Items

• international trade

  It is the buying and selling of goods and services and capital between different countries across international borders.
• inventory

  This includes raw materials, work- in-progress, finished goods and other items that the business use in its operations.
• investment

  The usage of money to acquire assets with the expectation of generating future income.
• invoice

  Document issued to a buyer by a seller providing the details about the transaction.
• irrecoverable

  Amount of money that will not be received from a receivable/debtor.
• issued share capital

  It is the number and/or amount of shares that the company issued and sold to its ordinary shareholders.
• journal

  It is a document used to record the transactions of the business.
• King Code

  The exercise of ethical and effective leadership by the governing body.
• labour

  It is the physical or mental activity undertaken to produce goods or services.
• labour cost

  Expenditure for the physical or mental activity undertaken to produce goods or services.
• labour issues

  Challenges related to workers.
• land and buildings

  Land and buildings
• lay-bye

  Payment method that allows a customer to set aside and buy a product over a period of time by paying in instalments.
• ledger

  A document that has a detailed summary of financial transactions for a specific account or accounts.
• legal

  Related to the law.
• liability

  It is an obligation that a company has to another party.
• LIFO (last in first out)

  It is a method of inventory management where items acquired last are the first ones sold/removed.
• liquidity

  It is the ability of the company to meet its financial obligations and manage its daily operations.
• liquidity indicator

  Something that shows the company’s ability to meet its short- term financial obligations and the ability to manage its daily operations.
• liquidity ratio

  A ratio that shows the company’s ability to settle its short-term liabilities and manage its daily operations.
• loan

  Money borrowed from the lender with the agreement to repay it back with interest.
• loss

  A situation where expenses exceeds income.
• loss on sale of an asset

  A situation where the money received from selling the asset is less than the carrying amount of that specific asset.
• mark-up

  It is the amount of money that is added to the cost price of inventory to arrive at the selling price.
• marketable securities

  Financial instruments or assets that can be easily bought or sold.