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Online Accounting - In recent years a number of accounting software developers have created online applications for small business accounting. These software programs, accessed through the Internet, allow the user to enter all transactions using a constantly updated accounting program, and access data that resides on a server separate from the desktop computer.

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Operating activities - Transactions and events that enter into the determination of net income.

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Operating assets - Long-term, or noncurrent, assets acquired for use in the business rather than for resale; includes property, plant, and equipment; intangible assets; and natural resources.

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Operating Budgets - Operating budgets are those budget allowances that pertain to the expenses and the incomes which are included in the profit and loss statements of the company for the given fiscal period.

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Operating Lease - An operating lease is a short-term, cancelable lease. An operating lease is expensed and not capitalized on the books of the company. See Capital Lease.

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Operating leverage - The extent to which fixed costs are part of a company's cost structure; the higher the proportion of fixed costs, the faster income increases or decreases with sales volumes.

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Other Assets - Other Assets is a category of assets on the Balance Sheet including intangible assets that will not be converted into cash over the next 12 months. Examples of Other Assets are goodwill, covenant not to compete, trademarks, catalogs, brands, copyrights, loan fees, escrow costs, formulas, franchises, and mailing lists.

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Other revenues and expenses - Items incurred or earned from activities that are outside, or peripheral to, the normal operations of a firm.

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Owners' equity (net assets) - The ownership interest in the assets of an entity; equal total assets minus total liabilities.