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Definition of Direct Deposit
The direct transfer of payroll funds from the company bank account
A system where funds are electronically credited to your account by a financial institution or a payroll service. For example, you can arrange with your employer to have your pay cheques automatically deposited into your no fee bank account.
A system where funds are electronically credited to your account by a financial institution or a payroll service.
Funds which are electronically credited to your account (e.g. direct deposit), or electronically debited from your account on an ongoing basis (e.g. a pre-authorized monthly bill payment, or a monthly loan or mortgage payment). A wire transfer is a form of EFT.
Certificates issued by a U.S. depositary bank, representing foreign
Also called a time deposit, this is a certificate issued by a bank or thrift that
Checking accounts that pay no interest and can be withdrawn upon demand.
Check made out directly by a local bank to a particular firm or person.
DTC is a user-owned securities depository which accepts deposits of
A method of cash budgeting based on detailed estimates of cash receipts and cash
Lease in which the lessor purchases new equipment from the manufacturer and leases it to the
Commercial paper sold directly by the issuer to investors.
Selling a new issue not by offering it for sale publicly, but by placing it with one of several
For foreign exchange, the number of U.S. dollars needed to buy one unit of a foreign currency.
Buyers and sellers seek each other directly and transact directly.
The purchase by investors of securities directly from the issuer.
The transfer of funds between bank accounts through the Automated
A short-term fixed rate time deposit denominated in a currency other than the local
Federal Deposit Insurance Corporation (FDIC)
A federal institution that insures bank deposits.
Foreign direct investment (FDI)
The acquisition abroad of physical assets such as plant and equipment, with
For foreign exchange, the number of units of a foreign currency needed to buy one U.S.$.
International Depository Receipt (IDR)
A receipt issued by a bank as evidence of ownership of one or more
A book-entry depository for GNMA securities. The depository was initially operated by
Negotiated certificate of deposit
A large-denomination CD, generally $1MM or more, that can be sold but
Accounts that pay interest, typically at below-market interest rates, that do not have a
Security deposit (initial)
Synonymous with the term margin. A cash amount of funds that must be deposited
Security deposit (maintenance)
Related: Maintenance margin security market line (SML). A description of
Interest-bearing deposit at a savings institution that has a specific maturity.
Costs that are readily traceable to particular products or services.
Costs that are necessary to produce a product/service but are not readily traceable to particular products or services – see overhead.
A method of preparing the operating section of the Statement of Cash Flows that uses the company’s actual cash inflows and cash outflows.
Direct write-off method
A method of adjusting accounts receivable to the amount that is expected to be collected by eliminating the account balances of specific nonpaying customers.
A method of preparing the operating section of the Statement of Cash Flows that does not use the company’s actual cash inflows and cash outflows, but instead arrives at the net cash flow by taking net income and adjusting it for noncash expenses and the changes from last year in the current assets and current liabilities.
a cost that is distinctly traceable to a particular cost object
see variable costing
the time spent by individuals who work specifically
a readily identifiable part of a product; the cost of such a part
a service department cost allocation approach
a cost that cannot be traced explicitly to a particular
A cost that can be clearly associated with specific activities or products.
A costing methodology that only assigns direct labor and material costs
Labor that is specifically incurred to create a product.
Direct materials cost
The cost of all materials used in a cost object, such as finished goods.
Direct materials mix variance
The variance between the budgeted and actual mixes of
A member of a company’s Board of directors.
A cost that is not directly associated with a single activity or event. Such
The cost of any labor that supports the production process, but which is
Certificate of Deposit (CD)
A bank deposit that cannot be withdrawn for a specified period of time. See also term deposit.
A bank deposit that can be withdrawn on demand, such as a deposit in a checking account.
The process whereby the banking system transforms a dollar of reserves into several dollars of money supply.
Central bank switching of government deposits between the central bank and commercial banks.
Taxes paid by consumers when they buy goods and services. A sales tax is an example.
Multiple Deposit Creation
The process whereby the money multiplier operates.
See term deposit.
An interest-earning bank deposit that cannot be withdrawn without penalty until a specific time.
See term deposit.
A format for the operating section of the cash-flow statement that reports actual cash receipts and cash disbursements from operating activities.
Advertising designed to elicit sales to customers who can be
A format for the operating section of the cash-flow statement that
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.
Interac® Direct Payment
Instead of paying with cash or a credit card, Interac direct Payment allows you to pay for your purchase with a debit card, such as your bank card. The amount of the purchase is electronically debited, or withdrawn, from your bank account (see debit card).
A collection and processing service provided to firms by banks, which collect payments from a
In the balance of payments, other capital is a residual category that groups all the capital
Automated Clearing House (ACH)
A banking clearinghouse that processes direct
A credit card into which a company directly deposits an employee's net pay.
Spousal Registered Retirement Savings Plan
This is an RRSP owned by the spouse of the person contributing to it. The contributor can direct up to 100% of eligible RRSP deposits into a spousal RRSP each and every year. Contributing to a spouses RRSP reduces the amount one can contribute to one's own RRSP, however, if the spouse is a lower income earner, it is an excellent way in which to split income for lower taxation in retirement years.
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