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Definition of downsizing
any management action that reduces employment
the combined discounts for lack of control and marketability. g the constant growth rate in cash flows or net income used in the ADF, Gordon model, or present value factor.
Also called surplus management, the task of managing funds of a financial
Large and creditworthy company.
A management style that de-emphasizes the significance of economic
A firm's net cash inflow resulting directly from its regular operations
Very short maturity bills that the Treasury occasionally sells because its cash
A transaction where exchange is immediate, as contrasted to a forward contract, which
The percentage of a given month's sales collected during the month of sale and each
Related: Unsystematic risk
A securities offering process in which securities firms submit competing bids to the
An offering of securities through competitive bidding.
The application of financial principals within a corporation to create and
Arrangement whereby the shareholders of a project receive output free of
The periodic interest payment made to the bondholders during the life of the bond.
True interest cost expressed on the basis of a 365-day year.
A bond's interest payments.
In bonds, notes or other fixed income securities, the stated percentage rate of interest, usually
A bond selling at or close to par, that is, a bond with a coupon close to the yields currently
Related: Benchmark issues
Depository Trust Company (DTC)
DTC is a user-owned securities depository which accepts deposits of
Dupont system of financial control
Highlights the fact that return on assets (ROA) can be expressed in terms
Full coupon bond
A bond with a coupon equal to the going market rate, thereby, the bond is selling at par.
Funds From Operations (FFO)
Used by real estate and other investment trusts to define the cash flow from
Publicly owned stock in a firm is replaced with complete equity ownership by a
High-coupon bond refunding
Refunding of a high-coupon bond with a new, lower coupon bond.
Highly leveraged transaction (HLT)
Bank loan to a highly leveraged firm.
A corporation that owns enough voting stock in another firm to control management and
Income statement (statement of operations)
A statement showing the revenues, expenses, and income (the
Loan made by one unit of a corporation to another unit of the same corporation.
Transaction carried out between two units of the same corporation.
Lag response of prepayments
There is typically a lag of about three months between the time the weighted
Bond with a stream of coupon payments that are the same throughout the life of the bond.
1) Bonds or notes with a long current maturity.
Low-coupon bond refunding
Refunding of a low coupon bond with a new, higher coupon bond.
1) Bonds or notes with a long current maturity.
Management/closely held shares
Percentage of shares held by persons closely related to a company, as
Management buyout (MBO)
Leveraged buyout whereby the acquiring group is led by the firm's management.
An investment advisory fee charged by the financial advisor to a fund based on the fund's
Related: Investment management.
In a Treasury auction, bidding for a specific amount of securities at the price, whatever it
The supposition that investors overreact to unanticipated news, resulting in
Pass-through coupon rate
The interest rate paid on a securitized pool of assets, which is less than the rate
Passive investment management
Buying a well-diversified portfolio to represent a broad-based market
Perfectly competitive financial markets
Markets in which no trader has the power to change the price of
Related: Investment management
A decline in prices following an advance. Opposite of rally.
Receivables balance fractions
The percentage of a month's sales that remain uncollected (and part of
The process of identifying and evaluating risks and selecting and managing techniques to
Round-trip transactions costs
Costs of completing a transaction, including commissions, market impact
Structured arbitrage transaction
A self-funding, self-hedged series of transactions that usually utilize
Related: asset management
any transaction that is not tax-free to the parties involved, such as a taxable acquisition.
Top-down equity management style
A management style that begins with an assessment of the overall
Risk to a firm with known future cash flows in a foreign currency that arises from
The time, effort, and money necessary, including such things as commission fees and the
A loan extended by a bank for a specific purpose. In contrast, lines of credit and revolving
Transaction demand (for money)
The need to accommodate a firm's expected cash transactions.
A desire to hold cash for the purpose of conducting cash based transactions.
The ratio of the number of people classified as unemployed to the total labor force.
Weighted average coupon
The weighted average of the gross interest rate of the mortgages underlying the
Working capital management
The management of current assets and current liabilities to maximize shortterm liquidity.
Zero coupon bond
Such a debt security pays an investor no interest. It is sold at a discount to its face price
A bond in which no periodic coupon is paid over the life of the contract. Instead, both the
CASH FLOWS FROM OPERATIONS
A section on the cash-flow Stockholders’ equity statement that shows how much cash came into a company and how much went out during the normal course of business.
The production of financial and non-financial information used in planning for the future; making decisions about products, services, prices and what costs to incur; and ensuring that plans are implemented and achieved.
Strategic management accounting
The provision and analysis of management accounting data about a business and its competitors, which is of use in the development and monitoring of strategy (Simmonds).
The financial description of a business event.
A variety of approaches that emphasize increasing shareholder value as the primary goal of every business.
This is difficult to define in a few words—indeed, an
See asset-specific risk
Coupon / Coupons
The periodic interest payment(s) made by the issuer of a bond
The rate of interest paid on a debt security. Generally stated on an
A security that makes no interest payments; it is sold at a discount
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
Certified Management Accountant (CMA)
a professional designation in the area of management accounting that
cost management system (CMS)
a set of formal methods
Institute of Management Accountants (IMA)
an organization composed of individuals interested in the field of management accounting; it coordinates the Certified management
limited liability company
an organizational form that is a hybrid of the corporate and partnership organizational
a discipline that includes almost
Management Accounting Guidelines (MAGs)
pronouncements of the Society of management Accountants of
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
the preference of a manager in how he/she interacts with other stakeholders in the organization;
a philosophy about increasing a firm’s performance by involving all workers and by ensuring
operations flow document
a document listing all operations
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
an individual or firm engaged in a high or moderate degree of conversion that results in service output
Society of Management Accountants of Canada
the professional body representing an influential and diverse
Statement on Management Accounting (SMA)
a pronouncement developed and issued by the management
strategic resource management
organizational planning for the deployment of resources to create value for customers and shareholders; key varibles in the process include the management of information and the management of change in response to threats and opportunities
the cooperative strategic planning,
the use of all techniques that help an organization achieve its goals
total quality management (TQM)
a structural system for creating organization-wide participation in planning and implementing a continuous improvement process that exceeds
Detachable certificate attached to a bond that shows the amount of
The dates when the coupons are paid. Typically a bond pays
The nominal interest rate that the issuer promises to pay the
Zero curve, zero-coupon yield curve
A yield curve for zero-coupon bonds;
Zero-coupon bond, or Zero
A bond that, instead of carrying a coupon, is sold
A company that retains control over one or more other companies.
A company that is controlled by another company through ownership
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