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Definition of Membership
or a seat on the exchange A limited number of exchange positions that enable the holder to
Assuris is a not for profit organization that protects Canadian policyholders in the event that their life insurance company should become insolvent. Their role is to protect policyholders by minimizing loss of benefits and ensuring a quick transfer of their policies to a solvent company where their benefits will continue to be honoured. Assuris is funded by the life insurance industry and endorsed by government. If you are a Canadian citizen or resident, and you purchased a product from a member life insurance company in Canada, you are protected by Assuris.
The tendency of stocks preferred by the dividend discount model to share certain equity
an extension of activitybased costing using cost-benefit analysis (based on increased customer utility) to choose the product attribute
Related: pure expectations theory.
A theory that spot prices at some future date will be equal to today's forward rates.
capital rationing that under certain circumstances can be violated or even viewed
A method for dividing inventory into classifications,
The use of various forms of gimmickry to distort a company's true financial performance in order to achieve a desired result.
A characterization used by the Securities and exchange
Clause causing repayment of a debt, if specified events occur or are not met.
Belief that an effort to keep unemployment below its natural rate results in an accelerating inflation.
Coverage that provides a lump-sum payment to you or your survivors if an accident results in the loss of a limb, paralysis or your Death.
Coverage against accidental Death usually payable in addition to base amount of coverage.
Provides additional financial security should an insured person be dismembered or lose the use of a limb as the result of an accident.
A monetary policy of matching wage and price increases with money supply increases so that the real money supply does not fall and push the economy into recession.
The sum of all the interest options in your policy, including interest.
Accounting and Auditing Enforcement Release (AAER)
Administrative proceedings or litigation releases that entail an accounting or auditing-related violation of the securities laws.
earnings of a firm as reported on its Income statement.
The principles, bases, conventions, rules and procedures adopted by management in preparing and presenting financial statements.
‘Buckets’ within the ledger, part of the accounting system. Each account contains similar transactions (line items) that are used for the production of financial statements. Or commonly used as an abbreviation for financial statements.
Money owed to suppliers.
Amounts a company owes to creditors.
Amounts owed by the company for goods and services that have been received, but have not yet been paid for. Usually accounts payable involves the receipt of an invoice from the company providing the services or goods.
Short-term, non-interest-bearing liabilities of a business
Acurrent liability on the balance sheet, representing short-term obligations
Amounts due to vendors for purchases on open account, that is, not evidenced
Accounts Payable Days (A/P Days)
The number of days it would take to pay the ending balance
Money owed by customers.
Amounts owed to a company by customers that it sold to on credit. Total accounts receivable are usually reduced by an allowance for doubtful accounts.
Amounts owed to the company, generally for sales that it has made.
Short-term, non-interest-bearing debts owed to a
A current asset on the balance sheet, representing short-term
Amounts due from customers for sales on open account, not evidenced
Money owed to a business for merchandise or services sold on open account.
Accounts Receivable Days (A/R Days)
The number of days it would take to collect the ending
Accounts receivable turnover
The ratio of net credit sales to average accounts receivable, a measure of how
accounts receivable turnover ratio
A ratio computed by dividing annual
Accretion (of a discount)
In portfolio accounting, a straight-line accumulation of capital gains on discount
Accrued expenses payable
Expenses that have to be recorded in order for the financial statements to be accurate. Accrued Expenses usually do not involve the receipt of an invoice from the company providing the goods or services.
accrued expenses payable
The account that records the short-term, noninterest-
Income that has been earned but not yet received. For instance, if you have a non-registered Guaranteed Investment Certificate (GIC), Mutual Fund or Segregated equity Fund, growth accrues annually or semi-annually and is taxable annually even though the gain is only paid at maturity of your investment.
Accumulated Benefit Obligation (ABO)
An approximate measure of the liability of a plan in the event of a
A contra-fixed asset account representing the portion of the cost of a fixed asset that has been previously charged to Expense. Each fixed asset account will have its own associated Accumulated depreciation account.
A contra, or offset, account that is coupled
The sum total of all deprecation Expense recognized to date
Accumulated Other Comprehensive Income
Cumulative gains or losses reported in shareholders'
An amount of money invested plus the interest earned on that money.
