Nominal Ledger

A nominal ledger is the main place where accounting transactions are recorded. It contains profit and loss, balance sheet and the nominal account – a complete set of accounting records.

Net Profit Margin

Net profit margin is the percentage of revenue left after all expenses have been deducted from sales. The measurement reveals the amount of profit that a business can extract from its total sales. The net profit margin is intended to be a measure of the overall success of a business. A high net profit margin…

NIC

National Insurance Contributions – NIC’ Payments made by employees and employers into the United Kingdom’s National Insurance (NI). National insurance contributions initially funded programs for the ill and unemployed, and later on eventually paid for state pensions too.

Notes to the accounts

Additional information provided at the end of financial statements to provide further details on specific items in the financial statements.

Non Executive Director (NXD/ NED)

Directors who are not employees of a company that provide creative contribution, guidance and support to management. Their responsibilities are around managing people, risks, strategy and performance.