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Financial Terms | |
concurrent engineering |
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Definition of concurrent engineeringconcurrent engineeringsee simultaneous engineering
Related Terms:business process reengineering (BPR)the process of combining information technology to create new and more effective Engineering changeA change to a product’s specifications as issued by the engineering engineering change order (ECO)a business mandate that changes the way in which a product is manufactured or a Financial engineeringCombining or dividing existing instruments to create new financial products. simultaneous engineeringan integrated approach in which value engineeringa disciplined search for various feasible Accounting changeAn alteration in the accounting methodology or estimates used in ![]() American Stock Exchange (AMEX)The second-largest stock exchange in the United States. It trades Basic business strategiesKey strategies a firm intends to pursue in carrying out its business plan. Bill of exchangeGeneral term for a document demanding payment. Business cycleRepetitive cycles of economic expansion and recession. Business CycleFluctuations of GDP around its long-run trend, consisting of recession, trough, expansion, and peak. Business Expansion InvestmentThe use of capital to create more money through the addition of fixed assets or through income producing vehicles. Business failureA business that has terminated with a loss to creditors. business intelligence (BI) systema formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about Business riskThe risk that the cash flow of an issuer will be impaired because of adverse economic ![]() business-value-added activityan activity that is necessary for the operation of the business but for which a customer would not want to pay Change in Accounting EstimateA change in accounting that occurs as the result of new information Change in Accounting EstimateA change in the implementation of an existing accounting Change in Accounting PrincipleA change from one generally accepted accounting principle to another generally accepted accounting principle—for example, a change from capitalizing expenditures Change in Reporting EntityA change in the scope of the entities included in a set of, typically, consolidated financial statements. Changes in Financial PositionSources of funds internally provided from operations that alter a company's Chicago Mercantile Exchange (CME)A not-for-profit corporation owned by its members. Its primary Commercial Business Loan (Credit Insurance)An agreement between a creditor and a borrower, where the creditor has loaned an amount to the borrower for business purposes. Commodities Exchange Center (CEC)The location of five New York futures exchanges: Commodity Convertible exchangeable preferred stockConvertible preferred stock that may be exchanged, at the Corporate processing floatThe time that elapses between receipt of payment from a customer and the ![]() cost-benefit analysis the analytical process of comparing therelative costs and benefits that result from a specific course Cumulative Effect of a Change in Accounting PrincipleThe change in earnings of previous years Cumulative Effect of Accounting ChangeThe change in earnings of previous years assuming Diffusion processA conception of the way a stock's price changes that assumes that the price takes on all Effective Exchange RateThe weighted average of several exchange rates, where the weights are determined by the extent of our trade done with each country. Electronic data interchange (EDI)The exchange of information electronically, directly from one firm's electronic data interchange (EDI)the computer-to-computer transfer of information in virtual real time using standardized formats developed by the American National Standards Institute Embodied Technical ChangeTechnical change that can be used only when new capital embodying this technical change is produced. engineering change order (ECO)a business mandate that changes the way in which a product is manufactured or a Equation of ExchangeThe quantity theory equation Mv = PQ. ExchangeThe marketplace in which shares, options and futures on stocks, bonds, commodities and indices Exchange controlsGovernmental restrictions on the purchase of foreign currencies by domestic citizens or Exchange of assetsAcquisition of another company by purchase of its assets in exchange for cash or stock. Exchange of stockAcquisition of another company by purchase of its stock in exchange for cash or shares. Exchange offerAn offer by the firm to give one security, such as a bond or preferred stock, in exchange for Exchange rateThe price of one country's currency expressed in another country's currency. exchange rateAmount of one currency needed to purchase one unit of another. Exchange Rate Mechanism (ERM)The methodology by which members of the EMS maintain their Exchange Rate, NominalThe price of one currency in terms of another, in this book defined as number of units of foreign currency per dollar. Exchange Rate, RealThe nominal exchange rate corrected for price level differences. Exchange rate riskAlso called currency risk, the risk of an investment's value changing because of currency Exchange riskThe variability of a firm's value that results from unexpected exchange rate changes or the Exchangeable SecuritySecurity that grants the security holder the right to exchange