|P&S (P and S)|
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Definition of P&S (P and S)
P&S (P and S)
Purchase and sale statement. A statement provided by the broker showing change in the customer's net
An alteration in the accounting methodology or estimates used in
Cash flow provided by operating
The ratio of net income to net sales.
Money after-tax rate of return minus the inflation rate.
The second-largest stock exchange in the United States. It trades
a method of allocating joint cost to joint products using a
A debt or equity security not classified as a held-to-maturity security or a trading security. Can be classified as a current or noncurrent investment depending on the intended holding period.
The difference between exports and imports of goods.
A statistical compilation formulated by a sovereign nation of all economic transactions
The difference between the demand for and supply of a country's currency on the foreign exchange market.
A statement of a country's transactions with other countries.
net flow of goods (exports minus imports) between countries.
See balance of merchandise trade.
Also called the statement of financial condition, it is a summary of the assets, liabilities, and
A “snapshot” statement that freezes a company on a particular day, like the last day of the year, and shows the balances in its asset, liability, and stockholders’ equity accounts. It’s governed by the formula:
A financial statement showing the financial position of a business – its assets, liabilities and
One of the basic financial statements; it lists the assets, liabilities, and equity accounts of the company. The balance Sheet is prepared using the balances at the end of a specific day.
A term often used instead of the more formal and correct
A report that summarizes all assets, liabilities, and equity for a company
Financial statement that shows the value of the
A financial report showing the status of a company's assets, liabilities, and owners' equity on a given date.
Balance sheet exposure
Balance sheet identity
Total Assets = Total Liabilities + Total Stockholders' Equity
The multiplier associated with a change in government spending financed by an equal change in taxes.
An investment company that invests in stocks and bonds. The same as a balanced mutual fund.
Balanced mutual fund
This is a fund that buys common stock, preferred stock and bonds. The same as a
A system of non-financial performance measurement that links innovation, customer and process measures to financial performance.
balanced scorecard (BSC)
an approach to performance
Gives the lessee the option to Purchase the asset at a price below fair market
In a balance of payments, the basic balance is the net balance of the combination of the current
a listing of service departments in an order that begins with the one providing the most service
A method of securities distribution/ underwriting in which the securities firm agrees to sell
Bill of exchange
General term for a document demanding payment.
An individual who is paid a commission for executing customer orders. Either a floor broker who
An agent who handles public orders to buy or sell financial assets.
Broker loan rate
Related: Call money rate.
A market where an intermediary offers search services to buyers and sellers.
Cash flow after interest and taxes
net income plus depreciation.
Cash Flow Provided by Operating Activities
With some exceptions, the cash effects of transactions
Cash Flow Provided or Used from Financing Activities
Cash receipts and payments involving
Cash Flow Provided or Used from Investing Activities
Cash receipts and payments involving
A statement that shows where a company’s cash came from and where it went for a period of time, such as a year.
Cash Flow statement
A financial report that shows the movement in cash for a business during an accounting period.
Change in Accounting Estimate
A change in accounting that occurs as the result of new information
Change in Accounting Estimate
A change in the implementation of an existing accounting
Change in Accounting Principle
A change from one generally accepted accounting principle to another generally accepted accounting principle—for example, a change from capitalizing expenditures
Change in Reporting Entity
A change in the scope of the entities included in a set of, typically, consolidated financial statements.
Changes in Financial Position
Sources of funds internally provided from operations that alter a company's
Chicago Mercantile Exchange (CME)
A not-for-profit corporation owned by its members. Its primary
Clear a position
To eliminate a long or short position, leaving no ownership or obligation.
A transaction in which the Purchaser's intention is to reduce or eliminate a short position in
A transaction in which the seller's intention is to reduce or eliminate a long position in a stock,
A broker on the floor of an exchange acts as agent for a particular brokerage house and
Commodities Exchange Center (CEC)
The location of five New York futures exchanges: Commodity
common-size balance sheet
balance sheet that presents items as a percentage of total assets.
common-size income statement
Income statement that presents items as a percentage of revenues.
An excess balance that is left in a bank to provide indirect compensation for loans
Voluntary arrangement to restructure a firm's debt, under which payment is reduced.
A type of agreement to sell whereby a seller retains title to goods sold and delivered to a Purchaser until full payment has been made.
Conditional Sale Agreement
An agreement entered into between a conditional buyer and a conditional seller setting out the terms under which goods change hands.
Conditional sales contracts
Similar to equipment trust certificates except that the lender is either the
Contingent deferred sales charge (CDSC)
The formal name for the load of a back-end load fund.
An annual statement filed by a life insurance company in each state where it does
Convertible exchangeable preferred stock
Convertible preferred stock that may be exchanged, at the
Cost of sales
The manufacture or Purchase price of goods sold in a period or the cost of providing a service.
Cumulative Effect of a Change in Accounting Principle
The change in earnings of previous years
Cumulative Effect of Accounting Change
The change in earnings of previous years assuming
Days' sales in inventory ratio
The average number of days' worth of sales that is held in inventory.
Days' sales outstanding
Average collection period.
An accelerated depreciation method that calculates depreciation each year by applying a fixed rate to the asset’s book (cost–accumulated depreciation) value. Depreciation stops when the asset’s book value reaches its salvage value.
A method of depreciation.
Under certain circumstances, taxation rules assume that a transfer of property has occurred, even though there has not been an actual Purchase or sale. This could happen upon death or transfer of ownership.
Direct stock-purchase programs
The Purchase by investors of securities directly from the issuer.
Domestic International Sales Corporation (DISC)
A U.S. corporation that receives a tax incentive for
Method of accelerated depreciation.
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,
External Financial Statements
Corporate financial statements that have been reported on by an external independent accountant.
Fallacy of Composition
The incorrect conclusion that something that is true for an individual is necessarily true for the economy as a whole.
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