|enterprise resource planning (ERP) system|
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Definition of enterprise resource planning (ERP) system
enterprise resource planning (ERP) system
a packaged software program that allows a company to
A computer system used to manage all company
Schedule of depreciation rates allowed for tax purposes.
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
a valuation method that uses actual direct
A budgeting process using summary-level information to
A racking system using automated systems
Standard terms and conditions.
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
a system using transfer prices; see transfer
A computerized clearing system for sterling funds
An international wire transfer system for high-value
Financial planning conducted by a firm that encompasses preparation of both
a logical structure of formal and/or informal
a set of formal methods
In the balance of payments, counterpart items are analogous to unrequited transfers in the
The parties to an interest rate swap.
on the other side of a trade or transaction.
The risk that the other party to an agreement will default. In an options contract, the risk
Du Pont system
A breakdown of ROE and ROA into component ratios.
Dupont system of financial control
Highlights the fact that return on assets (ROA) can be expressed in terms
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
An insurance program designed to provide funds for insured's dependents upon death of the insured, and to also conserve, as much as possible, the personal assets that the insured wants to bequeath to heirs.
European Monetary System (EMS)
An exchange arrangement formed in 1979 that involves the currencies
Federal Reserve System
The central bank of the U.S., established in 1913, and governed by the Federal
Federal Reserve System
The central banking authority responsible for monetary policy in the United States.
The process of evaluating the investing and financing options available to a firm. It
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
Arrangement used to finance inventory. A finance company buys the inventory, which is then
Government sponsored enterprises
Privately owned, publicly chartered entities, such as the Student Loan
A constant stream of cash flows without end that is expected to rise indefinitely.
hybrid costing system
a costing system combining characteristics
Imputation tax system
Arrangement by which investors who receive a dividend also receive a tax credit for
Canada's bank machine and electronic debit system. If you use your bank card at a bank machine which displays the Interac symbol (and that bank machine is not your bank's machine), you will be charged a fee.
The movement of inventory from one company location to
the process of finding a term between two
job order costing system
a system of product costing used
Just-in-time inventory systems
systems that schedule materials/inventory to arrive exactly as they are
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
system whereby customers send payments to a post office box and a local bank collects and processes checks.
MACRS (Modified Accelerated Cost Recovery System)
A depreciation method created by the IRS under the Tax Reform Act of 1986. Companies must use it to depreciate all plant and equipment assets installed after December 31, 1986 (for tax purposes).
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
Manufacturing resource planning
An integrated, computerized system for planning
manufacturing resource planning (MRP II)
a fully integrated materials requirement planning system that involves
Manufacturing resource planning (MRP II)
An expansion of the material requirements planning concept, with additional computer-based capabilities in the areas of
Material requirements planning
A computerized system used to calculate material
Material requirements planning (MRP)
A computer-driven production methodology
Materials requirement planning
Computer-based systems that plan backward from the production schedule
materials requirements planning (MRP)
a computerbased information system that simulates the ordering and
Modified Accelerated Cost Recovery System (MACRS)
Depreciation method that allows higher tax deductions in early years and lower deductions later.
A technical trading strategy that combines mechanical rules, such as the CRISMA
Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also
normal cost system
a valuation method that uses actual
system whereby a depositor may write cheques in excess of the balance, with the bank automatically extending a loan to cover the shortage.
When a security is expected to appreciate at a rate faster than the overall market.
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
Periodic inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold only at the end of the period.
A system that continually tracks all additions to and deletions
A manual or automated inventory tracking system in which
Perpetual inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold each time a sale is made.
Warrants that have no expiration date.
A constant stream of identical cash flows without end, such as a British consol.
A special case of an annuity with no set maturity. Payments are
Stream of level cash payments that never ends.
the process of creating the goals and objectives for
The length of time a model projects into the future.
Time horizon for a financial plan.
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
A bank machine network outside Canada, across the U.S. and internationally. Customers who use a bank machine with a 'PLUS' symbol may be charged a fee.
PPF (periodic perpetuity factor)
a generalization formula invented by Abrams that is the present value of regular but noncontiguous cash flows that have constant growth to perpetuity.
See market mechanism.
process costing system
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
a production system dictated by product sales
A materials flow concept in which parts are only withdrawn after a
the traditional production system in which
A materials flow concept in which parts are issued based on planned
an inventory ordering system in which a red
responsibility accounting system
an accounting information system for successively higher-level managers about the performance of segments or subunits under the control
a resource that is essential to production
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
standard cost system
a valuation method that uses predetermined
the process of developing a statement of
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
Common to all businesses.
Also called undiversifiable risk or market risk, the minimum level of risk that can be
The amount of total risk that cannot be eliminated by portfolio
Systematic risk principle
Only the systematic portion of risk matters in large, well-diversified portfolios.
systematic withdrawal plan
Plans offered by mutual fund companies that allow unitholders to receive payment from their investment at regular intervals.
the process of determining the specific
an inventory ordering system in which two
A system in which parts are reordered when their supply in one
Two-tier tax system
A method of taxation in which the income going to shareholders is taxed twice.
When a security is expected to appreciate at a slower rate than the overall market.
Issue of securities below their market value.
Issuing securities at an offering price set below the true value of the security.
Also called the diversifiable risk or residual risk. The risk that is unique to a company
The amount of total risk that can be eliminated by diversification by
Visual review system
Inventory reordering based on a visual inspection of on-hand
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