the security for the expectations theory of exchange ratesTheory that expected spot exchange rate equals the forward rate. FIFO method (of process costing)the method of cost assignment that computes an average cost per equivalent Fixed-exchange rateA country's decision to tie the value of its currency to another country's currency, gold Fixed Exchange RateAn exchange rate held constant by a government promise to buy or sell dollars at the fixed rate on the foreign exchange market. Flexible Exchange RateAn exchange rate whose value is determined by the forces of supply and demand on the foreign exchange market. Floating exchange rateA country's decision to allow its currency value to freely change. The currency is not Floating Exchange RateSee flexible exchange rate. Foreign exchangeCurrency from another country. Foreign ExchangeThe currency of a foreign country. Foreign exchange controlsVarious forms of controls imposed by a government on the purchase/sale of Foreign exchange dealerA firm or individual that buys foreign exchange from one party and then sells it to Foreign Exchange MarketA worldwide market in which one country's currency is bought or sold in exchange for another country's currency. Foreign Exchange ReservesA fund containing the central bank's holdings of foreign currency or claims thereon. Foreign exchange riskThe risk that a long or short position in a foreign currency might have to be closed out Foreign exchange swapAn agreement to exchange stipulated amounts of one currency for another currency Forward Exchange MarketA market in which foreign exchange can be bought or sold for delivery (and payment) at some specified future date but at a price agreed upon now. Forward exchange rateExchange rate fixed today for exchanging currency at some future date. forward rate of exchangeExchange rate for a forward transaction. Gold exchange standardA system of fixing exchange rates adopted in the Bretton Woods agreement. It High-Risk Small BusinessFirm viewed as being particularly subject to risk from an investors perspective. Historical exchange rateAn accounting term that refers to the exchange rate in effect when an asset or In-house processing floatRefers to the time it takes the receiver of a check to process the payment and Internet business modela model that involves Ito processStatistical assumptions about the behavior of security prices. For joint processa manufacturing process that simultaneously London International Financial Futures Exchange (LIFFE)A London exchange where Eurodollar futures London International Financial Futures Exchange (LIFFE)London exchange where Eurodollar futures as well as futures-style options are traded. Medium of ExchangeAny item that can be commonly exchanged for goods and services. modified FIFO method (of process costing)the method of cost assignment that uses FIFO to compute a cost per multiprocess handlingthe ability of a worker to monitor Net changeThis is the difference between a day's last trade and the previous day's last trade. New York Stock Exchange (NYSE)Also known as the Big Board or The Exhange. More than 2,00 common Nominal exchange rateThe actual foreign exchange quotation in contrast to the real exchange rate that has operating risk (business risk)Risk in firm’s operating income. Organized exchangeA securities marketplace wherein purchasers and sellers regularly gather to trade Philadelphia Stock Exchange (PHLX)A securities exchange where American and European foreign Political Business CycleA business cycle caused by policies undertaken to help a government be re-elected. Price discovery processThe process of determining the prices of the assets in the marketplace through the ProcessA series of linked activities that result in a specific objective. For example, the process benchmarkingbenchmarking that focuses on practices and how the best-in-class companies achieved their results process complexityan assessment about the number of processes through which a product flows Process costingA method of costing for continuous manufacture in which costs for an accounting compared are compared with production for the same period to determine a cost per unit produced. Process costingA costing methodology that arrives at an individual product cost through the calculation of average costs for large quantities of identical products. process costing systema method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products; Process flow productionA production configuration in which products are continually process mapa flowchart or diagram indicating every step process productivitythe total units produced during a period process quality yieldthe proportion of good units that resulted from the activities expended processing timethe actual time consumed performing the product- (or process-) level costa cost that is caused by the development, production, or acquisition of specific products or services Purchased In-Process Research and DevelopmentUnfinished research and development that is acquired from another firm. Real Business Cycle TheoryBelief that business cycles arise from real shocks to the economy, such as technology advances and natural resource discoveries, and have little to do with monetary policy. Real Exchange RateExchange rate adjusted for relative price levels. Real exchange ratesExchange rates that have been adjusted for the inflation differential between two countries. Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |