Glossary - Acronyms used in Accounting

GLOSSARY OF ACRONYMS
AASB - Australian Accounting Standards Board
ABR - Australian Business Register
ABN - Australian Business Number
A/C - Account
AS - Activity Statement
ASIC - Australian Securities and Investment Commission
ATI - Adjusted Taxable Income
ATO - Australian Taxation Office
BAS - Business Activity Statement
B/S - Balance Sheet
BSt - Bank Statement
CA - Chartered Accountant
C@B - Cash at Bank
C/F - Carry Forward
CFY - Current Financial Year
CGT - Capital Gain Tax
CPA - Certified Practicing Accountant
CWDV - Closing Written Down Value
DCL - Depreciation Car Limit
DRP - Dividend Reinvestment Plan/Scheme
EFT - Electronic Funds Transfer
ELD - Electronic Lodgement Declaration
ELS - Electronic Lodgement System
ETP - Employment Termination Payment
ETR - Education Tax Refund
FAO - Family Assistance Office
FAQ - Frequently Asked Questions
FBT - Fringe Benefit Tax
FY - Financial Year
GST - Goods and Services Tax
HECS - Higher Education Contribution Scheme
HELP - Higher Education Loan Programme
IAS - Instalment Activity Statement
ICAA - The Institute of Chartered Accountants Australia
ITAA - Income Tax Assessment Act
ITC - Input Tax Credits
ITR - Income Tax Return
KPI - Key Performance Indicator
LCT - Luxury Car Tax
LITO - Low Income Tax Offset
LFY - Last Financial Year
MAWTO - Mature Age Worker Tax Offset
M/L - Medicare Levy
MV - Market Value
M/V - Motor Vehicle
NIA - National Institute of Accountants
NOA - Notice of Assessment
NTAA - The National Tax and Accountants’ Association
OWDV - Opening Written Down Value
P&E - Plant and Equipment
P&L - Profit and Loss
PAYG-I - Pay As You Go Instalment
PAYG-W - Pay As You Go Withholding
PSB - Personal Services Business
PSE - Personal Services Entity
PSI - Personal Services Income
R&M - Repairs and Maintenance
RFB - Reportable Fringe Benefits
SATO - Senior Australian Tax Offset
SBDC - Small Business Development Corporation
SBE - Small Business Entity
SBR - Standard Business Reporting
SG - Superannuation Guarantee
SISA - Superannuation Industry Supervision Act
SISR - Superannuation Industry Supervision Regulations
SMSF - Self-managed Superannuation Fund
STS - Simplified Tax System
TAP - Tax Agent Portal
TD - Taxation Determination
TFN - Tax File Number
TIA - Taxation Institute of Australia
TPB - Tax Practitioners’ Board
TR - Taxation Ruling
WET - Wine Equalisation Tax
Y/E - Year End
YTD - Year to Date