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Definition of Kit
A group of components needed to assemble a finished product that has been
An equation determining aggregate output as a function of aggregate inputs such as labor and capital.
Gives the lessee the option to purchase the asset at a price below fair market
an incidental output of a joint process; it is salable,
A product that is an ancillary part of the primary production process, having
A material created incidental to a production process, which can be
The provision of some futures contracts that requires not delivery of underlying assets but
A transaction in which the purchaser's intention is to reduce or eliminate a short position in
a process costing document that
The tender and receipt of an actual commodity or financial instrument in settlement of a futures contract.
The written notice given by the seller of his intention to make delivery against an open, short
The options available to the seller of an interest rate futures contract, including the quality
Those points designated by futures exchanges at which the financial instrument or
A company’s stated goal for how soon a customer order will be
The price fixed by the Clearing house at which deliveries on futures are in invoiced; also the
A transaction in which the buyer's payment for securities is due at the time of
Direct stock-purchase programs
The purchase by investors of securities directly from the issuer.
economic components model
Abrams’ model for calculating DLOM based on the interaction of discounts from four economic components.
economic production run (EPR)
an estimate of the number
An agreement in which one party agrees to pay the other at specific time periods if a specific
equivalent units of production (EUP)
an approximation of the number of whole units of output that could have been
Factor of Production
A resource used to produce a good or service. The main macroeconomic factors of production are capital and labor.
Finished goods inventory
Goods that have been completed by the manufacturing
Finished goods inventory
Completed inventory items ready for shipment to
Interest-rate option that guarantees that the rate on a floating-rate
A member who is paid a fee for executing orders for clearing members or their customers. A
Arrangement used to finance inventory. A finance company buys the inventory, which is then
Low-cost, high-usage inventory items stored near the shop floor,
A member who generally trades only for his own account, for an account controlled by him or
A transaction in which the settlement will occur on a specified date in the future at a price
A delivery in which everything - endorsement, any necessary attached legal papers, etc. - is in
Good delivery and settlement procedures
Refers to PSA Uniform Practices such as cutoff times on delivery
grade (of product or service)
the addition or removal of product
Gross Domestic Product
Total output of final goods and services produced within a country during a year.
Gross domestic product (GDP)
The market value of goods and services produced over time including the
Gross National Product
Total output of final goods and services produced by a country's citizens during a year.
Gross national product (GNP)
Measures and economy's total income. It is equal to GDP plus the income
Group Life Insurance
This is a very common form of life insurance which is found in employee benefit plans and bank mortgage insurance. In employee benefit plans the form of this insurance is usually one year renewable term insurance. The cost of this coverage is based on the average age of everyone in the group. Therefore a group of young people would have inexpensive rates and an older group would have more expensive rates.
Group of five (G5/G-5)
The five leading countries (France, Germany, Japan, United Kingdom, and the U.S.) that
Group of seven (G7/G-7)
The G-5 countries plus Canada and Italy.
Group rotation manager
A top-down manager who infers the phases of the business cycle and allocates
A phase of development in which a company experiences rapid earnings growth as it produces
Interest rate floor
An interest rate agreement in which payments are made when the reference rate falls
Investment product line (IPML)
The line of required returns for investment projects as a function of beta
A product that has the highest sales value from among a group of products
The technique of stripping all non-value-added activities from
Refers to the seller's actually turning over to the buyer the asset agreed upon in a forward contract.
A phase of company development in which earnings continue to grow at the rate of the
For mutual funds, the amount required to open a new account (Minimum Initial
Money purchase plan
A defined benefit contribution plan in which the participant contributes some part and
National Income and Product Accounts
The national accounting system that records economic activity such as GDP and related measures.
Net Domestic Product
GDP minus depreciation.
Net National Product
GNP minus depreciation.
A general term referring to period costs, such as selling, administration and financial expenses.
Open-market purchase operation
A systematic program of repurchasing shares of stock in market
open purchase ordering
a process by which a single purchase
A transaction in which the purchaser's intention is to create or increase a long position in
A practice prohibited by the SEC which involves attempts by a corporation to obtain
Overnight delivery risk
A risk brought about because differences in time zones between settlement centers
A delivery of stock to a location in or near the shop floor
Preferred Stock Stock that has a claim on assets and dividends of a corporation that are prior
to that of common stock. Preferred stock typically does not carry the right to vote.
Process flow production
A production configuration in which products are continually
the total units produced during a period
Any item intended for sale.
an assessment about the number of components in a product
product contribution margin
the difference between selling price and variable cost of goods sold
The cost of goods or services produced.
This is a key factor in the profit model of a business. product
a cost associated with making or acquiring inventory
The total of all costs assigned to a product, typically including direct
The time it takes to bring new and/or improved products to market.
product life cycle
a model depicting the stages through
product line margin
see segment margin
A business’s investment in technology, people and materials in order to make, buy and sell products or services to customers.
product- (or process-) level cost
a cost that is caused by the development, production, or acquisition of specific products or services
A type of mortgage-pipeline risk that occurs when a lender has an unusual loan in production or
See sales mix.
the number of different types of products
An agreement by the loan purchaser to allow the monthly loan quota to be
A general term referring to indirect costs.
Production payment financing
A method of nonrecourse asset-based financing in which a specified
Production yield variance
The difference between the actual and budgeted proportions
the number of total units that could be
Output per unit of input, usually measured as output per hour of labor.
To buy, to be long, to have an ownership position.
Method of accounting for a merger in which the acquirer is treated as having purchased
As used in connection with project financing, an agreement to purchase a specific
This legal document records the final understanding of the parties with respect to the proposed transaction.
Purchase and sale
A method of securities distribution in which the securities firm purchases the securities
A contra account that reduces purchases by the amount of the discounts taken for early payment.
Resembles a sinking fund except that money is used only to purchase bonds if they are selling
Accounting for an acquisition using market value for the consolidation of the two entities'
An accounting method used to combine the financial statements of
Price actually paid for a security. Typically the purchase
A contra account that reduces purchases by the amount of items purchased that were subsequently returned.
Purchased In-Process Research and Development
Unfinished research and development that is acquired from another firm.
Items purchased by the company for the purpose of resale.
A journal used to record the transactions that result in a credit to accounts payable.
the quoted price of inventory minus any
Purchasing power parity
The notion that the ratio between domestic and foreign price levels should equal
Purchasing Power Parity
Theory that says that over the long run exchange rate changes offset any difference between foreign and domestic inflation. This result assumes that the real exchange rate remains constant, something that is not true even in the long run.
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