largest, smallest, fastest, most competitive. The process of creating an image for a product in the minds of target customers.
Positioning Statement

A succinct, believable, memorable written statement of a product's or brand's desired stature, including the main target customer, what the business sells, and the main benefit the product or service brings to the customer.
Posting

Act of making an entry in a ledger account.
Power of Attorney

The legal authority to act for another person; the document conferring that authority.
Preferred

Debtors that come ahead of subordinated debtors. Preferred debtors are paid first, before subordinated debtors.
Prepaid Expense

An operating expense, other than for inventory, that will benefit the business in the future. The amount is carried on the balance sheet as an asset to be charged to expenses when used.
Pre-press

Anything the print shop has to do to a document, or file, in order to ready it for printing.
Price Fixing

Collusion among competitive businesses to keep prices up.
Price Skimming

Charging a high price for a new product for which there is no competition, to take advantage of a demand that cannot be met elsewhere.
Price-earnings Ratio

The ratio of the price of a share to the profit per share, which indicates the number of years that it will take the share buyer to cover the share price. It indicates how attractive shares bought and sold in the financial markets are.
Primary Market Research

Research information gathered first-hand through observation, personal interviews, focus groups, formal surveys, mail surveys, telephone surveys.
Principal

Property or capital assets as opposed to income. Also, one who is directly concerned in a business enterprise, such as the owner or a shareholder.
Print Run

Each time a job is printed on the printing press it is considered one run. If you had the same document printed a second time from the same print shop it would be considered the second run and may be cheaper because the pre-press set up would already be done and paid for on the first run.
Printing Press

Used for mass printing. Plates are made for each colour.
Pro Forma

A projection or estimate of future results from actions in the present. A pro forma financial statement shows how the actual operation of the business will turn out if certain assumptions are realized.
Process Colours

Colours created by mixing the four basic ink colours on a page (cyan, yellow, magenta and black).
Product Positioning

Relates a product to its competition in the market, based on several criteria such as quality, price, image, etc.
Profiling

Building up a fuller picture of a target segment of a market.
Profit

The excess of the selling price over all costs and expenses incurred in making the sale.
Profit and Loss Statement

(See Income Statement)
Profit Margin

Difference between selling price and costs.
Projected Cash Flow Statement

Statement showing expected future sources of cash and how the cash will be used for business expenses, loan payments, capital purchases, and owner withdrawals from the business.
Promissory Note

A formal written promise to pay a stated sum of money to a particular person on a specified date, or on demand.
Prompt Payment Act

A federal law that requires federal agencies to pay interest to companies on bills not paid within 30 days of invoice or completion of work.
Proprietorship

(See Sole Proprietorship.) Protected Territory Exclusive territory granted to an operator by a parent company in which to sell goods or services.
Prototype

An early working model of an idea or invention, which is tested so that the design may be changed if necessary.
Psychographics

Classifying customers according to their activities, interests and opinions.
Pull Quote

Short, significant phrase often set in a different typeface and larger size that summarizes material in adjacent columns of text. They provide readers an opportunity to become interested enough to start reading the article.
Quick Ratio

The ratio of current assets to the current liabilities, which indicates the business's stability and ability to liquidate in the very short term. Also acid test ratio.
Rack Jobber

A wholesaler serving retail stores, who sells primarily on consignment basis; although often on other terms.
Raised Cap

Oversized initial cap that extends above the paragraph it introduces, creating visual interest by adding white space.
Rate of Return

The amount an investor will earn, usually expressed as an annual percentage.
Readability

A measure of how easily readers can comfortably comprehend extended text passages.
Read Only Memory (ROM)

A memory chip that stores data at the time of manufacturing that cannot be easily changed.
Receivable

An asset in the form of an amount due from a borrower or purchaser.
Receivable Days

Represents the amount owed by receivables relative to the sales volume and indicates the effective terms of payment that the company gives to its customers.
Receivership

Control of a business and its assets by a Receiver, usually a Chartered Accountant. Appointed by the creditor under the terms of a debenture, this person remains in control until debts are paid or business or assets are sold.
Registration Marks

