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Definition of Net Pay
The amount of an employee’s wages payable after all tax and other deductions have been removed.
Reducing fund transfers between affiliates to only a netted amount. netting can be done on
A credit card into which a company directly deposits an employee's net pay.
net pay not collected by an employee, which is typically transferred
Same as PV, but usually includes a subtraction for an initial cash outlay.
Money owed to suppliers.
A statistical compilation formulated by a sovereign nation of all economic transactions
The lease payment at which a party to a prospective lease is indifferent between
The prepayment rate of a MBS coupon that will produce the same CFY as that of
A computerized clearing system for sterling funds
An international wire transfer system for high-value
A bond's interest payments.
A range of payout ratios that is typical based on an analysis of comparable firms.
Date dividend checks are mailed.
A transaction in which the buyer's payment for securities is due at the time of
An investment decision rule in which the cash flows are discounted at an
Dividend payout ratio
Percentage of earnings paid out as dividends.
European Monetary System (EMS)
An exchange arrangement formed in 1979 that involves the currencies
Offsetting exposures in one currency with exposures in the same or another currency,
Feasible target payout ratios
payout ratios that are consistent with the availability of excess funds to make
FHA prepayment experience
The percentage of loans in a pool of mortgages outstanding at the origination
Firm's net value of debt
Total firm value minus total firm debt.
In an interest rate swap the counterparty who pays a fixed rate, usually in exchange for a
In an interest rate swap, the counterparty who pays a rate based on a reference rate,
See: financial lease.
Graduated-payment mortgages (GPMs)
A type of stepped-payment loan in which the borrower's payments
Contractual debt payments based on the coupon rate of interest and the principal amount.
International Monetary Fund
An organization founded in 1944 to oversee exchange arrangements of
International Monetary Market (IMM)
A division of the CME established in 1972 for trading financial
Lag response of prepayments
There is typically a lag of about three months between the time the weighted
The characteristic of the scheduled principal and interest payments due under a mortgage such that
Gold held by governmental authorities as a financial asset.
Actions taken by the Board of Governors of the Federal Reserve System to influence the
Monetary / non-monetary method
Under this translation method, monetary items (e.g. cash, accounts
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 (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 balance
Beginning cash balance plus cash receipts minus cash disbursements.
This is the difference between a day's last trade and the previous day's last trade.
Net errors and omissions
In balance of payments accounting, net errors and omissions record the statistical
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.
The company's total earnings, reflecting revenues adjusted for costs of doing business,
Gross, or total, investment minus depreciation.
A lease arrangement under which the lessee is responsible for all property taxes, maintenance
Net operating losses
Losses that a firm can take advantage of to reduce taxes.
Net operating margin
The ratio of net operating income to net sales.
The period of time between the end of the discount period and the date payment is due.
Net present value (NPV)
The present value of the expected future cash flows minus the cost.
Net present value of growth opportunities
A model valuing a firm in which net present value of new
Net present value of future investments
The present value of the total sum of NPVs expected to result from
Net present value rule
An investment is worth making if it has a positive NPV. Projects with negative NPVs
Net profit margin
net income divided by sales; the amount of each sales dollar left over after all expenses
Net salvage value
The after-tax net cash flow for terminating the project.
Net working capital
Current assets minus current liabilities. Often simply referred to as working capital.
Common stockholders' equity which consists of common stock, surplus, and retained earnings.
Reducing transfers of funds between subsidiaries or separate companies to a net amount.
To get or bring in as a net; to clear as profit.
Payable through drafts
A method of making payment that is used to maintain control over payments made
Related: Accounts payable.
The length of time it takes to recover the initial cost of a project, without regard to the time value of money.
In a Treasury refunding, the amount by which the par value of the securities maturing exceeds that
The date on which each shareholder of record will be sent a check for the declared dividend.
Company-written checks that have not yet cleared.
escribes the lagged collection pattern of receivables, for instance the probability that a
Generally, the proportion of earnings paid out to the common stockholders as cash dividends.
The loss of cash resulting from a swap into higher price bonds or the need/willingness of a bank or
bond A bond that gives the issuer an option (during an initial period) either to make
Also called speed, the estimated rate at which mortgagors pay off their loans ahead of
payments made in excess of scheduled mortgage principal repayments.
Production payment financing
A method of nonrecourse asset-based financing in which a specified
The minimum available return that will trigger an immunization strategy in a contingent
SIMEX (Singapore International Monetary Exchange)
A leading futures and options exchange in Singapore.
A bond that will make only one payment of principal and interest.
A contract that obligates the purchaser to take any product that is offered to it (and pay
Target payout ratio
A firm's long-run dividend-to-earnings ratio. The firm's policy is to attempt to pay out a
assumption The assumption of payment of scheduled principal and interest with no payments.
Amounts a company owes to creditors.
The profit a company makes after cost of goods sold, expenses, and taxes are subtracted from net sales.
NET SALES (revenue)
The amount sold after customers’ returns, sales discounts, and other allowances are taken away from
RATIO OF NET INCOME TO NET SALES
A ratio that shows how much net income (profit) a company made on each dollar of net sales. Here’s the formula:
RATIO OF NET SALES TO NET INCOME
A ratio that shows how much a company had to collect in net sales to make a dollar of profit. Figure it this way:
Net present value (NPV)
A discounted cash flow technique used for investment appraisal that calculates the present value of future cash flows and deducts the initial capital investment.
See operating profit.
A method of investment appraisal that calculates the number of years taken for the cash flows from an investment to cover the initial capital outlay.
A payment made in advance of when it is treated as an expense for profit purposes.
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.
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.
Amounts owed by the company that have been formalized by a legal document called a bond.
The amount of interest that is owed but has not been paid at the end of a period.
Amounts that have been loaned to the company and that it still owes.
The last line of the Income Statement; it represents the amount that the company earned during a specified period.
Amounts owed by the company that have been formalized by a legal document called a note.
The date established for the payment of a declared dividend.
The amount paid to employees for services rendered; synonymous with salary expense and wage expense.
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