|engineering change order (ECO)|
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Definition of engineering change order (ECO)
engineering change order (ECO)
a business mandate that changes the way in which a product is manufactured or a
Schedule of depreciation rates allowed for tax purposes.
An alteration in the accounting methodology or estimates used in
The second-largest stock exchange in the United States. It trades
The process of taking the balances from the bank statement and the general ledger and making adjustments so that they agree.
A comparison between the cash position recorded on a company’s
General term for a document demanding payment.
the process of combining information technology to create new and more effective
A conditional trading order that indicates a security may be purchased only at the designated
Refers to recouping, or regaining, invested capital over
A change in accounting that occurs as the result of new information
A change in the implementation of an existing accounting
A change from one generally accepted accounting principle to another generally accepted accounting principle—for example, a change from capitalizing expenditures
A change in the scope of the entities included in a set of, typically, consolidated financial statements.
Sources of funds internally provided from operations that alter a company's
A not-for-profit corporation owned by its members. Its primary
The school of macroeconomic thought prior to the rise of Keynesianism.
An economy in which imports and exports are very small relative to GDP and so are ignored in macroeconomic analysis. Contrast with open economy.
Commodities Exchange Center (CEC)
The location of five New York futures exchanges: Commodity
see simultaneous engineering
Consolidated Omnibus Budget Reconciliation Act (COBRA)
A federal Act
Convertible exchangeable preferred stock
Convertible preferred stock that may be exchanged, at the
Refers to the volatility of returns on international investments caused by events associated
Cumulative Effect of a Change in Accounting Principle
The change in earnings of previous years
Cumulative Effect of Accounting Change
The change in earnings of previous years assuming
Date of record
Date on which holders of record in a firm's stock ledger are designated as the recipients of
An order to buy or sell stock that automatically expires if it can't be executed on the day it is entered.
Discrete order picking
A picking method requiring the sequential completion of
economic environment in which the firm expects to reside over the life of the
economic components model
Abrams’ model for calculating DLOM based on the interaction of discounts from four economic components.
See: in-substance defeasance.
Exists when the costs and/or revenues of one project depend on those of another.
The real flow of cash that a firm could pay out forever in the absence of any change in
The extent to which the value of the firm will change because of an exchange rate change.
Cash flow plus change in present value.
the creation of multi-country markets
The period over which a company expects to be able to use an asset.
economic order quantity
order size that minimizes total inventory costs.
Economic order quantity (EOQ)
The order quantity that minimizes total inventory costs.
economic order quantity (EOQ)
an estimate of the number
economic production run (EPR)
an estimate of the number
Profits in excess of the competitive level.
In project financing, the risk that the project's output will not be salable at a price that will
For any entity, the difference between the market value of all its assets and the market
An agreement between two or more countries that allows the free movement of capital,
Economic Value Added (EVA)
Operating profit, adjusted to remove distortions caused by certain accounting rules, less a charge
economic value added (EVA)
a measure of the extent to which income exceeds the dollar cost of capital; calculated
economic value added (EVA)
Term used by the consulting firm Stern Stewart for profit remaining after deduction of the cost
when the incremental revenue from the sale of reworked defective units is greater than
The study of the allocation and distribution of scare resources among competing wants.
Economies of scale
The decrease in the marginal cost of production as a plant's scale of operations increases.
Economies of scope
Scope economies exist whenever the same investment can support multiple profitable
Effective Exchange Rate
The 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 Change
Technical change that can be used only when new capital embodying this technical change is produced.
A change to a product’s specifications as issued by the engineering
Equation of Exchange
The quantity theory equation Mv = PQ.
The marketplace in which shares, options and futures on stocks, bonds, commodities and indices
Governmental restrictions on the purchase of foreign currencies by domestic citizens or
Exchange of assets
Acquisition of another company by purchase of its assets in exchange for cash or stock.
Exchange of stock
Acquisition of another company by purchase of its stock in exchange for cash or shares.
An offer by the firm to give one security, such as a bond or preferred stock, in exchange for
The price of one country's currency expressed in another country's currency.
Amount 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, Nominal
The price of one currency in terms of another, in this book defined as number of units of foreign currency per dollar.
Exchange Rate, Real
The nominal exchange rate corrected for price level differences.
Exchange rate risk
Also called currency risk, the risk of an investment's value changing because of currency
The variability of a firm's value that results from unexpected exchange rate changes or the
Security that grants the security holder the right to exchange the security for the
expectations theory of exchange rates
Theory that expected spot exchange rate equals the forward rate.
Fill or kill order
A trading order that is canceled unless executed within a designated time period.
Combining or dividing existing instruments to create new financial products.
A country's decision to tie the value of its currency to another country's currency, gold
Fixed Exchange Rate
An exchange rate held constant by a government promise to buy or sell dollars at the fixed rate on the foreign exchange market.
Flexible Exchange Rate
An exchange rate whose value is determined by the forces of supply and demand on the foreign exchange market.
Floating exchange rate
A country's decision to allow its currency value to freely change. The currency is not
Floating Exchange Rate
See flexible exchange rate.
Currency from another country.
The currency of a foreign country.
Foreign exchange controls
Various forms of controls imposed by a government on the purchase/sale of
Foreign exchange dealer
A firm or individual that buys foreign exchange from one party and then sells it to
Foreign Exchange Market
A worldwide market in which one country's currency is bought or sold in exchange for another country's currency.
Foreign Exchange Reserves
A fund containing the central bank's holdings of foreign currency or claims thereon.
Foreign exchange risk
The risk that a long or short position in a foreign currency might have to be closed out
Foreign exchange swap
An agreement to exchange stipulated amounts of one currency for another currency
Forward Exchange Market
A 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 rate
Exchange rate fixed today for exchanging currency at some future date.
forward rate of exchange
Exchange rate for a forward transaction.
an economy characterized by the international
Gold exchange standard
A system of fixing exchange rates adopted in the Bretton Woods agreement. It
Historical exchange rate
An accounting term that refers to the exchange rate in effect when an asset or
The date on which holders of record in a firm's stock ledger are designated as the
International Bank for Reconstruction and Development - IBRD or World Bank
International Bank for Reconstruction and Development makes loans at nearly conventional terms to countries for projects of high
job cost record
see job order cost sheet
job order cost sheet
a source document that provides virtually
job order costing system
a system of product costing used
Leading economic indicators
economic series that tend to rise or fall in advance of the rest of the economy.
An order to buy a stock at or below a specified price or to sell a stock at or above a specified
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