Marks that help the print shop align each layer (or page) on the printing press.
Rent Seeker

The label applied to people and organizations that strive to collect residual benefits off others, usually for little or no investment or effort.
Research & Development (R&D) Expenses

Part of operational expenses and includes all expenses that are spent on developing new products, services or technologies. Included are related salaries, tools and materials used in product development, purchase of know-how and technologies, payments to sub-contractors, etc.
Resolution

A measure of sharpness with which pages are created. Increased resolution creates sharper images and smoother graduated background fills. Measured in dpi (dots per inch).
Retail

The sale of goods individually or in small quantities to the public, or dealing with the final consumer of goods and services.
Retained Earnings

The accumulated net profit of the business during its period of activity in the past and in the reporting period. Dividends paid to the owners are deducted from the retained earnings.
Return on Assets (ROA)

The net profit divided by the business's assets. This indicates the profitability of the business and the efficiency in using its assets.
Return on Equity (ROE)

The net profit divided by the owner's equity including retained earnings. This indicates the profitability for the owners and the efficiency of the equity employed.
Return on Investment (ROI)

An indicator that measures how attractive the investment is for the investors. It is calculated based on the net profit divided by the required investment.
Return on Sales (ROS)

The profit divided by sales revenues is the return on sales. This indicates profitability and the operational efficiency of the business. A decline in ROS indicates higher levels of expenses or a decline in sales.
Revenue

Income.
RGB

The millions of colours a monitor produces can all be described as amounts of red, green, and blue. These three colour components form the basis for the RGB (Red, Green, and Blue) colour model. Each of the three colours is assigned a numeric value between 0 and 255. The RGB model is based on colours of light, and higher RGB values correspond to the presence of greater quantities of white light. Consequently, higher RGB values result in lighter colours. Because the RGB model creates colours by adding light, it is called an additive colour model.
Rich Text Format or RTF

A standard word-processing format that can be used by most word processors.
Ripples

The effects of actions. Example: a change in the price of a product could create ripples with customers.
Rivers

Visual distraction in page layout typically caused by spaces inside consecutive lines of text that line up with each other. Often found in narrow columns of justified text where two spaces follow each period.
ROM

See Read Only Memory.
Rough

A draft copy of a brochure or other document. No detailed text is added. It is a layout and design technique to quickly try several different layouts in order to decide on the best one.
Royalties

Percentage of the revenue from the sale of a book, performance of a work, use of a patented invention or of land, paid to the author, inventor or owner.
Rules

Graphic accents created with a program's line-drawing tool. Rules can be used as borders, between columns, to emphasize text or to indicate the end of one text element and the beginning of a new element.
Sales and Marketing Expenses

Business expenditures for sales and marketing purposes. Include related salaries, advertising, public relations, exhibitions, commissions paid to sales people and agents, etc.
Sans Serif

A typeface design lacking the small finishing strokes that provides letter-to-letter transitions. (i.e., Arial)
Saturation

A measure of the strength of colour. Colours can be printed at 100% strength or printed as tints such as 10%, 30%, 50%, 80%, etc.
Scalability

How well a solution to some problem will work when the size of the problem increases. For example, a product that is easily replicated for a large number of customers is scalable.
Scale

Increasing or reducing the size of a text or graphic element while retaining the proportion (height to width ratio) of the original.
Scan

Converts a photograph or image into a digital file. Scanning makes it easy to crop photographs and is the first step toward other photo manipulation techniques.
Screen

Converts a continuous tone into a series of dots that can be reproduced as a half tone. Most software enables you to specify screens in 10% increments.
Search Engine

Enable users to search the World Wide Web, Usenet newsgroups and other Internet resources, using descriptive words.
Secondary Market Research

Research information gathered from secondary sources, such as Statistics Canada or the US Census Bureau, reports, articles in trade or consumer magazines, and the Internet.
Security

Something given or pledged to guarantee payment of a loan; collateral.
Segmentation Variables

The characteristics or dimensions of individuals, groups or businesses that are used for dividing a total market into segments.
Serif

