Glossary
Explanations of terms in accounting, key figures, company information, public registers and Proffi's services.
A
- A and B shares
Share classes with different rights.
- Access and correction
Your privacy rights – always free.
- Advance tax
Tax paid in advance.
- Annual accounts
How to read annual accounts.
- Annual accounts deadline
When annual accounts must be filed.
- Articles of association
The company's basic rules.
- Assignments
Private B2B assignments and requests.
- Audit obligation
Who must have an auditor.
- Auditor's report
The auditor's statement on the accounts.
B
- Balance sheet
Overview of assets, liabilities and equity.
- Bankruptcy
Compulsory liquidation due to insolvency.
- Bankruptcy notice
Notice of a bankruptcy petition.
- Bankruptcy quarantine
Ban on founding or managing companies.
- Beneficial owner
The person who actually controls the company.
- Board liability
The board's duties and risks.
- Board member
Requirements for the board of an AS.
- Budget
Plan for income and costs.
- Business, company and enterprise
What is the difference?
C
- Cash flow
Money in and out of the business.
- Central Coordinating Register
Register of all Norwegian legal entities (Enhetsregisteret).
- Certificate of registration
Extract from the Register of Business Enterprises.
- Check a company before signing
Practical checklist.
- Claim a company
Take ownership of the company profile – free.
- Company search
Search all Norwegian companies.
- Compulsory dissolution
Dissolution ordered by the district court.
- Credit check
Check of ability to pay.
- Credit note
Correction of an invoice.
- Credit score
Assessment of credit risk.
D
- Data sources
The sources Proffi collects data from.
- Debt ratio
Debt relative to equity.
- Dividend
Distribution to shareholders.
- Doffin
Norway's national database for public procurement.
E
- EBIT vs. EBITDA
The difference between the two profit measures.
- EBITDA
Earnings before interest, taxes, depreciation and amortisation.
- EHF invoice
Norwegian standard for electronic trade invoices.
- eInvoice (eFaktura)
Electronic invoice in online banking.
- Employer's national insurance contribution
Tax employers pay on salaries.
- Employment contract
Written employment agreement.
- Encumbrances
Liens and registered charges.
- Equity
Assets minus liabilities.
- Execution lien
Enforced lien for a claim.
F
- Feed
Updates from companies and people.
- Framework agreement
Agreement on future purchases.
- Full-time equivalent (FTE)
One year of full-time work.
G
- General manager (CEO)
Leads day-to-day operations.
- Get it done
Find local professionals for any job.
- Goodwill
Excess value paid in an acquisition.
- Group (parent and subsidiaries)
Parent company and its subsidiaries.
H
- Holding company
Company that owns other companies.
- Holiday pay
Earned pay for holidays.
I
- Industries
Companies by industry and service.
- Industry code (NACE)
Classification of business activity.
- Invoice
Requirements for invoice content.
L
- Late filing fee
Fee for late annual accounts.
- Limited Liability Companies Act
The law governing Norwegian limited companies (AS).
- Liquidity
Ability to meet current obligations.
M
- Mandatory occupational pension (OTP)
Pension obligation for employers.
- Minimum wage
Generally applicable wage rates in Norway.
N
- Net profit
Profit after tax.
- Notice period
Time from resignation to leaving.
O
- Opening balance
The balance sheet at start-up.
- Operating margin
Operating profit as a percentage of revenue.
- Operating profit (EBIT)
Profit from ordinary operations.
- Organisation number
Nine-digit ID for Norwegian entities.
P
- Payment remark
Registered defaulted payment.
- Payslip
Overview of salary paid.
- Places
Companies by county and municipality.
- Procuration (prokura)
Authority to bind the company.
- Proffi Market
Marketplaces for products and services.
- Proffi+
Add-on services for people and companies.
- Profit margin
Profit as a percentage of revenue.
- Public tenders
Competitions for public contracts.
R
- Re-invoicing
Passing costs on to a customer.
- Register of Business Enterprises
Register of enterprises obliged to register (Foretaksregisteret).
- Return on equity
Return on the owners' capital.
- Revenue
Total sales income.
S
- Sales abroad
VAT on exports.
- Segmentation
Build company lists with filters.
- Share issue (capital increase)
Increase of the share capital.
- Shareholder
Owner of shares in a company.
- Shielding deduction
Tax-free return on shares.
- Sickness benefit
The employer period and NAV.
- Signing authority
Right to sign on behalf of the company.
- SkatteFUNN
Tax deduction for R&D.
- Sole proprietorship (ENK)
Business form with personal liability.
- Solvency
Equity as a percentage of total capital.
- Supplier
Find suppliers by service and location.
T
- Tax certificate
Confirmation of paid taxes and duties.
- Tax on share gains
Tax when selling shares.
- Tenders
Public tenders from Doffin on Proffi.
V
- VAT periods
Deadlines for the VAT return.
- VAT Register
Register of VAT-liable businesses.
- VAT return
Reporting of value added tax.
W
- Waste management
Requirements and choosing a supplier.
- Working capital
Current assets minus current liabilities.