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Definition of Garnishment
A court-ordered authorization to shift employee wages to a creditor.
A federal Act specifying which jurisdiction
This doctrine says that a nation is sovereign within its own borders and its domestic
A market in which there is much trading.
A strategy that uses available information and forecasting techniques to seek a
a repetitive action performed in fulfillment of business functions
the process of detailing the various repetitive actions that are performed in making a product or
A method of budgeting that develops budgets based on expected activities and cost drivers – see also activity-based costing.
planning approach applying activity drivers to estimate the levels and costs of activities necessary to provide the budgeted quantity and
A method of costing that uses cost pools to accumulate the cost of significant business activities and then assigns the costs from the cost pools to products or services based on cost drivers.
A relatively new method advocated for the
a process using multiple cost drivers to predict and allocate costs to products and services;
A cost allocation system that compiles costs and assigns
a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received
a segment of the production or service
a measure of the demands on activities and,
The actual expenditure made to acquire an asset, which includes the supplierinvoiced
actual cost system
a valuation method that uses actual direct
The physical commodity underlying a futures contract. Cash commodity, physical.
One who uses statistical information to evaluate the probability of future events and prices insurance products.
ADF (annuity discount factor)
the present value of a finite stream of cash flows for every beginning $1 of cash flow.
Allocation base A measure of activity or volume such as labour
hours, machine hours or volume of production
The pool factor implied by the scheduled amortization assuming no prepayemts.
Present value of $1 paid for each of t periods.
Present value of an annuity of $1 per period.
Asset activity ratios
Ratios that measure how effectively the firm is managing its assets.
Bill and Hold Practices
Products that have been sold with an explicit agreement that delivery
A guaranteed investment contract purchased with a single (one-shot) premium. Related:
an activity that is necessary for the operation of the business but for which a customer would not want to pay
cash flow from operating activities, or cash flow from profit
This equals the cash inflow from sales during the period minus the cash
Cash Flow Provided by Operating Activities
With some exceptions, the cash effects of transactions
Cash Flow Provided or Used from Financing Activities
Cash receipts and payments involving
Cash Flow Provided or Used from Investing Activities
Cash receipts and payments involving
CASH FLOWS FROM FINANCING ACTIVITIES
A section on the cash-flow statement that shows how much cash a company raised by selling stocks or bonds this year and how much was paid out for cash dividends and other finance-related obligations.
CASH FLOWS FROM INVESTING ACTIVITIES
A section on the cashflow statement that shows how much cash came in and went out because of various investing activities like purchasing machinery.
Cash settlement contracts
Futures contracts, such as stock index futures, that settle for cash, not involving
A transaction where exchange is immediate, as contrasted to a forward contract, which
The market model applied to a single security. The slope of the line is a security's beta.
The percentage of a given month's sales collected during the month of sale and each
A contract accounting method that recognizes contract revenue
computer-aided manufacturing (CAM)
the use of computers to control production processes through numerically
computer integrated manufacturing (CIM)
the integration of two or more flexible manufacturing systems through the use of a host computer and an information networking system
Conditional sales contracts
Similar to equipment trust certificates except that the lender is either the
Consolidated Omnibus Budget Reconciliation Act (COBRA)
A federal act
Consumer Credit Protection Act
A federal act specifying the proportion of
A term of reference describing a unit of trading for a financial or commodity future. Also, the actual
A formal written statement of the rights and obligations of each party to a transaction.
Method of accounting for sales or service agreements where completion
an external party that has been granted an outsourcing contract to produce a part or component for an entity
The month in which futures contracts may be satisfied by making or accepting a delivery.
an external party that has been granted an
Contract Work Hours and Safety Standards Act
A federal act requiring federal contractors to pay overtime for hours worked exceeding 40 per week.
Rules set by the Chicago Board of Trade for determining the invoice price of each
cost of goods manufactured (CGM)
the total cost of the
Cost of manufacture
The cost of goods manufactured for subsequent sale.
a contract in which the customer agrees
Creative Accounting Practices
Any and all steps used to play the financial numbers game, including
critical success factors (CSF)
any item (such as quality, customer
Current Tax Payment Act of 1943
A federal act requiring employers to withhold income taxes from employee pay.
Davis-Bacon Act of 1931
A federal act providing wage protection to nongovernment
Existing in actual fact although not by official recognition.
design for manufacturability (DFM)
a process that is part of the project management of a new product; concerned with finding optimal solutions to minimizing product failures
Present value of $1 received at a stated future date.
Present value of a $1 future payment.
Employee Retirement Income Security Act of 1974 (ERISA)
A federal act that sets minimum operational and funding standards for employee benefit
Equal Pay Act of 1963
A federal act requiring that both sexes receive equal pay
A bond portfolio management strategy that involves finding the lowest cost portfolio
A financial institution that buys a firm's accounts receivables and collects the debt.
An agent who buys and sells goods on behalf of others for a commission.
A statistical procedure that seeks to explain a certain phenomenon, such as the return on a
A way of decomposing the factors that influence a security's rate of return into common and
Factor of Production
A resource used to produce a good or service. The main macroeconomic factors of production are capital and labor.
A well-diversified portfolio constructed to have a beta of 1.0 on one factor and a beta of
Sale of a firm's accounts receivable to a financial institution known as a factor.
The sale of accounts receivable to a third party, with the third party bearing
The discounting, or sale at a discount, of receivables on a nonrecourse, notification
Type of financial service whereby a firm sells or transfers title to its accounts receivable to a factoring company, which then acts as principal, not as agent.
All the costs incurred during the manufacturing process, minus the
Fair Labor Standards Act of 1938
A federal act creating standards of overtime
Family and Medical Leave Act
A federal act containing the rules for offering
Farm Improvement and Marketing Cooperatives Loans Act
Federal Insurance Contributions Act of 1935 (FICA)
A federal act authorizing the government to collect Social Security and Medicare payroll taxes.
Federal Unemployment Tax Act (FUTA)
A federal act requiring employers to pay a tax on the wages paid to their employees, which is then used to create a
One of the three classes of cash flows reported in the
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
A guaranteed investment contract where the credit rating is tied to some variable
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
A cash market transaction in which delivery of the commodity is deferred until after the
Agreement to buy or sell an asset in the future at an agreed price.
Forward forward contract
In Eurocurrencies, a contract under which a deposit of fixed maturity is agreed to
fractional interest discount
the combined discounts for lack of control and marketability. g the constant growth rate in cash flows or net income used in the ADF, Gordon model, or present value factor.
Fractional Reserve Banking
A banking system in which banks hold only a fraction of their outstanding deposits in cash or on deposit with the central bank.
Set of funds with different investment objectives offered by one management company. In many
Agreement to buy or sell a set number of shares of a specific stock in a designated future
Exchange-traded promise to buy or sell an asset in the future at a prespecified price.
A contract in which the seller agrees to provide something to a buyer at a specified future date at an agreed price.
Futures contract multiple
A constant, set by an exchange, which when multiplied by the futures price gives
A 1933 act in which Congress forbade commercial banks to own, underwrite, or deal in
Publicly owned stock in a firm is replaced with complete equity ownership by a
Guaranteed insurance contract
A contract promising a stated nominal interest rate over some specific time
Guaranteed investment contract (GIC)
A pure investment product in which a life company agrees, for a
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