A location in which components destined for the shop floor are
also called the quick ratio, the ratio of current assets minus inventories, accruals, and prepaid
A ratio that shows how well a company could pay its current debts using only its most liquid or “quick” assets. It’s a more pessimistic—but also realistic—measure of safety than the current ratio, because it ignores sluggish, hard-toliquidate current assets like inventory and notes receivable. Here’s the formula:
See quick ratio
acid test ratio (also called the quick ratio)
The sum of cash, accounts receivable, and short-term marketable
ad hoc discount
a price concession made under competitive pressure (real or imagined) that does not relate to quantity purchased
A protection against borrower fallout risk in the mortgage pipeline.
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.
Additional paid-in capital
any payment received from investors for stock that exceeds
additional paid-in capital
Difference between issue price and par value of stock. also called capital surplus.
ADF (annuity discount factor)
the present value of a finite stream of cash flows for every beginning $1 of cash flow.
Adjustable rate preferred stock (ARPS)
Publicly traded issues that may be collateralized by mortgages and MBSs.
Adjusted Cash Flow Provided by Continuing Operations
cash flow provided by operating
Net Income adjusted to exclude selected nonrecurring and noncash items of reserve, gain, Expense, and loss.
Adjusted Income from Continuing
Operations Reported Income from continuing operations
Adjusted present value (APV)
The net present value analysis of an asset if financed solely by equity
After-tax profit margin
The ratio of net Income to net sales.
Aggregate Production Function
An equation determining aggregate output as a function of aggregate inputs such as labor and capital.
Total quantity of goods and services supplied.
Aggregate Supply Curve
Combinations of price level and Income for which the labor market is in equilibrium. The short-run aggregate supply curve incorporates information and price/wage inflexibilities in the labor market, whereas the long-run aggregate supply curve does not.
Aggressive Capitalization Policies
capitalizing and reporting as assets significant portions of
Aggressive Cost Capitalization
Cost capitalization that stretches the flexibility within generally
All equity rate
The discount rate that reflects only the business risks of a project and abstracts from the
Total costs, explicit and implicit.
All or none
Requirement that none of an order be executed unless all of it can be executed at the specified price.
An arrangement whereby a security issue is canceled if the underwriter is unable
assign based on the use of a cost driver, a cost predictor,
the systematic assignment of an amount to a recipient
The process of storing costs in one account and shifting them to other
Allocation base A measure of activity or volume such as labour
hours, machine hours or volume of production
Allowance for bad debts
An offset to the accounts receivable balance, against which
Allowance for doubtful accounts
A contra account related to accounts receivable that represents the amounts that the company expects will not be collected.
Allowance for Doubtful Accounts
An estimate of the uncollectible portion of accounts receivable
A method of adjusting accounts receivable to the amount that is expected to be collected based on company experience.
American Depositary Receipts (ADRs)
Certificates issued by a U.S. Depositary bank, representing foreign
An option that may be exercised at any time up to and including the expiration date.
An option that can be exercised any time until its
Securities certificates issued in the U.S. by a transfer agent acting on behalf of the foreign
American Stock Exchange (AMEX)
The second-largest stock exchange in the United States. It trades
An option contract that can be exercised at any time between the date of purchase and
Amortization (Credit Insurance)
Refers to the reduction of debt by regular payments of interest and principal in order to pay off a loan by maturity.
The process of attempting to infer the presence of potential problems
Annual fund operating expenses
For investment companies, the management fee and "other Expenses,"
Annual percentage yield (APY)
The effective, or true, annual rate of return. The APY is the rate actually
Yearly amount payable by a client for a policy or component.
The party applying for an Insurance policy.
A signed statement of facts made by a person applying for life Insurance and then used by the Insurance company to decide whether or not to issue a policy. The application becomes part of the Insurance contract when the policy is issued.
the amount of overhead that has been assigned to Work in Process Inventory as a result of productive activity; credits for this amount are to an overhead account
The signal-to-noise ratio of an analyst's forecasts. The ratio of alpha to residual standard
approximated net realizable value at split-off allocation
a method of allocating joint cost to joint products using a
Arbitrage-free option-pricing models
yield curve option-pricing models.
Arm's length price
The price at which a willing buyer and a willing unrelated seller would freely agree to
Articles of incorporation
Legal document establishing a corporation and its structure and purpose.
A dealer's price to sell a security; also called the offer price.
Asset activity ratios
ratios that measure how effectively the firm is managing its assets.
Asset allocation decision
The decision regarding how an institution's funds should be distributed among the
The ratio of total assets to stockholder equity.
Asset pricing model
A model for determining the required rate of return on an asset.
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