|Foreign Sales Corporation (FSC)|
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Definition of Foreign Sales Corporation (FSC)
Foreign Sales Corporation (FSC)
A special type of corporation created by the Tax Reform Act of 1984 that
Articles of incorporation
Legal document establishing a corporation and its structure and purpose.
Conditional sales contracts
Similar to equipment trust certificates except that the lender is either the
Contingent deferred sales charge (CDSC)
The formal name for the load of a back-end load fund.
Controlled foreign corporation (CFC)
A foreign corporation whose voting stock is more than 50% owned
A legal "person" that is separate and distinct from its owners. A corporation is allowed to own
Days' sales in inventory ratio
The average number of days' worth of sales that is held in inventory.
Days' sales outstanding
Average collection period.
Domestic International Sales Corporation (DISC)
A U.S. corporation that receives a tax incentive for
Specialized banking institutions, authorized and chartered by the Federal Reserve Board
Federal Deposit Insurance Corporation (FDIC)
A federal institution that insures bank deposits.
Foreign banking market
That portion of domestic bank loans supplied to foreigners for use abroad.
A bond issued on the domestic capital market of anther company.
Foreign bond market
That portion of the domestic bond market that represents issues floated by foreign
Foreign currency option
An option that conveys the right to buy or sell a specified amount of foreign
Foreign currency translation
The process of restating foreign currency accounts of subsidiaries into the
Foreign direct investment (FDI)
The acquisition abroad of physical assets such as plant and equipment, with
Foreign equity market
That portion of the domestic equity market that represents issues floated by foreign companies.
Currency from another 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 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
Part of a nation's internal market, representing the mechanisms for issuing and trading
Foreign market beta
A measure of foreign market risk that is derived from the capital asset pricing model.
Foreign tax credit
Home country credit against domestic income tax for foreign taxes paid on foreign
Freddie Mac (Federal Home Loan Mortgage Corporation)
A Congressionally chartered corporation that
Mortgage-Backed Securities Clearing Corporation
A wholly owned subsidiary of the Midwest Stock
A firm that operates in more than one country.
Pension Benefit Guaranty Corporation (PBGC)
A federal agency that insures the vested benefits of
A type of corporation permitted under the U.S. tax code whereby a branch operation
Price/sales ratio (PS Ratio)
Determined by dividing current stock price by revenue per share (adjusted for stock splits).
Private Export Funding Corporation (PEFCO)
Company that mobilizes private capital for financing the
The fee charged by a mutual fund when purchasing shares, usually payable as a commission to
A key input to a firm's financial planning process. External sales forecasts are based on
An arrangement whereby a firm leases its own equipment, such as IBM leasing its own
NET SALES (revenue)
The amount sold after customers’ returns, sales discounts, and other allowances are taken away from
NUMBER OF DAYS SALES IN RECEIVABLES
(also called average collection period). The number of days of net sales that are tied up in credit sales (accounts receivable) that haven’t been collected yet.
RATIO OF NET INCOME TO NET SALES
A ratio that shows how much net income (profit) a company made on each dollar of net sales. Here’s the formula:
RATIO OF NET SALES TO NET INCOME
A ratio that shows how much a company had to collect in net sales to make a dollar of profit. Figure it this way:
Cost of sales
The manufacture or purchase price of goods sold in a period or the cost of providing a service.
The mix of product/services offered by the business, each of which may be aimed at different customers, with each product/service having different prices and costs.
Amounts earned by the company from the sale of merchandise or services; often used interchangeably with the term revenue.
A contra account that offsets revenue. It represents the amount of the discounts for early payment allowed on sales.
A journal used to record the transactions that result in a credit to sales.
A contra account that offsets revenue. It represents the amount of sales made that were later returned.
return on sales
This ratio equals net income divided by sales revenue.
Foreign Corrupt Practices Act (FCPA)
a law passed by U.S. Congress in 1977 that makes it illegal for a U.S. company to engage in various “questionable” foreign payments and
the relative combination of quantities of sales of the various products that make up the total sales of a company
sales value at split-off allocation
a method of assigning joint cost to joint products that uses the relative sales values of the products at the split-off point as the proration basis; use of this method requires that all joint products
A legal entity, organized under state laws, whose investors purchase
The total sales recorded prior to sales discounts and returns.
Total revenue, less the cost of sales returns, allowances, and discounts.
A reduction in a price that is allowed by the seller, due to a problem
A reduction in the price of a product or service that is offered by the
Sales value at split-off
A cost allocation methodology that allocates joint costs to joint
Business owned by stockholders who are not personally
percentage of sales models
Planning model in which sales forecasts are the driving variables and most other variables are
The currency of a foreign country.
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.
A tax levied as a percentage of retail sales.
Preferred Stock Stock that has a claim on assets and dividends of a corporation that are prior
to that of common stock. Preferred stock typically does not carry the right to vote.
Sales Revenue Revenue recognized from the sales of products as opposed to the provision of
Lease accounting used by a manufacturer who is also a lessor. Up-front gross
Canadian Deposit Insurance Corporation
Better known as CDIC, this is an organization which insures qualifying deposits and GICs at savings institutions, mainly banks and trust companys, which belong to the CDIC for amounts up to $60,000 and for terms of up to five years. Many types of deposits are not insured, such as mortgage-backed deposits, annuities of duration of more than five years, and mutual funds.
Process by which a company receives its Articles of Incorporation allowing it to operate as a corporation.
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