Important: these definitions are intended as a quick guide only. You should always consult the relevant legislation for full legal definitions.
Accounting standards are issued by the Accounting Standards Board and are designed to ensure accounts show a true and fair view. All accounts submitted to the Electoral Commission must conform to accounting standards.
Accounting unit (AU)
A constituent or affiliated organisation that is responsible for its own financial affairs separately from those of a political party's central organisation.
The capital of an organisation but it is not referred to as 'capital'. It is an accumulation of surpluses over the years and hence the term accumulated fund.
If a donor makes multiple donations, all below the reporting thresholds (£7,500 to central party and £1,500 to accounting units), the party is required to report these donations once they aggregate above the reporting threshold.
AONB (Area of Outstanding Natural Beauty)
A landscape whose distinctive character and natural beauty are so outstanding that it is in the nation's interest to safeguard it. The Boundary Committee for England takes account of AONBs when making recommendations in their reviews.
The assets of a political party are the money, goods and property that it possesses; including any legal rights it may have to receive money, goods, services and property from others. Fixed assets are assets which continue to be of value to the party year after year and which the trustees hold on a long-term basis and therefore do not intend to dispose of in the short term.