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Financial Terms | |
Paycard |
Information about financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.
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Definition of PaycardPaycardA credit card into which a company directly deposits an employee's net pay.
Related Terms:Accidental Dismemberment: (Credit Insurance)Provides additional financial security should an insured person be dismembered or lose the use of a limb as the result of an accident. Accounts payableMoney owed to suppliers. ACCOUNTS PAYABLEAmounts a company owes to creditors. Accounts payableAmounts 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. accounts payableShort-term, non-interest-bearing liabilities of a business Accounts payableAcurrent liability on the balance sheet, representing short-term obligations Accounts PayableAmounts 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 Accrued expenses payableExpenses 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 payableThe account that records the short-term, noninterest- 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. approximated net realizable value at split-off allocationa method of allocating joint cost to joint products using a Automatic Benefits PaymentAutomatic payment of moneys derived from a benefit. Balance of paymentsA statistical compilation formulated by a sovereign nation of all economic transactions Balance of PaymentsThe difference between the demand for and supply of a country's currency on the foreign exchange market. Balance of Payments AccountsA statement of a country's transactions with other countries. ![]() Balanced ScorecardA system of non-financial performance measurement that links innovation, customer and process measures to financial performance. balanced scorecard (BSC)an approach to performance Beneficiary (Credit Insurance)The person or party designated to receive proceeds entitled by a benefit. payment of a benefit is triggered by an event. In the case of credit insurance, the beneficiary will always be the creditor. Best-interests-of-creditors testThe requirement that a claim holder voting against a plan of reorganization Blue-chip companyLarge and creditworthy company. Bonds payableAmounts owed by the company that have been formalized by a legal document called a bond. Borrower (Credit Insurance)A consumer who borrows money from a lender. Break-even lease paymentThe lease payment at which a party to a prospective lease is indifferent between Break-even payment rateThe prepayment rate of a MBS coupon that will produce the same CFY as that of CARDsCertificates of Amortized Revolving Debt. Pass-through securities backed by credit card receivables. Clear CardA credit card from which payments are deducted over subsequent time periods. Clearing House Automated Payments System (CHAPS)A computerized clearing system for sterling funds Clearing House Interbank Payments System (CHIPS)An international wire transfer system for high-value Commercial Business Loan (Credit Insurance)An agreement between a creditor and a borrower, where the creditor has loaned an amount to the borrower for business purposes. Company AcquisitionsAssets acquired to create money. May include plant, machinery and equipment, shares of another company etc. company cost of capitalExpected rate of return demanded by investors in a company, determined by the average risk of the company’s assets and operations. Company-specific riskRelated: Unsystematic risk Companyspecific RiskSee asset-specific risk Comparative credit analysisA method of analysis in which a firm is compared to others that have a desired Consumer creditcredit granted by a firm to consumers for the purchase of goods or services. Also called Consumer Credit Protection ActA federal Act specifying the proportion of contingent paycompensation that is dependent on the Cost company arrangementArrangement whereby the shareholders of a project receive output free of Coupon paymentsA bond's interest payments. CreditMoney loaned. CreditBuying or selling goods or services now with the intention of payment following at some time in CreditOne side of a journal entry, usually depicted as the right side. CreditA rating of a company's credit (ability to payback debt), usually by a third party credit agency. creditOn your bank statement, 'credit' represents funds that you have deposited into your account. The opposite of a credit is a debit. Credit analysisThe process of analyzing information on companies and bond issues in order to estimate the credit analysisProcedure to determine the likelihood a customer will pay its bills. credit bureauAn organization that provides financial institutions with credit information concerning existing or potential customers who are looking to obtain credit services. credit cardA revolving source of credit with a pre-established limit. You have to pay interest on a credit card if you have an outstanding balance. Credit CrunchA decline in the ability or willingness of banks to lend. Credit enhancementPurchase of the financial guarantee of a large insurance company to raise funds. Credit LossA loan receivable that has proven uncollectible and is written off. credit memoA record of the funds which have been credited to your account. Credit periodThe length of time for which the customer is granted credit. credit policyStandards set to determine the amount and nature of credit to extend to customers. Credit RationingRestriction of loans