Fiducia TogetherProfessional indemnity insurance
Also called PI insurance, PII, Errors and omissions
Cover for claims that your advice or work caused someone a financial loss.
Business A to Z
Every trade has words it uses without explaining. In business the cost of not knowing one is real: some of them are ordinary jargon and some of them are a decision that can take a house.
Please note: This page explains what a term means. It is general information, not legal, financial, tax or investment advice, and it does not know anything about your business. Before you sign, file or commit to anything, check it with an accountant, a solicitor, or the official guidance we link to.
Studying business? We write GCSE revision songs, and there is one for business studies. Listen to the revision playlist.
500 terms, showing 351–360 (page 36 of 50).
P
Profit
Also called Gross profit, Net profit, Bottom line
What is left after costs — and there are at least three different answers depending on which costs you mean.
Profit and loss account
Also called P&L, Income statement
The report that shows what you earned and what you spent over a period, ending in the profit figure.
Project management
Delivering something with a start, an end and a defined outcome.
Proposal and quotation
The document that asks for the business. A contract in waiting.
PSC
Also called Person with significant control, Beneficial owner
Anyone who ultimately owns or controls a company, recorded on a public register.
Public liability insurance
Cover for injury or damage caused to third parties.
Public relations
Earned coverage rather than paid. Slower, cheaper and more credible.
Purchase ledger
The record of what you owe suppliers, and the controls around paying it.
Purchase order
A customer's formal instruction to supply. Often the thing that makes an invoice payable.
Something missing?
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