I present a short overview of current observational results and theoretical models for a cosmological constant. The main motivation for invoking a small cosmological constant (or A-term) at the present epoch has to do with observations of high redshift Type Ia supernovae which suggest an accelerating universe. A flat accelerating universe is strongly favoured by combining supernovae observations with observations of CMB anisotropies on degree scales which give the ‘best-fit’ values Θ_A ⋍ 0.7 and Θ_m ⋍ 0.3. A time dependent cosmological A-term can be generated by scalar field models with exponential and power law potentials. Some of these models can alleviate the ‘fine tuning’ problem which faces the cosmological constant.