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Definition of Net change
This is the difference between a day's last trade and the previous day's last trade.
A leading futures and options exchange in Singapore.
An alteration in the accounting methodology or estimates used in
The second-largest stock exchange in the United States. It trades
a method of allocating joint cost to joint products using a
General term for a document demanding payment.
A change in accounting that occurs as the result of new information
A change in the implementation of an existing accounting
A change from one generally accepted accounting principle to another generally accepted accounting principle—for example, a change from capitalizing expenditures
A change in the scope of the entities included in a set of, typically, consolidated financial statements.
Sources of funds internally provided from operations that alter a company's
A not-for-profit corporation owned by its members. Its primary
The location of five New York futures exchanges: Commodity
Convertible preferred stock that may be exchanged, at the
The change in earnings of previous years
The change in earnings of previous years assuming
Effective Exchange Rate
The weighted average of several exchange rates, where the weights are determined by the extent of our trade done with each country.
Electronic data interchange (EDI)
The exchange of information electronically, directly from one firm's
electronic data interchange (EDI)
the computer-to-computer transfer of information in virtual real time using standardized formats developed by the American National Standards Institute
Embodied Technical Change
Technical change that can be used only when new capital embodying this technical change is produced.
A change to a product’s specifications as issued by the engineering
engineering change order (ECO)
a business mandate that changes the way in which a product is manufactured or a
Equation of Exchange
The quantity theory equation Mv = PQ.
European Monetary System (EMS)
An exchange arrangement formed in 1979 that involves the currencies
The marketplace in which shares, options and futures on stocks, bonds, commodities and indices
Governmental restrictions on the purchase of foreign currencies by domestic citizens or
Exchange of assets
Acquisition of another company by purchase of its assets in exchange for cash or stock.
Exchange of stock
Acquisition of another company by purchase of its stock in exchange for cash or shares.
An offer by the firm to give one security, such as a bond or preferred stock, in exchange for
The price of one country's currency expressed in another country's currency.
Amount of one currency needed to purchase one unit of another.
Exchange Rate Mechanism (ERM)
The methodology by which members of the EMS maintain their
Exchange Rate, Nominal
The price of one currency in terms of another, in this book defined as number of units of foreign currency per dollar.
Exchange Rate, Real
The nominal exchange rate corrected for price level differences.
Exchange rate risk
Also called currency risk, the risk of an investment's value changing because of currency
The variability of a firm's value that results from unexpected exchange rate changes or the
Security that grants the security holder the right to exchange the security for the
expectations theory of exchange rates
Theory that expected spot exchange rate equals the forward rate.
Offsetting exposures in one currency with exposures in the same or another currency,
Firm's net value of debt
Total firm value minus total firm debt.
A country's decision to tie the value of its currency to another country's currency, gold
Fixed Exchange Rate
An exchange rate held constant by a government promise to buy or sell dollars at the fixed rate on the foreign exchange market.
Flexible Exchange Rate
An exchange rate whose value is determined by the forces of supply and demand on the foreign exchange market.
Floating exchange rate
A country's decision to allow its currency value to freely change. The currency is not
Floating Exchange Rate
See flexible exchange rate.
Currency from another country.
The currency of a foreign country.
Foreign exchange controls
Various forms of controls imposed by a government on the purchase/sale of
Foreign exchange dealer
A firm or individual that buys foreign exchange from one party and then sells it to
Foreign Exchange Market
A worldwide market in which one country's currency is bought or sold in exchange for another country's currency.
Foreign Exchange Reserves
A fund containing the central bank's holdings of foreign currency or claims thereon.
Foreign exchange risk
The risk that a long or short position in a foreign currency might have to be closed out
Foreign exchange swap
An agreement to exchange stipulated amounts of one currency for another currency
Forward Exchange Market
A market in which foreign exchange can be bought or sold for delivery (and payment) at some specified future date but at a price agreed upon now.
Forward exchange rate
Exchange rate fixed today for exchanging currency at some future date.
forward rate of exchange
Exchange rate for a forward transaction.
Gold exchange standard
A system of fixing exchange rates adopted in the Bretton Woods agreement. It
Historical exchange rate
An accounting term that refers to the exchange rate in effect when an asset or
International Monetary Fund
An organization founded in 1944 to oversee exchange arrangements of
International Monetary Fund (IMF)
Organization originally established to manage the postwar fixed exchange rate system.
International Monetary Market (IMM)
A division of the CME established in 1972 for trading financial
Internet business model
a model that involves
a mechanism for sharing information and delivering data from corporate databases to the local-area network (LAN) desktops
London International Financial Futures Exchange (LIFFE)
A London exchange where Eurodollar futures
London International Financial Futures Exchange (LIFFE)
London exchange where Eurodollar futures as well as futures-style options are traded.
Medium of Exchange
Any item that can be commonly exchanged for goods and services.
School of economic thought stressing the importance of the money supply in the economy. Adherents believe that the economy is inherently stable, so that policy is best undertaken through adoption of a policy rule.
Proposal that the money supply be increased at a steady rate equal approximately to the real rate of growth of the economy. Contrast with discretionary policy.
Any measure of the economy's money supply.
See money base.
Gold held by governmental authorities as a financial asset.
Monetary / non-monetary method
Under this translation method, monetary items (e.g. cash, accounts
Actions taken by the Board of Governors of the Federal Reserve System to influence the
Actions taken by the central bank to change the supply of money and the interest rate and thereby affect economic activity.
Monetizing the Debt
See printing money.
Net adjusted present value
The adjusted present value minus the initial cost of an investment.
Net advantage of refunding
The net present value of the savings from a refunding.
Net advantage to leasing
The net present value of entering into a lease financing arrangement rather than
Net advantage to merging
The difference in total post- and pre-merger market value minus the cost of the merger.
net asset value
The value of all the holdings of a mutual fund, less the fund's liabilities.
Net asset value (NAV)
The value of a fund's investments. For a mutual fund, the net asset value per share
The difference between total assets on the one hand and current liabilities and noncapitalized longterm
Net benefit to leverage factor
A linear approximation of a factor, T*, that enables one to operationalize the
Net book value
The current book value of an asset or liability; that is, its original book value net of any
Net Cash after Operations
Cash flow available for debt service—the payment of interest and principal on loans. Generally calculated as cash provided by operating activities before interest
Net cash balance
Beginning cash balance plus cash receipts minus cash disbursements.
net cost of normal spoilage
the cost of spoiled work less the estimated disposal value of that work
Net Domestic Product
GDP minus depreciation.
Net errors and omissions
In balance of payments accounting, net errors and omissions record the statistical
Exports minus imports.
Net financing cost
Also called the cost of carry or, simply, carry, the difference between the cost of financing
Sum of disbursement float and collection float.
Difference between payment float and availability float.
The company's total earnings, reflecting revenues adjusted for costs of doing business,
The profit a company makes after cost of goods sold, expenses, and taxes are subtracted from net sales.
The last line of the Income Statement; it represents the amount that the company earned during a specified period.
The excess of revenues over expenses, including the impact of income taxes.
net income (also called the bottom line, earnings, net earnings, and net
The current inventory balance, less allocated or reserved items.
Gross, or total, investment minus depreciation.
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