Financial reporting: 15 key terms to get you started 05.04.2019 Salomé Teuteberg, Johannesburg "Expanding your practical knowledge of the financial terms corporate companies use will enable you to read annual reports and corporate documents. There are some basic financial terms that every union member should know when they start to deal with a company and its management. These terms could be used in meetings or during bargaining, and your ability to understand these terms will affect your negotiating power."