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ACCA help - Glossary of Terms and Definitions - Letter P

Partner
Participation
Payment-by-results (PBR)
Perfect market
Performance materiality
Perpetual inventory
Personnel
Pervasive
Philosophy
Policy
POOGI (Process of Ongoing Improvement)
Population
Portmanteau
Positive confirmation request
Positive feedback
Post-
Practitioner
Preconditions for an audit
Predecessor auditor
Pre-determined
Prediction
Premise (relating to the responsibilities of management and, where appropriate, those charged with governance, on which an audit is conducted)
Prime costs
Principal
Principal-agency problem
Principal-agency Theory
Proactive management
Probability
Process of elimination
Product development
Product line
Product-mix
Product Profitability Analysis (PPA)
Product routing
Professional accountant
Professional accountant in a public practice
Professional Behaviour
Professional Competence and Due Care
Professional judgment
Professional scepticism
Professional standards
Professional standards (in the context of ISQ 1)
Profit centre
Prognosis
Projection
Prospective financial information
Protocol
Prototype
Prove
Pseudo-participation
Public sector

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