Like most industries the accounting and financial planning professions have particular terms. Below is an explanation in plain English of what some of the terms you may hear actually mean.
Statement of Advice. The document that......
Profit and Loss...
Balance Sheet
BAS IAS
Tax Return or Tax Refund? The Tax Return is the document you lodge to report your tax liability in a financial year. The Tax Refund is the amount you may received back, in form of a cheque refund.