|just-in-time manufacturing system|
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Definition of just-in-time manufacturing system
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
Schedule of depreciation rates allowed for tax purposes.
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
a valuation method that uses actual direct
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.
A racking system using automated systems
Related: Premium payback period.
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
Line depicting the operating activities and cash flows for a firm over a particular period.
a system using transfer prices; see transfer
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
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
cost control system
a logical structure of formal and/or informal
cost management system (CMS)
a set of formal methods
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
Du Pont system
A breakdown of ROE and ROA into component ratios.
Dupont system of financial control
Highlights the fact that return on assets (ROA) can be expressed in terms
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
enterprise resource planning (ERP) system
a packaged software program that allows a company to
Enterprise resource planning system
A computer system used to manage all company
European Monetary System (EMS)
An exchange arrangement formed in 1979 that involves the currencies
Federal Reserve System
The central bank of the U.S., established in 1913, and governed by the Federal
Federal Reserve System
The central banking authority responsible for monetary policy in the United States.
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
hybrid costing system
a costing system combining characteristics
the amount of time spent in storing inventory or
Imputation tax system
Arrangement by which investors who receive a dividend also receive a tax credit for
the time taken to perform quality control activities
Canada's bank machine and electronic debit system. If you use your bank card at a bank machine which displays the Interac symbol (and that bank machine is not your bank's machine), you will be charged a fee.
A transaction used to adjust the book balance of an inventory
job order costing system
a system of product costing used
judgmental method (of risk adjustment)
an informal method of adjusting for risk that allows the decision maker
Just-in-time inventory systems
systems that schedule materials/inventory to arrive exactly as they are
a philosophy about when to do something;
A cluster of manufacturing, design, and delivery practices designed to
The term for several manufacturing innovations that
a system that maps the skill sets employees
see cycle time
system whereby customers send payments to a post office box and a local bank collects and processes checks.
MACRS (Modified Accelerated Cost Recovery System)
A depreciation method created by the IRS under the Tax Reform Act of 1986. Companies must use it to depreciate all plant and equipment assets installed after December 31, 1986 (for tax purposes).
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
a linear or U-shaped production grouping of workers or machines
manufacturing cycle efficiency (MCE)
a ratio resulting from dividing the actual production time by total lead time;
Manufacturing resource planning
An integrated, computerized system for planning
manufacturing resource planning (MRP II)
a fully integrated materials requirement planning system that involves
Manufacturing resource planning (MRP II)
An expansion of the material requirements planning concept, with additional computer-based capabilities in the areas of
A money manager who assumes he or she can forecast when the stock market will go up and down.
Modified Accelerated Cost Recovery System (MACRS)
Depreciation method that allows higher tax deductions in early years and lower deductions later.
A technical trading strategy that combines mechanical rules, such as the CRISMA
Net adjusted present value
The adjusted present value minus the initial cost of an investment.
Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also
normal cost system
a valuation method that uses actual
Option-adjusted spread (OAS)
1) The spread over an issuer's spot rate curve, developed as a measure of
system whereby a depositor may write cheques in excess of the balance, with the bank automatically extending a loan to cover the shortage.
A pay premium of 50 percent of the regular rate of pay that is earned
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
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.
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
A bank machine network outside Canada, across the U.S. and internationally. Customers who use a bank machine with a 'PLUS' symbol may be charged a fee.
A firm that reacts to excess supply or excess demand by adjusting price rather than quantity. Contrast with quantity adjuster.
See market mechanism.
process costing system
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
the actual time consumed performing the
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
a production system dictated by product sales
A materials flow concept in which parts are only withdrawn after a
the traditional production system in which
A materials flow concept in which parts are issued based on planned
A firm that reacts to excess supply or excess demand by adjusting quantity rather than price. Contrast with price adjuster.
A real time stock or bond quote is one that states a security's most recent offer to sell or bid (buy).
an inventory ordering system in which a red
responsibility accounting system
an accounting information system for successively higher-level managers about the performance of segments or subunits under the control
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.
the actual time consumed performing the functions
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
standard cost system
a valuation method that uses predetermined
Common to all businesses.
Also called undiversifiable risk or market risk, the minimum level of risk that can be
The amount of total risk that cannot be eliminated by portfolio
Systematic risk principle
Only the systematic portion of risk matters in large, well-diversified portfolios.
systematic withdrawal plan
Plans offered by mutual fund companies that allow unitholders to receive payment from their investment at regular intervals.
A device used to stamp an employee’s incoming or outgoing time
Interest-bearing deposit at a savings institution that has a specific maturity.
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