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Financial Terms | |
Consumer Credit Protection Act |
Information about financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.
Main Page: tax advisor, credit, investment, business, payroll, inventory control, inventory, money, Also see related: insurance, home buyer, property, homebuying, buy home, condo, homebuyer, home insurance, first time homebuyer, |
Definition of Consumer Credit Protection ActConsumer Credit Protection ActA federal act specifying the proportion of
Related Terms:Accidental Dismemberment: (Credit Insurance)Provides additional financial security should an insured person be dismembered or lose the use of a limb as the result of an accident. Act of state doctrineThis doctrine says that a nation is sovereign within its own borders and its domestic ActiveA market in which there is much trading. Active portfolio strategyA strategy that uses available information and forecasting techniques to seek a activitya repetitive action performed in fulfillment of business functions activity analysisthe process of detailing the various repetitive actions that are performed in making a product or Activity-based budgetingA method of budgeting that develops budgets based on expected activities and cost drivers – see also activity-based costing. ![]() activity-based budgeting (ABB)planning approach applying activity drivers to estimate the levels and costs of activities necessary to provide the budgeted quantity and Activity-based costingA method of costing that uses cost pools to accumulate the cost of significant business activities and then assigns the costs from the cost pools to products or services based on cost drivers. activity based costing (ABC)A relatively new method advocated for the activity-based costing (ABC)a process using multiple cost drivers to predict and allocate costs to products and services; Activity-based costing (ABC)A cost allocation system that compiles costs and assigns activity-based management (ABM)a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received activity centera segment of the production or service activity drivera measure of the demands on activities and, Actual costThe actual expenditure made to acquire an asset, which includes the supplierinvoiced ![]() actual cost systema valuation method that uses actual direct ActualsThe physical commodity underlying a futures contract. Cash commodity, physical. ActuaryOne who uses statistical information to evaluate the probability of future events and prices insurance products. ADF (annuity discount factor)the present value of a finite stream of cash flows for every beginning $1 of cash flow. Allocation base A measure of activity or volume such as labourhours, machine hours or volume of production Amortization (Credit Insurance)Refers to the reduction of debt by regular payments of interest and principal in order to pay off a loan by maturity. Amortization factorThe pool factor implied by the scheduled amortization assuming no prepayemts. Annuity factorPresent value of $1 paid for each of t periods. annuity factorPresent value of an annuity of $1 per period. Asset activity ratiosRatios that measure how effectively the firm is managing its assets. Beneficiary (Credit Insurance)The person or party designated to receive proceeds entitled by a benefit. Payment of a benefit is triggered by an event. In the case of credit insurance, the beneficiary will always be the creditor. ![]() Best-interests-of-creditors testThe requirement that a claim holder voting against a plan of reorganization Bill and Hold PracticesProducts that have been sold with an explicit agreement that delivery Borrower (Credit Insurance)A consumer who borrows money from a lender. Bullet contractA guaranteed investment contract purchased with a single (one-shot) premium. Related: business-value-added activityan activity that is necessary for the operation of the business but for which a customer would not want to pay Call protectionA feature of some callable bonds that establishes an initial period when the bonds may not be cash flow from operating activities, or cash flow from profitThis equals the cash inflow from sales during the period minus the cash Cash Flow Provided by Operating ActivitiesWith some exceptions, the cash effects of transactions Cash Flow Provided or Used from Financing ActivitiesCash receipts and payments involving Cash Flow Provided or Used from Investing ActivitiesCash receipts and payments involving CASH FLOWS FROM FINANCING ACTIVITIESA section on the cash-flow statement that shows how much cash a company raised by selling stocks or bonds this year and how much was paid out for cash dividends and other finance-related obligations. CASH FLOWS FROM INVESTING ACTIVITIESA section on the cashflow statement that shows how much cash came in and went out because of various investing activities like purchasing machinery. Cash settlement contractsFutures contracts, such as stock index futures, that settle for cash, not involving Cash transactionA transaction where exchange is immediate, as contrasted to a forward contract, which Characteristic lineThe market model applied to a single security. The slope of the line is a security's beta. Collection fractionsThe percentage of a given month's sales collected during the month of sale and each 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. Comparative credit analysisA method of analysis in which a firm is compared to others that have a desired Completed-Contract MethodA contract accounting method that recognizes contract revenue computer-aided manufacturing (CAM)the use of computers to control production processes through numerically computer integrated manufacturing (CIM)the integration of two or more flexible manufacturing systems through the use of a host computer and an information networking system Conditional sales contractsSimilar to equipment trust certificates except that the lender is either the Consolidated Omnibus Budget Reconciliation Act (COBRA)A federal act Consumer creditcredit granted by a firm to consumers for the purchase of goods or services. Also called Consumer Price Index (CPI)The CPI, as it is called, measures the prices of consumer goods and services and is a Consumer Price Index (CPI)An index calculated by tracking the cost of a typical bundle of consumer goods and services over time. It is commonly used to measure inflation. ContractA term of reference describing a unit of trading for a financial or commodity future. Also, the actual ContractA formal written statement of the rights and obligations of each party to a transaction. Contract AccountingMethod of accounting for sales or service agreements where completion contract manufactureran external party that has been granted an outsourcing contract to produce a part or component for an entity Contract monthThe month in which futures contracts may be satisfied by making or accepting a delivery. contract vendoran external party that has been granted an Contract Work Hours and Safety Standards ActA federal act requiring federal contractors to pay overtime for hours worked exceeding 40 per week. Conversion factorsRules set by the Chicago Board of Trade for determining the invoice price of each cost of goods manufactured (CGM)the total cost of the Cost of manufactureThe cost of goods manufactured for subsequent sale. cost-plus contracta contract in which the customer agrees Creative Accounting PracticesAny and all steps used to play the financial numbers game, including CreditMoney loaned. CreditBuying or selling goods or services now with the intention of payment following at some time in CreditOne side of a journal entry, usually depicted as the right side. CreditA rating of a company's credit (ability to payback debt), usually by a third party credit agency. creditOn your bank statement, 'credit' represents funds that you have deposited into your account. The opposite of a credit is a debit. Credit analysisThe process of analyzing information on companies and bond issues in order to estimate the credit analysisProcedure to determine the likelihood a customer will pay its bills. credit bureauAn organization that provides financial institutions with credit information concerning existing or potential customers who are looking to obtain credit services. credit cardA revolving source of credit with a pre-established limit. You have to pay interest on a credit card if you have an outstanding balance. Credit CrunchA decline in the ability or willingness of banks to lend. Credit enhancementPurchase of the financial guarantee of a large insurance company to raise funds. Credit LossA loan receivable that has proven uncollectible and is written off. credit memoA record of the funds which have been credited to your account. Credit periodThe length of time for which the customer is granted credit. credit policyStandards set to determine the amount and nature of credit to extend to customers. Credit RationingRestriction of loans by lenders so that not all borrowers willing to pay the current interest rate are able to obtain loans. Credit riskThe risk that an issuer of debt securities or a borrower may default on his obligations, or that the Credit RiskFinancial and moral risk that an obligation will not be paid and a loss will result. Credit scoringA statistical technique wherein several financial characteristics are combined to form a single Credit spreadRelated:Quality spread Credit TermsConditions under which credit is extended by a lender to a borrower. Credit Unioncredit unions are community based financial co-operatives and most offer a full range of services. All are owned and controlled by members who are also shareholders. credit unions are regulated provincially and insured by a stabilization fund, deposit insurance or guarantee corporation. Crediting rateThe interest rate offered on an investment type insurance policy. CreditorLender of money. CreditorPerson or business that is owed money. Creditor (Credit Insurance)A lender or lending institution that offers financing and loans to a borrower, for the purpose of acquiring a commodity. Creditor Proof ProtectionThe creditor proof status of such things as life insurance, non-registered life insurance investments, life insurance RRSPs and life insurance RRIFs make these attractive products for high net worth individuals, professionals and business owners who may have creditor concerns. Under most circumstances the creditor proof rules of the different provincial insurance acts take priority over the federal bankruptcy rules. CreditorsPurchases of goods or services from suppliers on credit to whom the debt is not yet paid. Or a Critical Illness Insurance (Credit Insurance)Coverage that provides a lump-sum payment should you become seriously ill with a specified illness. The payment is made to your creditors to pay off your debt owing. critical success factors (CSF)any item (such as quality, customer Current Tax Payment Act of 1943A federal act requiring employers to withhold income taxes from employee pay. Davis-Bacon Act of 1931A federal act providing wage protection to nongovernment De factoExisting in actual fact although not by official recognition. Debt (Credit Insurance)Money, goods or services that someone is obligated to pay someone else in accordance with an expressed or implied agreement. Debt may or may not be secured. Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |