A guild is a medieval organization that functioned as a precursor to modern unions, typically encompassing associations of artisans or merchants. Today, it refers to any association representing the interests and needs of a particular professional or business group.

Process costing is a method of costing used primarily in manufacturing where goods or services result from a sequence of continuous or repetitive operations.

Transfer pricing involves setting prices for transactions between affiliated entities under common ownership, often used to allocate revenue and expenses among those entities to benefit from tax advantages.

UK GAAP refers to the practices followed by British accountants in preparing company accounts, governed by accounting standards, theoretical accounting concepts, and legal requirements. These are increasingly critical in determining taxable profits.