|Just-in-time inventory systems
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Definition of Just-in-time inventory systems
Just-in-time inventory systems
systems that schedule materials/inventory to arrive exactly as they are
Publicly traded issues that may be collateralized by mortgages and MBSs.
The net present value analysis of an asset if financed solely by equity
A secured loan that gives the lender a lien against all the borrower's inventories.
Related: Premium payback period.
Line depicting the operating activities and cash flows for a firm over a particular period.
An entry in a translated balance sheet in which gains
The average number of days' worth of sales that is held in inventory.
For companies: Raw materials, items available for sale or in the process of being made ready for
A secured short-term loan to purchase inventory. The three basic forms are a blanket
The ratio of annual sales to average inventory which measures the speed that inventory
A money manager who assumes he or she can forecast when the stock market will go up and down.
The adjusted present value minus the initial cost of an investment.
1) The spread over an issuer's spot rate curve, developed as a measure of
A real time stock or bond quote is one that states a security's most recent offer to sell or bid (buy).
A probability used to determine a "sure" expected value (sometimes called a
return Return earned on an asset normalized for the amount of risk associated with that asset.
Interest-bearing deposit at a savings institution that has a specific maturity.
Demand for payment at a stated future date.
Also called time value, the amount by which the option price exceeds its intrinsic value. The
Time until expiration
The time remaining until a financial contract expires. Also called time to maturity.
Time to maturity
The time remaining until a financial contract expires. Also called time until expiration.
Time value of an option
The portion of an option's premium that is based on the amount of time remaining
Time value of money
The idea that a dollar today is worth more than a dollar in the future, because the dollar
Time-weighted rate of return
Related: Geometric mean return.
Earnings before interest and tax, divided by interest payments.
time available or needed to effect a turnaround.
The number of times a company sold out and replaced its average stock of goods in a year. The formula is:
The value of the products that a retailing or wholesaling company intends to resell for a profit.
Goods bought or manufactured for resale but as yet unsold, comprising raw materials, work-in-progress and finished goods.
The entries needed at the end of an accounting period to properly state certain account balances.
The cost of the goods that a company has available for resale.
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.
A term describing the loss of products from inventory
inventory turnover ratio
The cost-of-goods-sold expense for a given
Refers to making an entry, usually at the close of a
times interest earned
A ratio that tests the ability of a business to make
Inventory Turnover Ratio
Provides a measure of how often a company's inventory is sold or
Times Interest Earned Ratio
A measure of how well a company is able to meet its interest
the time between the placement of an order to
dollar days (of inventory)
a measurement of the value of inventory for the time that inventory is held
employee time sheet
a source document that indicates, for each employee, what jobs were worked on during the day and for what amount of time
the amount of time spent in storing inventory or
the time taken to perform quality control activities
judgmental method (of risk adjustment)
an informal method of adjusting for risk that allows the decision maker
a philosophy about when to do something;
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
a system that maps the skill sets employees
see cycle time
the actual time consumed performing the
risk-adjusted discount rate method
a formal method of adjusting for risk in which the decision maker increases the rate used for discounting the future cash flows to compensate for increased risk
the actual time consumed performing the functions
representation of the amounts and timing of all
the time consumed by moving products or
a streamlined system of inventory
The beginning inventory for a period, plus the amount at the end of
The amount of money invested in inventory, as per a companyâ€™s
Finished goods inventory
Goods that have been completed by the manufacturing
The term for several manufacturing innovations that
Moving average inventory method
An inventory costing methodology that calls for the re-calculation of the average cost of all parts in stock after every purchase.
A system that continually tracks all additions to and deletions
Raw materials inventory
The total cost of all component parts currently in stock that
inventory that has been partially converted through the
Goods that a firm stores in anticipation of its later sale or use as an input.
A firm that reacts to excess supply or excess demand by adjusting price rather than quantity. Contrast with quantity adjuster.
A firm that reacts to excess supply or excess demand by adjusting quantity rather than price. Contrast with price adjuster.
Adjustment to correct measures for changes that happen for seasonal reasons.
See term deposit.
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
A pay premium of 50 percent of the regular rate of pay that is earned
A document or electronic record on which an employee records his or
A device used to stamp an employeeâ€™s incoming or outgoing time
Adjusted Cash Flow Provided by Continuing Operations
Cash flow provided by operating
Adjusted Income from Continuing
Operations Reported income from continuing operations
Net income adjusted to exclude selected nonrecurring and noncash items of reserve, gain, expense, and loss.
Conventional earnings before interest, taxes, depreciation, and amortization (EBITDA) revised to exclude the effects of mainly nonrecurring items of revenue or gain and expense or loss.
Average-Cost Inventory Method
The inventory cost-flow assumption that assigns the average
The cumulative, after-tax, prior-year effect of a change in accounting
First-In, First-Out (FIFO) Inventory Method
The inventory cost-flow assumption that
The cost of unsold goods that are held for sale in the ordinary course of business or
The number of days it would take to sell the ending balance in inventory at the
A shortfall between inventory based on actual physical counts and inventory
Last-In, First-Out (LIFO) Inventory Method
The inventory cost-flow assumption that assigns the most recent inventory acquisition costs to cost of goods sold. The earliest inventory
ABC inventory classification
A method for dividing inventory into classifications,
inventory intended for shipment to customers, usually
The dollar value or unit total of goods on hand at the end of an
Finished goods inventory
Completed inventory items ready for shipment to
Excess inventory kept on hand to provide a buffer against
Excess inventories kept on hand as a buffer against contingent
Parts with no recent prior or forecasted usage.
inventory currently situated between its shipment and delivery
Those items included categorized as either raw materials, work-inprocess,
A transaction used to adjust the book balance of an inventory
The redirection of parts or finished goods away from their intended
A transaction used to record the reduction in inventory from a location,
The arrival of an inventory delivery from a supplier or other
inventory returned from a customer for any reason. This receipt
The number of times per year that an entire inventory or a
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