A typeface design with the small finishing strokes that provide letter-to-letter transitions. Serifs enhance readability by guiding the reader's eyes from one letter to the next. (i.e., Times New Roman)
Server

A term used to describe both the hardware and the software that provides information or executes functions for computers attached to a network.
Shade

The addition of black or grey to a colour.
Share Capital

The ownership interest in an incorporated company, represented by the shares of that company.
Shareholders’ Equity

The excess of the net book value of the assets of an incorporated company over the value of its liabilities.
Shareware

Software that is made available to users by the developers at no cost.
Simple Interest

Interest calculated only on the principal of the loan.
Simplification

The act of making a business or function easier, faster, less problematic.
Single Variable Segmentation

Using only one variable to segment the market. This is the simplest type of segmentation.
Snip, Snippage

Commonly used terms within email to indicate that portions of an original message have been removed. Snip is used when one section is removed; snippage is used when multiple sections have been removed.
Software

Programmed instructions that tell the computer what to do. There are two types: operating system software and applications software.
Sole Proprietorship

Ownership by one person of the business is the simplest form of business organization. The owner has complete control and is personally liable for all debts of the business.
Spam, UBE, UCE

Spam is a generic term to describe unwanted email messages (email that is forced upon you, electronic junk mail). UBE - Unsolicited Bulk Email UCE - Unsolicited Commercial Email
Spider

Software programs that browse the Internet for information to add to a search tool’s database.
Spoofing

Impersonating someone on the Internet.
Spot Colour

Two or more colours that are mixed in advance and applied in one pass.
Spread

View of a publication showing both left and right pages together, as readers will encounter them.
Stake a Claim

To raise your flag on new cyberspace territory, to register a domain name.
Statement of Changes in Financial Position

A statement that shows sources of cash from business operations, sales of assets, owner’s contributions and borrowings for the past financial year. It also shows cash use for business operations, loan payments, assets purchased and owner withdrawals from the business.
Statement of Income

(See Income Statement)
Stickiness

A term used to describe the characteristics of a website that attract and keep users.
Streaming Video

Using a plug-in to watch a video in real time as it is downloaded, as opposed to storing it as file.
Style Sheet

A collection of styles that work together to govern the appearance of a drawing. You can choose a pre-set template or create your own template.
Styles

Time saving feature that allows you to save the typographic formatting choices contained in a file as a template or style sheet.
Subhead

Typographic device used to divide long articles into manageable, bite-sized chunks.
Subordinated

Debtors that come behind preferred debtors. Preferred debtors are paid first, before subordinated debtors.
Supplier Discounts

Price reductions given by suppliers based on the kind of customer or the size of orders, or to encourage prompt payment, etc.
Sweat Equity

The investment in time and effort by the owner into a new business.
Symmetry

Design term used to describe individual pages or two-page spreads characterized by left-right balance.
Table

Design technique that organizes complicated information in row and column format.
Takeover

Acquisition of one company by another.
Tangible Assets

The real assets such as equipment, cash, buildings, inventory, etc.
Targeting

The act of deciding which market segment(s) to prioritize for sales and marketing efforts.
Target Market

The specific individuals, distinguished by socio-economic, demographic and interest characteristics who are most likely potential customers for the goods and services of a business.
Tariffs

Foreign government taxes levied on exports.
Template

A read-only file containing the formatting information necessary to create a finished document.
Term Loan

A medium or long-term loan, usually extended to purchase fixed assets (land, buildings, equipment, leasehold improvements, etc.)
Terms of Sale

Conditions concerning payment for a purchase.
Tint

The addition of white to a colour.
Tracking

Increasing or decreasing letter spacing uniformly throughout a headline or column of text to improve the appearance of the text.
Trade Credit

Credit terms offered by one business to another. Example, a building supply vendor might extend credit to a trusted renovator.
Trademark

Name, symbol or other mark that identifies a product to customers, and is legally owned by its manufacturer or inventor.
Trend Analysis

Analysis of a business's financial ratios over a period of time, to determine whether its financial situation has improved or deteriorated.
Trial Balance

Result of adding all credits and all debits to check that the two sums are equal.
Trimming

