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Definition of kanban
the Japanese word for card; it was the original name
Abrams’ model for calculating DLOM based on the interaction of discounts from four economic components.
Schedule of depreciation rates allowed for tax purposes.
A protection against borrower fallout risk in the mortgage pipeline.
A collection of 32 regional electronic interbank networks used to
Brokerage firms that help to find potential buyers or sellers of large block trades.
Certificates of Amortized Revolving Debt. Pass-through securities backed by credit card receivables.
A computerized clearing system for sterling funds
An international wire transfer system for high-value
An adjunct to a futures exchange through which transactions executed its floor are settled by a
A firm which buys and sells future contracts for customer accounts. Related: futures
The location of five New York futures exchanges: Commodity
The time that elapses between receipt of payment from a customer and the
A conception of the way a stock's price changes that assumes that the price takes on all
Highlights the fact that return on assets (ROA) can be expressed in terms
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
Warehouse rented by a warehouse company on another firm's premises.
Imputation tax system
Arrangement by which investors who receive a dividend also receive a tax credit for
Total amount of dividends that would be paid on a share of stock over the next 12 months
The yield, based on the most recent quarterly rate times four. To determine the yield, divide
A clause in a contract providing for increases or decreases in inflation based on
In-house processing float
Refers to the time it takes the receiver of a check to process the payment and
Just-in-time inventory systems
systems that schedule materials/inventory to arrive exactly as they are
Money center banks
Banks that raise most of their funds from the domestic and international money markets, relying less on depositors for funds.
Such a clause on a Euro loan permits the borrower to switch from one currency to
A technical trading strategy that combines mechanical rules, such as the CRISMA
Negative pledge clause
A bond covenant that requires the borrower to grant lenders a lien equivalent to any
Net working capital
Current assets minus current liabilities. Often simply referred to as working capital.
Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also
Original face value
The principal amount of the mortgage as of its issue date.
Original issue discount debt (OID debt)
Debt that is initially offered at a price below par.
The margin needed to cover a specific new position. Related: Margin, security deposit (initial)
Maturity at issue. For example, a five year note has an original maturity of 5 years; one
Price discovery process
The process of determining the prices of the assets in the marketplace through the
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
Warehouse operated by an independent warehouse company on its own premises.
A central financial subsidiary used by an MNC to reduce transaction exposure by having
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
Describes securities held by a broker on behalf of a client but registered in the name of the Wall Street firm.
A provision in a bond indenture that restricts the issuer's future borrowing by
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.
A firm which deals in actual commodities.
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
Evidence that a firm owns goods stored in a warehouse.
Gains equal losses.
An asset which has a limited life and thus, decreases in value (depreciates) over time. Also
Wild card option
The right of the seller of a Treasury Bond futures contract to give notice of intent to deliver
A firm operating a private wire to its own branch offices or to other firms, commission houses or
Defined as the difference in current assets and current liabilities (excluding short-term
Working capital management
The management of current assets and current liabilities to maximize shortterm liquidity.
Working capital ratio
working capital expressed as a percentage of sales.
Informal arrangement between a borrower and creditors.
Realignment period of a temporary misaligned yield relationship that sometimes occurs in
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.
A system of non-financial performance measurement that links innovation, customer and process measures to financial performance.
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 method of costing for continuous manufacture in which costs for an accounting compared are compared with production for the same period to determine a cost per unit produced.
Current assets less current liabilities. Money that revolves in the business as part of the process of buying, making and selling goods and services, particularly in relation to debtors, creditors, inventory and bank.
Goods or services that have commenced the production process but are incomplete and unable to be sold.
Additional paid-in capital
Amounts in excess of the par value or stated value that have been paid by the public to acquire stock in the company; synonymous with capital in excess of par.
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.
The amount of total risk that cannot be eliminated by portfolio
The amount of total risk that can be eliminated by diversification by
a segment of the production or service
actual cost system
a valuation method that uses actual direct
balanced scorecard (BSC)
an approach to performance
business intelligence (BI) system
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
business process reengineering (BPR)
the process of combining information technology to create new and more effective
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-benefit analysis the analytical process of comparing the
relative costs and benefits that result from a specific course
a responsibility center in which the manager has
cost control system
a logical structure of formal and/or informal
cost management system (CMS)
a set of formal methods
when the incremental revenue from the sale of reworked defective units is greater than
enterprise resource planning (ERP) system
a packaged software program that allows a company to
FIFO method (of process costing)
the method of cost assignment that computes an average cost per equivalent
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
hybrid costing system
a costing system combining characteristics
a responsibility center in which the manager
job order costing system
a system of product costing used
a manufacturing process that simultaneously
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
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
modified FIFO method (of process costing)
the method of cost assignment that uses FIFO to compute a cost per
the ability of a worker to monitor
a flexible organization structure that
normal cost system
a valuation method that uses actual
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