|European Monetary System (EMS)|
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Definition of European Monetary System (EMS)
European Monetary System (EMS)
An exchange arrangement formed in 1979 that involves the currencies
Accelerated cost recovery system (ACRS)
Schedule of depreciation rates allowed for tax purposes.
Temporary investments of currently excess cash in short-term, high-quality
Clearing House Automated Payments System (CHAPS)
A computerized clearing system for sterling funds
Clearing House Interbank Payments System (CHIPS)
An international wire transfer system for high-value
In the balance of payments, counterpart items are analogous to unrequited transfers in the
Dupont system of financial control
Highlights the fact that return on assets (ROA) can be expressed in terms
European Currency Unit (ECU)
An index of foreign exchange consisting of about 10 european currencies,
Option that may be exercised only at the expiration date. Related: american option.
European Union (EU)
An economic association of european countries founded by the Treaty of Rome in
An option contract that can only be exercised on the expiration date.
Federal Reserve System
The central bank of the U.S., established in 1913, and governed by the Federal
GEMs (growing-equity mortgages)
Mortgages in which annual increases in monthly payments are used to
Imputation tax system
Arrangement by which investors who receive a dividend also receive a tax credit for
International Monetary Fund
An organization founded in 1944 to oversee exchange arrangements of
International Monetary Market (IMM)
A division of the CME established in 1972 for trading financial
Just-in-time inventory systems
systems that schedule materials/inventory to arrive exactly as they are
Gold held by governmental authorities as a financial asset.
Actions taken by the Board of Governors of the Federal Reserve system to influence the
Monetary / non-monetary method
Under this translation method, monetary items (e.g. cash, accounts
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
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
SIMEX (Singapore International Monetary Exchange)
A leading futures and options exchange in Singapore.
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
Common to all businesses.
Also called undiversifiable risk or market risk, the minimum level of risk that can be
Systematic risk principle
Only the systematic portion of risk matters in large, well-diversified portfolios.
Two-tier tax system
A method of taxation in which the income going to shareholders is taxed twice.
Also called the diversifiable risk or residual risk. The risk that is unique to a company
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).
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
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.
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.
The amount of total risk that cannot be eliminated by portfolio
The amount of total risk that can be eliminated by diversification by
actual cost system
a valuation method that uses actual direct
business intelligence (BI) system
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
cost control system
a logical structure of formal and/or informal
cost management system (CMS)
a set of formal methods
enterprise resource planning (ERP) system
a packaged software program that allows a company to
European Union (EU)
an economic alliance originally created
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
hybrid costing system
a costing system combining characteristics
job order costing system
a system of product costing used
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
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
normal cost system
a valuation method that uses actual
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
process costing system
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
a production system dictated by product sales
the traditional production system in which
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
standard cost system
a valuation method that uses predetermined
an inventory ordering system in which two
An option that can be exercised only on its expiration date.
Conflicts of interest between the firm’s owners and managers.
Du Pont system
A breakdown of ROE and ROA into component ratios.
system whereby customers send payments to a post office box and a local bank collects and processes checks.
Modified Accelerated Cost Recovery System (MACRS)
Depreciation method that allows higher tax deductions in early years and lower deductions later.
Federal Reserve System
The central banking authority responsible for monetary policy in the United States.
International Monetary Fund (IMF)
Organization originally established to manage the postwar fixed exchange rate system.
Any measure of the economy's money supply.
See money base.
Actions taken by the central bank to change the supply of money and the interest rate and thereby affect economic activity.
See market mechanism.
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
Revenues or gains and expenses or losses that are not expected to recur
Significant credits or charges resulting from transactions or events that, in the
Automated storage/retrieval system
A racking system using automated systems
Enterprise resource planning system
A computer system used to manage all company
A materials flow concept in which parts are only withdrawn after a
A materials flow concept in which parts are issued based on planned
A system in which parts are reordered when their supply in one
Visual review system
Inventory reordering based on a visual inspection of on-hand
system whereby a depositor may write cheques in excess of the balance, with the bank automatically extending a loan to cover the shortage.
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.
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.
systematic withdrawal plan
Plans offered by mutual fund companies that allow unitholders to receive payment from their investment at regular intervals.
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