Sometimes referred to as a tax year. Refers to a period of 12 months or 52 consecutive weeks, which financial reports are then prepared.
Tax year
tax levied by governments on the total income earned by companies and individuals.
Income Tax
pay as you earn tax. A tax which is deducted before you receive your wage or salary.
PAYE
economic boom refers to increased activity in a sector, industry, or particular market. Can also be referred to as “growth period or upturn”.
Boom
informal term used for when a company or even an economy goes bankrupt. E.g. "The company went ...... last year."
Bust
refers to when no profit is made, and the expenditure is more than the income.
Deficit
refers to when profits are made. The employees can take some of that money
Surplus
Refers to the lack of growth, movement, or development.
Stagnation
system of currency in use in a general country, e.g., “the euro is a strong ...........”.
Currency
The value of one currency with the purpose of converting to another.
Exchange Rate
