Flash earnings

A news release issued by a company that shows its latest quarterly results.


An abbreviation of Free On Board. It generally forms part of an export contract where the seller pays all the costs and insurance of sending the goods to the port of shipment. After that. the buyer then takes full responsibility. If the goods are to travel by train. it´s called FOR (Free On Rail).


First In First Out. A method of valuing stock.

Freight collect

ie. the buyer pays the shipping costs.

Fiscal Year

The term used for a business´s accounting year. The period is usually twelve months which can begin during any month of the calendar year (eg. 1st April 2001 to 31st March 2002).

Fixed assets

These consist of anything which a business owns or buys for use within the business and which still retains a value at year end. They usually consist of major items like land. buildings. equipment and vehicles but can include smaller items like tools.

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