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Definition of Articulation
When numbers from different financial statements relate to one another.
Abramsâ€™ model for calculating DLOM based on the interaction of discounts from four economic components.
Requirement that none of an order be executed unless all of it can be executed at the specified price.
An arrangement whereby a security issue is canceled if the underwriter is unable
An option is at-the-money if the strike price of the option is equal to the market price of the
Also called the broker loan rate , the interest rate that banks charge brokers to finance
Sources of funds internally provided from operations that alter a company's
The application of financial principals within a corporation to create and
financial planning conducted by a firm that encompasses preparation of both
The ability of the national economy to generate enough foreign exchange to meet
The practice of reporting conflicting or markedly different information in official
Swap between two LIBO rates of interest, e.g. yen LIBOR for dollar LIBOR. Payments are
This is the best known U.S.index of stocks. It contains 30 stocks that trade on
Highlights the fact that return on assets (ROA) can be expressed in terms
An exchange arrangement formed in 1979 that involves the currencies
Arms of the federal government that are exempt from SEC registration and
Also called securities analysts and investment analysts, professionals who analyze
Claims on real assets.
The management of a firm's costs and expenses in order to control them in relation to
Events preceding and including bankruptcy, such as violation of loan contracts.
Financial distress costs
Legal and administrative costs of liquidation or reorganization. Also includes
Combining or dividing existing instruments to create new financial products.
A contract entered into now that provides for the delivery of a specified asset in exchange
Institutions that provide the market function of matching borrowers and lenders or
Long-term, non-cancelable lease.
Use of debt to increase the expected return on equity. financial leverage is measured by
Financial leverage clientele
A group of investors who have a preference for investing in firms that adhere to
Financial leverage ratios
related: capitalization ratios.
An organized institutional structure or mechanism for creating and exchanging financial assets.
Objectives of a financial nature that the firm will strive to accomplish during the period
A financial blueprint for the financial future of a firm.
The process of evaluating the investing and financing options available to a firm. It
That portion of the media devoted to reporting financial news.
The result of dividing one financial statement item by another. Ratios help analysts interpret
The risk that the cash flow of an issuer will not be adequate to meet its financial obligations.
Annualized percentage difference between spot and forward rates.
Money that moves across country borders in response to interest rate differences and that moves
International Monetary Fund
An organization founded in 1944 to oversee exchange arrangements of
International Monetary Market (IMM)
A division of the CME established in 1972 for trading financial
A put option that has a strike price higher than the underlying futures price, or a call option
Law of large numbers
The mean of a random sample approaches the mean (expected value) of the
Law of one price
An economic rule stating that a given security must have the same price regardless of the
London International Financial Futures Exchange (LIFFE)
A London exchange where Eurodollar futures
Long-term financial plan
financial plan covering two or more years of future operations.
London International Financial Futures Exchange (LIFFE)
London exchange where Eurodollar futures as well as futures-style options are traded.
Gold held by governmental authorities as a financial asset.
Actions taken by the Board of Governors of the Federal Reserve System to influence the
Monetary / non-monetary method
Under this translation method, monetary items (e.g. cash, accounts
Composed of currency and coins outside the banking system plus liabilities to the deposit money banks.
Money center banks
Banks that raise most of their funds from the domestic and international money markets, relying less on depositors for funds.
related: Investment management.
related: Investment manager.
Money markets are for borrowing and lending money for three years or less. The securities in
Money market demand account
An account that pays interest based on short-term interest rates.
Money market fund
A mutual fund that invests only in short term securities, such as bankers' acceptances,
Money market hedge
The use of borrowing and lending transactions in foreign currencies to lock in the
Money market notes
Publicly traded issues that may be collateralized by mortgages and MBSs.
Money purchase plan
A defined benefit contribution plan in which the participant contributes some part and
Money rate of return
Annual money return as a percentage of asset value.
M1-A: Currency plus demand deposits
In a Treasury auction, the amount by which the par value of the securities offered exceeds that of
Include such things as freight, insurance, passenger services, and travel.
Notes to the financial statements
A detailed set of notes immediately following the financial statements in
One man picture
The picture quoted by a broker is said to be a one-man picture if both the bid and offered
A special case of the arbitrage pricing theory that is derived from the one-factor model by
1) A market in which only one side, the bid or asked, is quoted or firm.
A call option is out-of-the-money if the strike price is greater than the market price
Perfectly competitive financial markets
Markets in which no trader has the power to change the price of
In mutual funds, the ability to transfer shares between funds in the same family by
The option of postponing a project without eliminating the possibility of undertaking it.
Precautionary demand (for money)
The need to meet unexpected or extraordinary contingencies with a
Pro forma financial statements
financial statements as adjusted to reflect a projected or planned transaction.
Willing to pay money to transfer risk from others.
Extended credit for customers who order goods in periods other than peak seasons.
Issue of a security for which there is an existing market. related: Unseasoned issue.
Seasoned new issue
A new issue of stock after the company's securities have previously been issued. A
Short-term financial plan
A financial plan that covers the coming fiscal year.
SIMEX (Singapore International Monetary Exchange)
A leading futures and options exchange in Singapore.
Society for Worldwide Interbank Financial Telecommunications (SWIFT)
A dedicated computer network to support funds transfer messages internationally between over 900 member banks worldwide.
Speculative demand (for money)
The need for cash to take advantage of investment opportunities that may arise.
Investment principle that states a firm should accept or reject a project by comparing it
Statement of Financial Accounting Standards No. 8
This is a currency translation standard previously in
Statement of Financial Accounting Standards No. 52
This is the currency translation standard currently
Target zone arrangement
A monetary system under which countries pledge to maintain their exchange rates
Tax differential view ( of dividend policy)
The view that shareholders prefer capital gains over dividends,
Time value of money
The idea that a dollar today is worth more than a dollar in the future, because the dollar
Advertisement listing the underwriters to a security issue.
Transaction demand (for money)
The need to accommodate a firm's expected cash transactions.
Issue of a security for which there is no existing market. See: seasoned issue.
Zero-one integer programming
An analytical method that can be used to determine the solution to a capital
The production of financial statements, primarily for those interested parties who are external to the business.
Financial reports or statements
The Profit and Loss account, Balance Sheet and Cash Flow statement of a business.
The accounting period adopted by a business for the production of its financial statements.
statement of financial condition
See balance sheet.
The equity (ownership) capital of a business can serve
financial reports and statements
financial means having to do with
A market that specializes in trading short-term, low-risk, very liquid
a cost that differs in amount among the alternatives being considered
a technique for avoiding competition by distinguishing a product or service from that of competitors through adding sufficient value (including quality and/or features) that customers are willing to pay
a discipline in which historical, monetary
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