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Definition of Leakage
Release of information to some persons before official public announcement.
a decrease in units arising from an inherent characteristic
A term describing the loss of products from inventory
A shortfall between inventory based on actual physical counts and inventory
The expected loss of some proportion of an item during the
Date on which particular news concerning a given company is announced to the public.
Dollar deposits held in Singapore or other Asian centers.
information that is known to some people but not to other people.
The ratio of net income before taxes to net sales.
The market model applied to a single security. The slope of the line is a security's beta.
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
A financial measure defined as revenues less cost of goods sold
The expected value if the future uncertain outcomes could be known
A situation involving information that is known to some, but not all, participants.
Information Coefficient (IC)
The correlation between predicted and actual stock returns, sometimes used to
Transaction costs that include the assessment of the investment merits of a financial asset.
Organizations that furnish investment and other types of information, such as
The rise in the stock price following the dividend signal.
The speed and accuracy with which prices reflect new information.
Trades that are the result of either a reallocation of wealth or an implementation of an
Trades in which an investor believes he or she possesses pertinent
Initial public offering (IPO)
A company's first sale of stock to the public. Securities offered in an IPO are
Relevant information about a company that has not yet been made public. It is illegal for
In-house processing float
Refers to the time it takes the receiver of a check to process the payment and
Holdings of gold and foreign currencies by official monetary institutions.
A statement published by an issuer of a new municipal security describing itself and the issue
Official unrequited transfers
Include a variety of subsidies, military aid, voluntary cancellation of debt,
Price discovery process
The process of determining the prices of the assets in the marketplace through the
Production payment financing
A method of nonrecourse asset-based financing in which a specified
An agreement by the loan purchaser to allow the monthly loan quota to be
The sale of registered securities by the issuer (or the underwriters acting in the interests of the
Public Securities Administration (PSA)
The trade association for primary dealers in U.S. government
Warehouse operated by an independent warehouse company on its own premises.
Publicly traded assets
Assets that can be traded in a public market, such as the stock market.
Security characteristic line
A plot of the excess return on a security over the risk-free rate as a function of
UNITS OF PRODUCTION
A depreciation method that relates a machine’s depreciation to the number of units it makes each
Earnings before interest and taxes (EBIT)
The operating profit before deducting interest and tax.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
The operating profit before deducting interest, tax, depreciation and amortization.
A general term referring to period costs, such as selling, administration and financial expenses.
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.
A general term referring to indirect costs.
Profit before interest and taxes (PBIT)
earnings before interest and income tax (EBIT)
A measure of profit that
business process reengineering (BPR)
the process of combining information technology to create new and more effective
cost-benefit analysis the analytical process of comparing the
relative costs and benefits that result from a specific course
cost of production report
a process costing document that
economic production run (EPR)
an estimate of the number
equivalent units of production (EUP)
an approximation of the number of whole units of output that could have been
FIFO method (of process costing)
the method of cost assignment that computes an average cost per equivalent
bits of knowledge or fact that have been carefully
a manufacturing process that simultaneously
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
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
benchmarking that focuses on practices and how the best-in-class companies achieved their results
an assessment about the number of processes through which a product flows
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 flowchart or diagram indicating every step
the total units produced during a period
process quality yield
the proportion of good units that resulted from the activities expended
product- (or process-) level cost
a cost that is caused by the development, production, or acquisition of specific products or services
statistical process control (SPC)
the use of control techniques that are based on the theory that a process has natural variations in it over time, but uncommon variations
strict FIFO method (of process costing)
the method of cost assignment that uses FIFO to compute a cost per equivalent unit and, in transferring units from a department, keeps the
total units to account for
the sum of the beginning inventory
units started and completed
the difference between the number of units completed for the period and the units in beginning inventory; it can also be computed as the number of units started during the period minus the units in ending inventory
weighted average method (of process costing)
the method of cost assignment that computes an average cost per
Statistical assumptions about the behavior of security prices. For
The process of offering a company’s shares for sale to the public through an
A series of linked activities that result in a specific objective. For example, the
A costing methodology that arrives at an individual product cost through the calculation of average costs for large quantities of identical products.
Production yield variance
The difference between the actual and budgeted proportions
The sale of new securities to the investing public.
Inventory that has been partially converted through the
information content of dividends
Dividend increases send good news about cash flow and earnings. Dividend cuts send bad news.
initial public offering (IPO)
First offering of stock to the general public.
Aggregate Production Function
An equation determining aggregate output as a function of aggregate inputs such as labor and capital.
Factor of Production
A resource used to produce a good or service. The main macroeconomic factors of production are capital and labor.
Official Settlements Account
An account within the balance of payments accounts showing the change in a country's official foreign exchange reserves. It is used to measure a balance of payments deficit or surplus.
See national debt.
Publicly Held National Debt
See national debt.
Walsh-Healey Public Contracts Act of 1936
A federal Act that forces government contractors to comply with the government’s minimum wage and hour rules.
Accounting and Auditing Enforcement Release (AAER)
Administrative proceedings or litigation Releases that entail an accounting or auditing-related violation of the securities laws.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
An earningsbased measure that, for many, serves as a surrogate for cash flow. Actually consists of working
EBBS - Earnings before the bad stuff
An acronym attributed to a member of the Securities and
EBDDT - Earnings before depreciation and deferred taxes
This measure is used principally by
official SEC record of a settlement or a hearing scheduled before a civil
Public Oversight Board
An independent private-sector body that oversees the audit practices
Purchased In-Process Research and Development
Unfinished research and development that is acquired from another firm.
The technique of stripping all non-value-added activities from
Process flow production
A production configuration in which products are continually
Material that has been reworked and returned to stock.
Any items being converted into finished goods or Released from
Medical Information Bureau
This organization was established in 1902. The Medical information Bureau (M.I.B.) is a non-profit association of life insurance companies. Its purpose is to detect and deter fraud by providing warnings called, alerts, to member companies. For example, if an insurance applicant advised one insurance company of a heart attack and then applied to another insurance company omitting this history, codes, reported by the first insurance company, indicating a heart attack would alert the second insurance company to the undisclosed history. It is a rarity, however, that the alert is the only notice of a specific medical impairement as most applicants completely disclose their history.
Future-Oriented Financial Information
information about prospective results of operations, financial position and/or changes in financial position, based on assumptions about future economic conditions and courses of action. Future-oriented financial information is presented as either a forecast or a projection.
Initial Public Offering
A firms first offering of its shares to the investment public, after registration requirements of the various securities regulators have been met.
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