|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.
Publicly traded issues that may be collateralized by mortgages and MBSs.
The net present value analysis of an asset if financed solely by equity
Related: Premium payback period.
Line depicting the operating activities and cash flows for a firm over a particular period.
A computerized clearing system for sterling funds
An international wire transfer system for high-value
An entry in a translated balance sheet in which gains
Highlights the fact that return on assets (ROA) can be expressed in terms
An exchange arrangement formed in 1979 that involves the currencies
The central bank of the U.S., established in 1913, and governed by the Federal
Arrangement by which investors who receive a dividend also receive a tax credit for
systems that schedule materials/inventory to arrive exactly as they are
A money manager who assumes he or she can forecast when the stock market will go up and down.
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
Option-adjusted spread (OAS)
1) The spread over an issuer's spot rate curve, developed as a measure of
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
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.
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
Common to all businesses.
Also called undiversifiable risk or market risk, the minimum level of risk that can be
Systematic risk principle
Only the systematic portion of risk matters in large, well-diversified portfolios.
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.
Two-tier tax system
A method of taxation in which the income going to shareholders is taxed twice.
Also called the diversifiable risk or residual risk. The risk that is unique to a company
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).
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
The entries needed at the end of an accounting period to properly state certain account balances.
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.
times interest earned
A ratio that tests the ability of a business to make
The amount of total risk that cannot be eliminated by portfolio
Times Interest Earned Ratio
A measure of how well a company is able to meet its interest
The amount of total risk that can be eliminated by diversification by
actual cost system
a valuation method that uses actual direct
business intelligence (BI) system
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
a system using transfer prices; see transfer
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 time between the placement of an order to
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
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
the time taken to perform quality control activities
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
a philosophy about when to do something;
a system that maps the skill sets employees
see cycle time
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 (MRP II)
a fully integrated materials requirement planning system that involves
normal cost system
a valuation method that uses actual
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
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
a production system dictated by product sales
the traditional production system in which
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
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
standard cost system
a valuation method that uses predetermined
representation of the amounts and timing of all
the time consumed by moving products or
an inventory ordering system in which two
The term for several manufacturing innovations that
Manufacturing resource planning (MRP II)
An expansion of the material requirements planning concept, with additional computer-based capabilities in the areas of
Du Pont system
A breakdown of ROE and ROA into component ratios.
system whereby customers send payments to a post office box and a local bank collects and processes checks.
Modified Accelerated Cost Recovery System (MACRS)
Depreciation method that allows higher tax deductions in early years and lower deductions later.
Federal Reserve System
The central banking authority responsible for monetary policy in the United States.
A firm that reacts to excess supply or excess demand by adjusting price rather than quantity. Contrast with quantity adjuster.
See market mechanism.
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.
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