|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
A method for dividing inventory into classifications,
Publicly traded issues that may be collateralized by mortgages and MBSs.
Cash flow provided by operating
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.
Operations Reported income from continuing operations
The net present value analysis of an asset if financed solely by equity
The entries needed at the end of an accounting period to properly state certain account balances.
The inventory cost-flow assumption that assigns the average
The beginning inventory for a period, plus the amount at the end of
A secured loan that gives the lender a lien against all the borrower's inventories.
The amount of money invested in inventory, as per a company’s
Related: Premium payback period.
Line depicting the operating activities and cash flows for a firm over a particular period.
The cumulative, after-tax, prior-year effect of a change in accounting
Cumulative Translation Adjustment (CTA) account
An entry in a translated balance sheet in which gains
the time between the placement of an order to
Days' sales in inventory ratio
The average number of days' worth of sales that is held in inventory.
inventory intended for shipment to customers, usually
dollar days (of inventory)
a measurement of the value of inventory for the time that inventory is held
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
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 dollar value or unit total of goods on hand at the end of an
Finished goods inventory
Goods that have been completed by the manufacturing
Finished goods inventory
Completed inventory items ready for shipment to
First-In, First-Out (FIFO) Inventory Method
The inventory cost-flow assumption that
Excess inventory kept on hand to provide a buffer against
Excess inventories kept on hand as a buffer against contingent
the amount of time spent in storing inventory or
inventory currently situated between its shipment and delivery
Parts with no recent prior or forecasted usage.
the time taken to perform quality control activities
For companies: Raw materials, items available for sale or in the process of being made ready for
Goods bought or manufactured for resale but as yet unsold, comprising raw materials, work-in-progress and finished goods.
The cost of the goods that a company has available for resale.
Goods that a firm stores in anticipation of its later sale or use as an input.
The cost of unsold goods that are held for sale in the ordinary course of business or
Those items included categorized as either raw materials, work-inprocess,
A transaction used to adjust the book balance of an inventory
The number of days it would take to sell the ending balance in inventory at the
The redirection of parts or finished goods away from their intended
A transaction used to record the reduction in inventory from a location,
A secured short-term loan to purchase inventory. The three basic forms are a blanket
The arrival of an inventory delivery from a supplier or other
inventory returned from a customer for any reason. This receipt
A term describing the loss of products from inventory
A shortfall between inventory based on actual physical counts and inventory
The ratio of annual sales to average inventory which measures the speed that inventory
The number of times a company sold out and replaced its average stock of goods in a year. The formula is:
The number of times per year that an entire inventory or a
Ratio of annual sales to inventory, which shows how many times the inventory of a firm is sold and replaced during an accounting period.
inventory turnover ratio
The cost-of-goods-sold expense for a given
Inventory Turnover Ratio
Provides a measure of how often a company's inventory is sold or
Refers to making an entry, usually at the close of a
judgmental method (of risk adjustment)
an informal method of adjusting for risk that allows the decision maker
a philosophy about when to do something;
A cluster of manufacturing, design, and delivery practices designed to
The term for several manufacturing innovations that
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
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
see cycle time
A money manager who assumes he or she can forecast when the stock market will go up and down.
An inventory item’s budgeted maximum inventory level,
The value of the products that a retailing or wholesaling company intends to resell for a profit.
An inventory item’s budgeted minimum inventory level.
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.
Net adjusted present value
The adjusted present value minus the initial cost of an investment.
The current inventory balance, less allocated or reserved items.
Parts not used in any current end product.
Option-adjusted spread (OAS)
1) The spread over an issuer's spot rate curve, developed as a measure of
A pay premium of 50 percent of the regular rate of pay that is earned
A physical inventory count taken on a repetitive basis.
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.
A system that continually tracks all additions to and deletions
A manual or automated inventory tracking system in which
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 manual count of the on-hand inventory.
A firm that reacts to excess supply or excess demand by adjusting price rather than quantity. Contrast with quantity adjuster.
the actual time consumed performing the
A firm that reacts to excess supply or excess demand by adjusting quantity rather than price. Contrast with price adjuster.
Raw materials inventory
The total cost of all component parts currently in stock that
A real time stock or bond quote is one that states a security's most recent offer to sell or bid (buy).
The process of comparing book to actual inventory balances,
return Return earned on an asset normalized for the amount of risk associated with that asset.
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
A probability used to determine a "sure" expected value (sometimes called a
Adjustment to correct measures for changes that happen for seasonal reasons.
Very high inventory levels built up in anticipation of large
the actual time consumed performing the functions
Parts for which the on-hand quantity exceeds forecasted
A device used to stamp an employee’s incoming or outgoing time
Interest-bearing deposit at a savings institution that has a specific maturity.
See term deposit.
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 to maturity
The time remaining until a financial contract expires. Also called time until expiration.
Time until expiration
The time remaining until a financial contract expires. Also called time to maturity.
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