Financial Dictionary - B

Article Index

Bad Debt

a debt with little chance of being recovered and written off as a loss.

Balance Sheet

a statement of assets, liabilities and net equity for an enterprise at a point of time.

Bank Cheque

a cheque that draws money specifically from funds you own held in a bank.


when a debtor has his/her estate placed into the hands of a receiver who has the responsibility for its distribution.

Basic Variable

a variable home loan at a reduced rate but generally with fewer features than a standard variable.


person presenting a cheque to a bank

Body Corporate

a corporation of the owners of units within a building. They form a self-elected council for the management of the building and common areas.

Break Cost

costs incurred when a loan is paid off before the end of its term. Generally applies to fixed loans.

Bridging Finance

a loan that enables you to cover the purchase of a new property when you are yet to sell your existing property.

Building Regulations

the standards formulated by local councils to control the quality of buildings.