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Definition of Gross Pay
The amount of earnings due to an employee prior to tax and other deductions.
A form used to report gross pay and tax deductions for each employee
Money owed to suppliers.
Amounts a company owes to creditors.
Amounts owed by the company for goods and services that have been received, but have not yet been paid for. Usually Accounts payable involves the receipt of an invoice from the company providing the services or goods.
Short-term, non-interest-bearing liabilities of a business
Acurrent liability on the balance sheet, representing short-term obligations
Amounts due to vendors for purchases on open account, that is, not evidenced
The number of days it would take to pay the ending balance
Expenses that have to be recorded in order for the financial statements to be accurate. Accrued expenses usually do not involve the receipt of an invoice from the company providing the goods or services.
The account that records the short-term, noninterest-
Automatic payment of moneys derived from a benefit.
A statistical compilation formulated by a sovereign nation of all economic transactions
The difference between the demand for and supply of a country's currency on the foreign exchange market.
A statement of a country's transactions with other countries.
Amounts owed by the company that have been formalized by a legal document called a bond.
Break-even lease payment
The lease payment at which a party to a prospective lease is indifferent between
Break-even payment rate
The prepayment rate of a MBS coupon that will produce the same CFY as that of
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
compensation that is dependent on the
A bond's interest payments.
Current Tax Payment Act of 1943
A federal Act requiring employers to withhold income taxes from employee pay.
Customary payout ratios
A range of payout ratios that is typical based on an analysis of comparable firms.
Date of payment
Date dividend checks are mailed.
Delivery versus payment
A transaction in which the buyer's payment for securities is due at the time of
Discounted payback period rule
An investment decision rule in which the cash flows are discounted at an
Dividend payout ratio
Percentage of earnings paid out as dividends.
dividend payout ratio
Computed by dividing cash dividends for the year
dividend payout ratio
Percentage of earnings paid out as dividends.
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
Equal Pay Act of 1963
A federal Act requiring that both sexes receive equal pay
Feasible target payout ratios
payout ratios that are consistent with the availability of excess funds to make
FHA prepayment experience
The percentage of loans in a pool of mortgages outstanding at the origination
In an interest rate swap the counterparty who pays a fixed rate, usually in exchange for a
In an interest rate swap, the counterparty who pays a rate based on a reference rate,
See: financial lease.
Graduated-payment mortgages (GPMs)
A type of stepped-payment loan in which the borrower's payments
Gross Domestic Product
Total output of final goods and services produced within a country during a year.
Gross domestic product (GDP)
The market value of goods and services produced over time including the
Interest earned before taxes are deducted.
Revenues less the cost of goods sold.
gross margin, or gross profit
This first-line measure of profit
Gross National Product
Total output of final goods and services produced by a country's citizens during a year.
Gross national product (GNP)
Measures and economy's total income. It is equal to GDP plus the income
The profit a company makes before expenses and taxes are taken away.
The difference between the price at which goods or services are sold and the cost of sales.
The result of subtracting cost of goods sold from sales. Synonymous with gross margin.
Revenue less cost of goods sold.
Gross profit margin
gross profit divided by sales, which is equal to each sales dollar left over after paying
Gross Profit Margin
gross profit divided by revenue.
The total sales recorded prior to sales discounts and returns.
The fraction of the gross proceeds of an underwritten securities offering that is paid as
Interac® Direct Payment
Instead of paying with cash or a credit card, Interac Direct payment allows you to pay for your purchase with a debit card, such as your bank card. The amount of the purchase is electronically debited, or withdrawn, from your bank account (see debit card).
The amount of interest that is owed but has not been paid at the end of a period.
Contractual debt payments based on the coupon rate of interest and the principal amount.
Lag response of prepayments
There is typically a lag of about three months between the time the weighted
The consideration paid by the lessee to the lessor in exchange for the use of the leased equipment/property. payments are usually made at fixed intervals.
The characteristic of the scheduled principal and interest payments due under a mortgage such that
Amounts that have been loaned to the company and that it still owes.
a pay increment earned by achieving a specific
The amount of an employee’s wages payable after all tax and other deductions have been removed.
Amounts owed by the company that have been formalized by a legal document called a note.
online bill payment
The electronic payment of a bill via the Internet. The specified amount of the bill is electronically debited from your account.
The loss of cash resulting from a swap into higher price bonds or the need/willingness of a bank or
Payable through drafts
A method of making payment that is used to maintain control over payments made
Related: Accounts payable.
The length of time it takes to recover the initial cost of a project, without regard to the time value of money.
A method of investment appraisal that calculates the number of years taken for the cash flows from an investment to cover the initial capital outlay.
The length of time required for the net revenues of an investment for the net revenues of an investment to return the cost of the investment.
A capital budgeting analysis method that calculates the amount of
The number of years necessary for the net cash flows of an
the time it takes an investor to recoup an
Time until cash flows recover the initial investment of the project.
A credit card into which a company directly deposits an employee's net pay.
In a Treasury refunding, the amount by which the par value of the securities maturing exceeds that
The date on which each shareholder of record will be sent a check for the declared dividend.
The date established for the payment of a declared dividend.
Company-written checks that have not yet cleared.
Checks written by a company that have not yet cleared.
bond A bond that gives the issuer an option (during an initial period) either to make
Reducing fund transfers between affiliates to only a netted amount. Netting can be done on
escribes the lagged collection pattern of receivables, for instance the probability that a
Generally, the proportion of earnings paid out to the common stockholders as cash dividends.
Fraction of earnings paid out as dividends.
The period of service for which a company compensates its employees.
The amount paid to employees for services rendered; synonymous with salary expense and wage expense.
A journal used to record the payroll of a company.
A report on which is summarized the wage and deduction information
This calculation is used by states to determine the unemployment
Payroll tax expense
The amount of tax associated with salaries that an employer pays to governments (federal, state, and local).
Payroll taxes payable
The amount of payroll taxes owed to the various governments at the end of a period.
A system where funds are electronically debited from your account on a specified date by a financial institution (e.g., bill, mortgage or personal loan payments) or perhaps an insurance or an utility company.
A payment made in advance of when it is treated as an expense for profit purposes.
Also called speed, the estimated rate at which mortgagors pay off their loans ahead of
payments made in excess of scheduled mortgage principal repayments.
Production payment financing
A method of nonrecourse asset-based financing in which a specified
Periodic payments to a supplier, contractor or subcontractor for work satisfactorily performed to date.
The length of time given a borrower by a lender to repay a debt and the frequency of principal payments which the borrower has to meet.
Salaries that are owed but have not been paid at the end of a period.
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