by lenders so that not all borrowers willing to pay the current interest rate are able to obtain loans. Credit riskThe risk that an issuer of debt securities or a borrower may default on his obligations, or that the Credit RiskFinancial and moral risk that an obligation will not be paid and a loss will result. Credit scoringA statistical technique wherein several financial characteristics are combined to form a single Credit spreadRelated:Quality spread Credit TermsConditions under which credit is extended by a lender to a borrower. Credit Unioncredit unions are community based financial co-operatives and most offer a full range of services. All are owned and controlled by members who are also shareholders. credit unions are regulated provincially and insured by a stabilization fund, deposit insurance or guarantee corporation. Crediting rateThe interest rate offered on an investment type insurance policy. CreditorLender of money. CreditorPerson or business that is owed money. Creditor (Credit Insurance)A lender or lending institution that offers financing and loans to a borrower, for the purpose of acquiring a commodity. Creditor Proof ProtectionThe creditor proof status of such things as life insurance, non-registered life insurance investments, life insurance RRSPs and life insurance RRIFs make these attractive products for high net worth individuals, professionals and business owners who may have creditor concerns. Under most circumstances the creditor proof rules of the different provincial insurance acts take priority over the federal bankruptcy rules. CreditorsPurchases of goods or services from suppliers on credit to whom the debt is not yet paid. Or a Critical Illness Insurance (Credit Insurance)Coverage that provides a lump-sum payment should you become seriously ill with a specified illness. The payment is made to your creditors to pay off your debt owing. Current Tax Payment Act of 1943A federal Act requiring employers to withhold income taxes from employee pay. Customary payout ratiosA range of payout ratios that is typical based on an analysis of comparable firms. Date of paymentDate dividend checks are mailed. debit cardA card which enables you to directly access your bank account when paying for purchases. So instead of paying in cash or with a credit card, a debit card allows the specified amount of the purchase to be electronically debited, or withdrawn, from your bank account. See Interac Direct payment for an explanation of the actual procedures that you follow at the point of sale (POS) terminal to use your debit card. Debt (Credit Insurance)Money, goods or services that someone is obligated to pay someone else in accordance with an expressed or implied agreement. Debt may or may not be secured. Delivery versus paymentA transaction in which the buyer's payment for securities is due at the time of Demand depositsChecking accounts that pay no interest and can be withdrawn upon demand. Demand line of creditA bank line of credit that enables a customer to borrow on a daily or on-demand basis. Depository Trust Company (DTC)DTC is a user-owned securities depository which accepts deposits of Disability Insurance (Credit Insurance)Group Insurance designed to cover monthly obligations due to a borrower being unable to work due to sickness or injury. Discounted payback period ruleAn investment decision rule in which the cash flows are discounted at an Dividend payout ratioPercentage of earnings paid out as dividends. dividend payout ratioComputed by dividing cash dividends for the year dividend payout ratioPercentage of earnings paid out as dividends. Electronic Federal Tax Payment Systems (EFTPS)An electronic funds transfer system used by businesses to remit taxes to the government. EmployeeA person who renders services to another entity in exchange for compensation. Employee Retirement Income Security Act of 1974 (ERISA)A federal Act that sets minimum operational and funding standards for employee benefit Employee stock fundA firm-sponsored program that enables employees to purchase shares of the firm's Employee stock ownership plan (ESOP)A company contributes to a trust fund that buys stock on behalf of Employee Stock Ownership Plan (ESOP)a profit-sharing compensation program in which investments are made in Employee Stock Ownership Plan (ESOP)A fund containing company stock and owned by employees, paid for by ongoing contributions by the employer. employee time sheeta source document that indicates, for each employee, what jobs were worked on during the day and for what amount of time Equal Pay Act of 1963A federal Act requiring that both sexes receive equal pay EurocreditsIntermediate-term loans of Eurocurrencies made by banking syndicates to corporate and European Monetary System (EMS)An exchange arrangement formed in 1979 that involves the currencies Evergreen creditRevolving credit without maturity. Export Credit InsuranceThe granting of insurance to cover the commercial and political risks of selling in foreign markets. Exposure nettingOffsetting exposures in one currency with exposures in the same or another currency, Feasible target payout ratiospayout ratios that are consistent with the availability of excess funds to make Federal credit agenciesAgencies of the federal government set up to supply credit to various classes of FHA prepayment experienceThe percentage of loans in a pool of mortgages outstanding at the origination Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |