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Definition of AD
The ability to produce a good or service with fewer resources than competitors. See also comparative advantage.
Coverage against accidental death usually payable in addition to base amount of coverage.
a price concession made under competitive pressure (real or imagined) that does not relate to quantity purchased
A protection against borrower fallout risk in the mortgage pipeline.
Amounts in excess of the par value or stated value that have been paid by the public to acquire stock in the company; synonymous with capital in excess of par.
Any payment received from investors for stock that exceeds
Difference between issue price and par value of stock. Also called capital surplus.
the present value of a finite stream of cash flows for every beginning $1 of cash flow.
Publicly traded issues that may be collateralized by mortgages and MBSs.
Cash flow provided by operating
Net income adjusted to exclude selected nonrecurring and noncash items of reserve, gain, expense, and loss.
Conventional earnings before interest, taxes, depreciation, and amortization (EBITDA) revised to exclude the effects of mainly nonrecurring items of revenue or gain and expense or loss.
Operations Reported income from continuing operations
The net present value analysis of an asset if financed solely by equity
The entries needed at the end of an accounting period to properly state certain account balances.
an organizational unit that performs management activities benefiting the entire organization;
Administrative pricing rules
IRS rules used to allocate income on export sales to a foreign sales corporation.
A payment made by a customer to the company, or by the company to a
A promise to sell an asset before the seller has lined up purchase of the asset. This
Advance material request
Very early orders for materials before the completion
A situation in which market participation is a negative signal.
Allowance for bad debts
An offset to the accounts receivable balance, against which
American Depositary Receipts (ADRs)
Certificates issued by a U.S. depositary bank, representing foreign
the amount of overhead that has been assigned to Work in Process Inventory as a result of productive activity; credits for this amount are to an overhead account
An account receivable that cannot be collected.
The amount of accounts receivable that is not expected to be collected.
Refers to accounts receivable from credit sales to customers
Balance of Merchandise Trade
The difference between exports and imports of goods.
Balance of trade
Net flow of goods (exports minus imports) between countries.
Balance of Trade
See balance of merchandise trade.
Related: Program trades.
Bill of lading
A contract between the exporter and a transportation company in which the latter agrees to
A large trading order, defined on the New York Stock Exchange as an order that consists of
Bonds issued by emerging countries under a debt reduction plan.
A spread strategy in which an investor buys an out-of-the-money put option, financing it by
an activity that is necessary for the operation of the business but for which a customer would not want to pay
Canada Pension Plan (CPP)
A plan that provides retirement and long term disability income benefits to residents of Canadian provinces (excluding Quebec).
Canada Savings Bonds
A bond issued each year by the federal government. These bonds can be cashed in at any time for their full face value.
Agency banks established by Canadian banks in the U.S.
Canadian Deposit Insurance Corporation
Better known as CDIC, this is an organization which insures qualifying deposits and GICs at savings institutions, mainly banks and trust companys, which belong to the CDIC for amounts up to $60,000 and for terms of up to five years. Many types of deposits are not insured, such as mortgage-backed deposits, annuities of duration of more than five years, and mutual funds.
Canadian Life and Health Insurance Association (CLHIA)
An association of most of the life and health insurance companies in Canada that conducts research and compiles information about the life and health insurance industry in Canada.
Cash value added (CVA)
A method of investment appraisal that calculates the ratio of the net present value of an
A country has a comparative advantage over another country in the production of good A if to produce a unit of A it forgoes more of the production of good B than would the other country when it produces a unit of good A. Its efficiency in the production of good A relative to its efficiency in the production of good B is greater than is the case for the other country. See also absolute advantage.
The strategies, skills, knowledge, resources or competencies that differentiate a business from its competitors.
computer-aided design (CAD)
a system using computer graphics for product designs
cost leadership strategy
a plan to achieve the position in a
The exchange of goods for other goods rather than for cash; barter.
The cumulative, after-tax, prior-year effect of a change in accounting
Cumulative Translation Adjustment (CTA) account
An entry in a translated balance sheet in which gains
Refers to establishing and liquidating the same position or positions within one day's trading.
Dead cat bounce
A small upmove in a bear market.
Dead Peasants Insurance
Also known as "Dead Janitors Insurance", this is the practice, where allowed, in several U.S. states, of numerous well known large American Corporations taking out corporate owned life insurance policies on millions of their regular employees, often without the knowledge or consent of those employees. Corporations profiting from the deaths of their employees [and sometimes ex-employees] have attracted adverse publicity because ultimate death benefits are seldom, even partially passed down to surviving families.
advertising designed to elicit sales to customers who can be
A classic negative change in ratings for a stock, and or other rated security.
EBBS - Earnings before the bad stuff
An acronym attributed to a member of the Securities and
Economic Value Added (EVA)
Operating profit, adjusted to remove distortions caused by certain accounting rules, less a charge
economic value added (EVA)
a measure of the extent to which income exceeds the dollar cost of capital; calculated
economic value added (EVA)
Term used by the consulting firm Stern Stewart for profit remaining after deduction of the cost
The gross underwriting spread adjusted for the impact of the announcement of the common
All the costs incurred during the manufacturing process, minus the
That portion of total overhead costs which remains constant in size
fixed overhead spending variance
the difference between the total actual fixed overhead and budgeted fixed overhead;
fixed overhead volume variance
see volume variance
1) A bond in default trades flat; that is, the price quoted covers both principal and unpaid,
A member who generally trades only for his own account, for an account controlled by him or
A transaction in which the settlement will occur on a specified date in the future at a price
The absence of any government restrictions, such as tariffs or quotas, on imports or exports.
What was spent to run the non-sales and non-manufacturing part of a company, such as office salaries and interest paid on loans.
grade (of product or service)
the addition or removal of product
A policy of decreasing the rate of growth of the money supply gradually over an extended period of time, so that inflation can adjust with smaller unemployment cost. Contrast with cold-turkey policy.
Graduated-payment mortgages (GPMs)
A type of stepped-payment loan in which the borrower's payments
The fraction of the gross proceeds of an underwritten securities offering that is paid as
Head & shoulders
In technical analysis, a chart formation in which a stock price reaches a peak and declines,
Sale of some shares of stock to get cash that would be similar to receiving a cash dividend.
Idea that as long as individuals borrow (or lend) on the same terms as the firm, they can
The simultaneous purchase and sale of two options that differ only in their exercise date.
Trades in which an investor believes he or she possesses pertinent
Trades that are the result of either a reallocation of wealth or an implementation of an
Trading by officers, directors, major stockholders, or others who hold private inside
Intermarket spread swaps
An exchange of one bond for another based on the manager's projection of a
Intramarket sector spread
The spread between two issues of the same maturity within a market sector. For
A transaction used to adjust the book balance of an inventory
Bonds rated Baa or above by Moody’s or BBB or above by Standard & Poor’s.
Investment grade bonds
A bond that is assigned a rating in the top four categories by commercial credit
judgmental method (of risk adjustment)
an informal method of adjusting for risk that allows the decision maker
A bond portfolio strategy in which the portfolio is constructed to have approximately equal
Last trading day
The final day under an exchange's rules during which trading may take place in a particular
Payment of a financial obligation earlier than is expected or required.
The commercial or investment bank with the primary responsibility for organizing syndicated
see cycle time
Leading economic indicators
Economic series that tend to rise or fall in advance of the rest of the economy.
A variable that reaches a turning point (a peak or a trough) before the economy reaches a turning point.
A mutual fund with shares sold at a price including a large sales charge -- typically 4% to 8% of
Arrangement whereby the customer pays for the last delivery when the next one is received.
Loads are sales fees (or commissions) that are charged when you buy a mutual fund.
A straddle in which a long position is taken in both a put and call option.
a business (typically U.S.-owned on the Mexican
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