Software that can be downloaded, modified and redistributed for free. However, open source software often includes restrictions on re-sale.

A protocol that is governed by an organization anyone can join.

1. Computing: A system designed according to known standards that can interact freely with other systems using the same standards. Open system standards must be fully defined, stable over a long period

A system or device that is designed around common standards and is independent of individual vendors. Thus, any vendor is able to create programs or interfaces for the system or device, and

International standard computer network architecture, as defined by ISO protocols. A modular approach to network design is used to divide necessary functions into seven layers so that equipment provided by different vendors

A bidding system that is not private. It is opened for all qualified bidders. Bids are then chosen openly, based on price and quality.

Travel ticket that is valid for a fixed period of time, but that does not specify particular travel times.

A transaction that has not been completed by the end of a particular accounting period.

A credit system in which merchandise may be received based only on the promise of payment.

A fund that allows shares to be bought or sold, according to demand. The fund?s market value is calculated by dividing the total value by the number of shares and then adding

A loan that can be expanded incrementally, up to a fixed limit. The loan is secured by the same mortgage throughout.

Balance at the beginning of a new accounting period, brought forward from the previous period.

The initial figures used in a financial plan. For established businesses, these figures are based on the balance sheet from the previous accounting period. For new businesses, the figures are based on

This is an audible signal that indicates the start of the working day at an exchange. Ringing the bell is recognized as a privilege by celebrities and listed companies.

The first bookkeeping entries of a new firm, account or accounting period.

The stock owned by a business at the start of an inventory keeping period.

Willingness and ability to accept behaviour or beliefs that are different to one?s own or to those of the mainstream.

1. To run some part of machinery or a business. 2. To function properly. 3. To perform medical surgery.

Overall income, adjusted for depreciation and the amortization of costs and assets.

A quality control graph that shows the likelihood that a production lot will contain an acceptable number of defective items using various sampling schemes.