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Definition of Perpetual warrants
warrants that have no expiration date.
An inventory system in which the balance in the Inventory account is adjusted for the units sold each time a sale is made.
A system that continually tracks all additions to and deletions
A manual or automated inventory tracking system in which
systems that schedule materials/inventory to arrive exactly as they are
An inventory system in which the balance in the inventory account is adjusted for the units sold only at the end of the period.
Schedule of depreciation rates allowed for tax purposes.
A secured loan that gives the lender a lien against all the borrower's inventories.
A computerized clearing system for sterling funds
An international wire transfer system for high-value
The average number of days' worth of sales that is held in inventory.
Highlights the fact that return on assets (ROA) can be expressed in terms
An exchange arrangement formed in 1979 that involves the currencies
The central bank of the U.S., established in 1913, and governed by the Federal
Arrangement by which investors who receive a dividend also receive a tax credit for
For companies: Raw materials, items available for sale or in the process of being made ready for
A secured short-term loan to purchase inventory. The three basic forms are a blanket
The ratio of annual sales to average inventory which measures the speed that inventory
A technical trading strategy that combines mechanical rules, such as the CRISMA
Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
Common to all businesses.
Also called undiversifiable risk or market risk, the minimum level of risk that can be
Systematic risk principle
Only the systematic portion of risk matters in large, well-diversified portfolios.
Two-tier tax system
A method of taxation in which the income going to shareholders is taxed twice.
Also called the diversifiable risk or residual risk. The risk that is unique to a company
The number of times a company sold out and replaced its average stock of goods in a year. The formula is:
MACRS (Modified Accelerated Cost Recovery System)
A depreciation method created by the IRS under the Tax Reform Act of 1986. Companies must use it to depreciate all plant and equipment assets installed after December 31, 1986 (for tax purposes).
The value of the products that a retailing or wholesaling company intends to resell for a profit.
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
Goods bought or manufactured for resale but as yet unsold, comprising raw materials, work-in-progress and finished goods.
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
The cost of the goods that a company has available for resale.
A term describing the loss of products from inventory
inventory turnover ratio
The cost-of-goods-sold expense for a given
Refers to making an entry, usually at the close of a
Inventory Turnover Ratio
Provides a measure of how often a company's inventory is sold or
The amount of total risk that cannot be eliminated by portfolio
The amount of total risk that can be eliminated by diversification by
actual cost system
a valuation method that uses actual direct
business intelligence (BI) system
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
a system using transfer prices; see transfer
cost control system
a logical structure of formal and/or informal
cost management system (CMS)
a set of formal methods
dollar days (of inventory)
a measurement of the value of inventory for the time that inventory is held
enterprise resource planning (ERP) system
a packaged software program that allows a company to
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
hybrid costing system
a costing system combining characteristics
job order costing system
a system of product costing used
just-in-time manufacturing system
a production system that attempts to acquire components and produce inventory only as needed, to minimize product defects, and to
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
normal cost system
a valuation method that uses actual
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
process costing system
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
a production system dictated by product sales
the traditional production system in which
an inventory ordering system in which a red
responsibility accounting system
an accounting information system for successively higher-level managers about the performance of segments or subunits under the control
standard cost system
a valuation method that uses predetermined
an inventory ordering system in which two
a streamlined system of inventory
The beginning inventory for a period, plus the amount at the end of
The amount of money invested in inventory, as per a companyâ€™s
Finished goods inventory
Goods that have been completed by the manufacturing
Moving average inventory method
An inventory costing methodology that calls for the re-calculation of the average cost of all parts in stock after every purchase.
Raw materials inventory
The total cost of all component parts currently in stock that
inventory that has been partially converted through the
Du Pont system
A breakdown of ROE and ROA into component ratios.
system whereby customers send payments to a post office box and a local bank collects and processes checks.
Modified Accelerated Cost Recovery System (MACRS)
Depreciation method that allows higher tax deductions in early years and lower deductions later.
Federal Reserve System
The central banking authority responsible for monetary policy in the United States.
Goods that a firm stores in anticipation of its later sale or use as an input.
See market mechanism.
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
Average-Cost Inventory Method
The inventory cost-flow assumption that assigns the average
First-In, First-Out (FIFO) Inventory Method
The inventory cost-flow assumption that
The cost of unsold goods that are held for sale in the ordinary course of business or
The number of days it would take to sell the ending balance in inventory at the
A shortfall between inventory based on actual physical counts and inventory
Last-In, First-Out (LIFO) Inventory Method
The inventory cost-flow assumption that assigns the most recent inventory acquisition costs to cost of goods sold. The earliest inventory
ABC inventory classification
A method for dividing inventory into classifications,
Automated storage/retrieval system
A racking system using automated systems
inventory intended for shipment to customers, usually
The dollar value or unit total of goods on hand at the end of an
Enterprise resource planning system
A computer system used to manage all company
Finished goods inventory
Completed inventory items ready for shipment to
Excess inventory kept on hand to provide a buffer against
Excess inventories kept on hand as a buffer against contingent
Parts with no recent prior or forecasted usage.
inventory currently situated between its shipment and delivery
Those items included categorized as either raw materials, work-inprocess,
A transaction used to adjust the book balance of an inventory
The redirection of parts or finished goods away from their intended
A transaction used to record the reduction in inventory from a location,
The arrival of an inventory delivery from a supplier or other
inventory returned from a customer for any reason. This receipt
The number of times per year that an entire inventory or a
An inventory itemâ€™s budgeted maximum inventory level,
An inventory itemâ€™s budgeted minimum inventory level.
The current inventory balance, less allocated or reserved items.
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