Cutting off edges of the paper. Usually done in conjunction with a bleed.
True Type

A typeface promoted by Apple and Microsoft. True type fonts often print faster on laser printers than competing typeface formats.
TTFN

Ta, Ta for now (cyber)
TTYL

Talk to you later (cyber)
Tunneling

A secure mechanism which permits transmission of data across points of access on the Internet.
Turn Key Operation

Project, such as setting up a business or an office, where all the work is done by a contractor and handed over in working order to the owner. The owner will then just “turn the key”.
Turnaround

The act of taking a company from a downward path to a prosperous one.
Turnover

Number of times per year that a product is sold and reordered.
Type 1

Adobe's universally accepted typeface format characterized by the largest selection of typefaces and the easiest acceptance by service bureaus such as print shops.
Typeface

Variations of font characters.
UBE

(See Spam)
UCE

(See Spam)
Undifferentiated Or Total Market Approach

An approach that assumes that all customers have similar wants and needs and they can be served with a single marketing mix.
Uniform Resource Locators (URL)

The standard address format for the World Wide Web, including domain name, IP address and protocol type.
Unique Selling Proposition

The reason a product or service is different and better than the competitors’ products or services.
Unit

Any item or group of items considered as one for sale by the business; e.g., one wooden item for a craftsperson, one hour for a researcher
Unlimited Liability

Fully responsible for all debts of a business; i.e., personal assets can be required to pay off the business debt.
Unreasonable

Not governed by reason; ignoring what appears to be reasonable in order to create outcomes that appear to be impossible. A forceful and visionary approach to solving a problem or changing a paradigm.
Variable Cost or Expense

Costs which may vary according to the amount of production or sales activity.
Venture Capital

Funding provided to new or existing businesses that exhibit potential for above-average growth, used to support new or unusual undertakings; equity, risk or speculative investment capital.
Venture Capitalist

An investor or organization that invests in businesses with a considerable level of risk and is willing to invest in a medium- to high-risk business in exchange for a very high level of return.
VERONICA

Acronym for Very Easy Rodent Oriented Netwide Index, a network utility that enables a user to search thousands of Gopher servers throughout the world.
Vision Statement

A succinct statement that describes what a business wants to be, how it wishes to be viewed by its customers, and how it will treat its internal and external customers.
Virtual Private Network (VPN)

A Wide Area Network (WAN) formed by connecting two or more Local Area Networks (LANs) securely through the Internet.
Virus

A program developed to attack computer systems and create problems.
Vision Statement

A sentence or two describing the long-term aspirations of a business.
Visualization

The creative act of conceiving how you want the project to look when finished and printed.
Warranty

Promise to the buyer that the product sold is of good quality and that, if not, certain repairs and replacements will be made.
Watermark

Very light background text or graphic element that appears on each page, behind the primary text or graphic elements.
Web

The sub-section of the internet that can be browsed (i.e., with a "web browser")
Web Server

A computer containing World Wide Web documents, connected to the Internet.
Weight

Typeface with different strokes of thickness ranging from light to heavy, permitting you to add visual interest and voice to your text without choosing a different typeface.
White Space

A page layout term referring to areas of rest and quiet on a page. White space is free from text, visuals or graphic elements, providing the contrast necessary to frame text and visuals.
Wholesaler

A middle person who sells to retailers and to other merchants, or to industrial, institutional and commercial users; not usually to the end consumers.
Wide Area Network (WAN)

Two or more local networks connected together via high-speed telephone lines.
Winding Up

Legal procedures of closing down a limited company.
Working Capital

The capital that is required for the current operations of the business including credit extended to customers less credit received from suppliers for inventory, etc.
World Wide Web (www)

A collection of standards and protocols that make it possible to view and retrieve information from the Internet.
Wrinkles

Something other people have. You have character lines.
Write-off

Removal of a worthless asset from the company's books.
WYSIWYG

Acronym for What You See Is What You Get. Text and graphics that print in the same format as is visible on the computer screen.
XML

See Extensible Markup Language.
Zone Pricing

Setting the price of an item according to where it is sold, to allow for extra shipping charges or other costs that vary from region to region.