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employee time sheet

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Definition of employee time sheet

Employee Time Sheet Image 1

employee time sheet

a source document that indicates, for each employee, what jobs were worked on during the day and for what amount of time



Related Terms:

Balance sheet

Also called the statement of financial condition, it is a summary of the assets, liabilities, and
owners' equity.


BALANCE SHEET

A “snapshot” statement that freezes a company on a particular day, like the last day of the year, and shows the balances in its asset, liability, and stockholders’ equity accounts. It’s governed by the formula:
Assets = Liabilities + Stockholders’ Equity.


Balance Sheet

A financial statement showing the financial position of a business – its assets, liabilities and
capital – at the end of an accounting period.


Balance Sheet

One of the basic financial statements; it lists the assets, liabilities, and equity accounts of the company. The Balance sheet is prepared using the balances at the end of a specific day.


balance sheet

A term often used instead of the more formal and correct
term—statement of financial condition. This financial statement summarizes
the assets, liabilities, and owners’ equity sources of a business at a
given moment in time. It is prepared at the end of each profit period and
whenever else it is needed. It is one of the three primary financial statements
of a business, the other two being the income statement and the
statement of cash flows. The values reported in the balance sheet are the
amounts used to determine book value per share of capital stock. Also,
the book value of an asset is the amount reported in a business’s most
recent balance sheet.



Balance sheet

A report that summarizes all assets, liabilities, and equity for a company
for a given point in time.


balance sheet

Financial statement that shows the value of the
firm’s assets and liabilities at a particular time.


Employee Time Sheet Image 2

Balance Sheet

A financial report showing the status of a company's assets, liabilities, and owners' equity on a given date.


Balance sheet exposure

See:accounting exposure.


Balance sheet identity

Total Assets = Total Liabilities + Total Stockholders' Equity


Break-even time

Related: Premium payback period.


Cash flow time-line

Line depicting the operating activities and cash flows for a firm over a particular period.


common-size balance sheet

Balance sheet that presents items as a percentage of total assets.


cycle time

the time between the placement of an order to
the time the goods arrive for usage or are produced by
the company; it is equal to value-added time plus nonvalue-
added time


Employee

A person who renders services to another entity in exchange for compensation.


Employee Retirement Income Security Act of 1974 (ERISA)

A federal Act that sets minimum operational and funding standards for employee benefit
plans.


Employee Time Sheet Image 3

Employee stock fund

A firm-sponsored program that enables employees to purchase shares of the firm's
common stock on a preferential basis.


Employee stock ownership plan (ESOP)

A company contributes to a trust fund that buys stock on behalf of
employees.



Employee Stock Ownership Plan (ESOP)

a profit-sharing compensation program in which investments are made in
the securities of the employer


Employee Stock Ownership Plan (ESOP)

A fund containing company stock and owned by employees, paid for by ongoing contributions by the employer.


idle time

the amount of time spent in storing inventory or
waiting at a production operation for processing


inspection time

the time taken to perform quality control activities


job order cost sheet

a source document that provides virtually
all the financial information about a particular job;
the set of all job order cost sheets for uncompleted jobs
composes the Work in Process Inventory subsidiary ledger


Just-in-time inventory systems

Systems that schedule materials/inventory to arrive exactly as they are
needed in the production process.


just-in-time (JIT)

a philosophy about when to do something;
the when is “as needed” and the something is a production,
purchasing, or delivery activity


Just-in-time (JIT)

A cluster of manufacturing, design, and delivery practices designed to
continually reduce all types of waste, thereby improving production efficiency.


Just-in-time manufacturing

The term for several manufacturing innovations that
result in a “pull” method of production, in which each manufacturing workstation
creates just enough product for the immediate needs of the next workstation in the
production process.


Employee Time Sheet Image 4

just-in-time manufacturing system

a production system that attempts to acquire components and produce inventory only as needed, to minimize product defects, and to
reduce lead/setup times for acquisition and production



just-in-time training

a system that maps the skill sets employees
need and delivers the training they need just as they need it


lead time

see cycle time


line employee

an employee who is directly responsible for
achieving the organization’s goals and objectives


Market timer

A money manager who assumes he or she can forecast when the stock market will go up and down.


market-value balance sheet

Financial statement that uses the market value of all assets and liabilities.


Off-balance-sheet financing

Financing that is not shown as a liability in a company's balance sheet.


Overtime

A pay premium of 50 percent of the regular rate of pay that is earned
by employees on all hours worked beyond 40 hours in a standard work week


processing time

the actual time consumed performing the
functions necessary to manufacture a product


Real time

A real time stock or bond quote is one that states a security's most recent offer to sell or bid (buy).
A delayed quote shows the same bid and ask prices 15 minutes and sometimes 20 minutes after a trade takes place.


Savings Incentive Match Plan for Employees (SIMPLE)

An IRA set up by an employer with no other retirement plan and employing fewer than 100 employees,
into which they can contribute up to $9,000 per year (as of 2004).


service time

the actual time consumed performing the functions
necessary to provide a service


Spreadsheet

A computer program that organizes numerical data into rows and columns on a terminal screen,
for calculating and making adjustments based on new data.


staff employee

an employee responsible for providing advice,
guidance, and service to line personnel


Term Sheet

A list of the major points of the proposed financing being offered by an investor.


Time Clock

A device used to stamp an employee’s incoming or outgoing time
on either a paper document or an electronic record.


Time decay

Related: theta.


Time deposit

Interest-bearing deposit at a savings institution that has a specific maturity.
Related: certificate of deposit.


Time Deposit

See term deposit.


Time draft

Demand for payment at a stated future date.


Time premium

Also called time value, the amount by which the option price exceeds its intrinsic value. The
value of an option beyond its current exercise value representing the optionholder's control until expiration,
the risk of the underlying asset, and the riskless return.


Time to maturity

The time remaining until a financial contract expires. Also called time until expiration.


Time until expiration

The time remaining until a financial contract expires. Also called time to maturity.


Time value of an option

The portion of an option's premium that is based on the amount of time remaining
until the expiration date of the option contract, and that the underlying components that determine the value of
the option may change during that time. time value is generally equal to the difference between the premium
and the intrinsic value. Related: in-the-money.


Time value of money

The idea that a dollar today is worth more than a dollar in the future, because the dollar
received today can earn interest up until the time the future dollar is received.


Time-weighted rate of return

Related: Geometric mean return.


Timecard

A document or electronic record on which an employee records his or
her hours worked during a payroll period.


timeline

representation of the amounts and timing of all
cash inflows and outflows; it is used in analyzing cash flow
from a capital project


times interest earned

A ratio that tests the ability of a business to make
interest payments on its debt, which is calculated by dividing annual
earnings before interest and income tax by the interest expense for the
year. There is no particular rule for this ratio, such as 3 or 4 times, but
obviously the ratio should be higher than 1.


Times-interest-earned ratio

Earnings before interest and tax, divided by interest payments.


Times Interest Earned Ratio

A measure of how well a company is able to meet its interest
payments based on the cash generated by its operations. It is
calculated by dividing the earnings before interest and taxes by the
total interest charges incurred by the firm.


transfer time

the time consumed by moving products or
components from one place to another


Turnaround time

time available or needed to effect a turnaround.



 

 

 

 

 

 

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