In May 2015, the Austrian Standards Institute published a revised version of ÖNORM A 2704 "Terminologiearbeit - Grundsätze und Methoden" (Terminology work - Principles and methods). With the former version dating from 1990, the members of Austrian Standards Committee 033 Terminology and other language and content resources opted for a thorough evaluation of the 1990 standard and renegotiation of the contents to be included in the revised version, allowing for extensive changes both in terms of content and structure. The recently revised standard has two main objectives. The first is to provide a succinct, yet comprehensive overview of the well-proven principles and methods of terminology work that many people need when doing terminology work. Secondly, it also aims at describing and anticipating future trends in terminology work that have recently been appearing on the horizon. The present publication is intended to make the new ÖNORM A 2704 known to all those interested in terminology work who are not proficient in German. The authors decided to select and zoom in on those parts of the standard that might offer a significant added value to an international audience. Thus, the present publication focuses on the concept and core processes of terminology work (Section 2), concept modelling (Section 3), on names and name-like designations (Section 4) as well as application scenarios (Section 5). An English version of the ÖNORM A 2704 table of contents is provided in the annex to this publication and shows the full scope of the standard.