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Glossary of Terms starting with "A" from the Australian Financial Services sector.

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the recording and organising of the financial transactions of a business for the purpose of determining its financial status.


a professional person who applies mathematical, statistical and financial analysis to business activities Actuaries analyse financial transactions and assess risks. Actuaries operate mainly in the superannuation, investment and insurance industries.


Australian Financial Services Licence issued by the Australian Securities and Investment Commission (ASIC).

Age Discount Insurance  

once the insured reaches a certain age, commonly 50 or 55, discounted insurance is available for some types of insurance. If the insured is over 50 and not working full-time they are more likely to be at home more frequently and thereby reduce the risk to the insurance company on home and contents policies. The lower risk is passed on to the insured in the form of reduced or discounted premiums.

All Ordinaries  

a weighted numerical index measuring the collective market price movements of major stocks listed on the Australian Stock Exchange (ASX). A basket of the largest companies is combined in a manner that reflects their size and market capitalisation to produce an index representing the general changes in share value of Australia's top listed companies. A rise or fall in the All Ordinaries index is a fair reflection of the trend in the value of companies listed on the ASX as it is a broad collective and weighted measure.

Amortisation Period  

the period of time a borrower has to repay a loan at the arranged terms.


an increase in the value of an asset over time.


Australian Prudential Regulation Authority is the prudential regulator of the Australian Financial Services Industry. APRA oversees Banks, Credit Unions, Building Societies, General Insurance and Reinsurance companies, Life Insurance, Friendly Societies, and most members of the Superannuation Industry. APRA has the power to disqualify an individual from holding prudentially significant roles within the Australian Authorised Deposit-Taking, General Insurance and Superannuation Industries.


loan repayments that are overdue.


anything of value that you own. It is an interest in cash, goods or property that can be used for the payment of debt. Assets are usually classified as Fixed and Current Assets.

Asset Classes  

are the classification of investment into broad types of investments such as cash, fixed interest securities, shares and property.


the elimination of reasonable doubt and the provision of a high level of certainty or confidence that the information presented is correct.


the process of examination of a company's accounts. Audits may take a number of forms but internal and external audits are the most common forms. A key factor in an audit whether internal or external is the independence of professional performing the audit to conduct their own investigation.

Authorised Deposit-Taking Institutions  

(ADIs) are corporations which include Banks, Building Societies and Credit Unions that are authorised under the Banking Act of 1959.

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