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Definition of Picture
The bid and asked prices quoted by a broker for a given security.
The picture quoted by a broker is said to be a one-man picture if both the bid and offered
Process in corporate financial planning whereby the smaller investment proposals of each of the
The process of creating a depiction of reality, such as a graph, picture, or mathematical
The bid and offer prices at which a dealer could do "size." Quotes in the brokers market may
The use of various forms of gimmickry to distort a company's true financial performance in order to achieve a desired result.
A characterization used by the Securities and Exchange
a discipline that focuses on the activities incurred during the production/performance process as the way to improve the value received
Total quantity of goods and services demanded.
Combinations of the price level and income for which the goods and services market is in equilibrium, or for which both the goods and services market and the money market are in equilibrium.
Requirement that none of an order be executed unless all of it can be executed at the specified price.
An arrangement whereby a security issue is canceled if the underwriter is unable
Also called surplus management, the task of managing funds of a financial
An option is at-the-money if the strike price of the option is equal to the market price of the
A method developed by BARRA, a consulting firm in
A management style that de-emphasizes the significance of economic
a detailed set of documents that provides information
Call money rate
Also called the broker loan rate , the interest rate that banks charge brokers to finance
Cash management bill
Very short maturity bills that the Treasury occasionally sells because its cash
Certified Management Accountant (CMA)
a professional designation in the area of management accounting that
A party to an explicit or implicit contract.
Person or party making request for payment of benefits under the terms of an insurance policy.
A bank that ranks just below a lead manager in a syndicated Eurocredit or international bond
Committee, AIMR Performance Presentation Standards Implementation Committee
The Association for Investment management and Research (AIMR)'s Performance Presentation Standards Implementation
Raw materials or subassemblies used to make either finished goods
computer-aided manufacturing (CAM)
the use of computers to control production processes through numerically
computer integrated manufacturing (CIM)
the integration of two or more flexible manufacturing systems through the use of a host computer and an information networking system
an external party that has been granted an outsourcing contract to produce a part or component for an entity
Corporate financial management
The application of financial principals within a corporation to create and
cost management system (CMS)
a set of formal methods
cost of goods manufactured (CGM)
the total cost of the
Cost of manufacture
The cost of goods manufactured for subsequent sale.
An amount desired, in the sense that people are willing and able to pay to obtain this amount. Always associated with a given price.
A bank deposit that can be withdrawn on demand, such as a deposit in a checking account.
Checking accounts that pay no interest and can be withdrawn upon demand.
Demand line of credit
A bank line of credit that enables a customer to borrow on a daily or on-demand basis.
A loan which must be repaid in full on demand.
Demand Management Policy
Fiscal or monetary policy designed to influence aggregate demand for goods and services.
Demand master notes
Short-term securities that are repayable immediately upon the holder's demand.
Inflation whose initial cause is excess demand rather than cost increases. See also cost-push inflation.
An event that affects the demand for goods in services in the economy.
design for manufacturability (DFM)
a process that is part of the project management of a new product; concerned with finding optimal solutions to minimizing product failures
Dow Jones industrial average
This is the best known U.S.index of stocks. It contains 30 stocks that trade on
Dow Jones Industrial Average
Index of the investment performance of a portfolio of 30 “blue-chip” stocks.
The active manipulation of earnings toward a predetermined target.
economic components model
Abrams’ model for calculating DLOM based on the interaction of discounts from four economic components.
European Monetary System (EMS)
An exchange arrangement formed in 1979 that involves the currencies
A situation in which demand exceeds supply.
Fiat Money is paper currency made legal tender by law or fiat. It is not backed by gold or silver and is not necessarily redeemable in coin. This practice has had widespread use for about the last 70 years. If governments produce too much of it, there is a loss of confidence. Even so, governments print it routinely when they need it. The value of fiat money is dependent upon the performance of the economy of the country which issued it. Canada's currency falls into this category.
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
Group rotation manager
A top-down manager who infers the phases of the business cycle and allocates
A money manager who seeks to buy stocks that are typically selling at relatively high P/E
Demands for securities to hedge particular sources of consumption risk, beyond the usual
See money base.
Money that moves across country borders in response to interest rate differences and that moves
The unique capabilities and expertise of individuals.
A put option that has a strike price higher than the underlying futures price, or a call option
Institute of Management Accountants (IMA)
an organization composed of individuals interested in the field of management accounting; it coordinates the Certified management
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
Also called a portfolio manager and money manager, the individual who manages a
The term for several manufacturing innovations that
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
Law of one price
An economic rule stating that a given security must have the same price regardless of the
law of one price
Theory that prices of goods in all countries should be equal when translated to a common currency.
The commercial or investment bank with the primary responsibility for organizing syndicated
Also known as "dirty" float, this is a system of floating exchange rates with central bank
management refers to the individuals in an entity that have the authority and the responsibility to manage the entity. The positions of these individuals, and their titles, vary from one entity to another and, to some extent, from one country to another depending on the local laws and customs. Thus, when the context requires it, the term includes the board of directors or committees of the board which are designated to oversee certain matters (e.g., audit committee).
The production of financial and non-financial information used in planning for the future; making decisions about products, services, prices and what costs to incur; and ensuring that plans are implemented and achieved.
a discipline that includes almost
Management Accounting Guidelines (MAGs)
pronouncements of the Society of management Accountants of
Management buyout (MBO)
Leveraged buyout whereby the acquiring group is led by the firm's management.
management buyout (MBO)
Acquisition of the firm by its own management in a leveraged buyout.
Management/closely held shares
Percentage of shares held by persons closely related to a company, as
This is difficult to define in a few words—indeed, an
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
management expense ratio (MER)
The total expenses expressed as an annualized percentage of daily average net assets. MER does not include brokerage fees and commissions, which are also payable by the Fund.
An investment advisory fee charged by the financial advisor to a fund based on the fund's
The fee paid to the fund’s manager for supervising the administration of the fund.
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
the preference of a manager in how he/she interacts with other stakeholders in the organization;
Decisions concerning the operation of the firm, such as the choice of firm size, firm
Mandatory redemption schedule
Schedule according to which sinking fund payments must be made.
A report from management to the shareholders that accompanies the firm's
Manufactured housing securities (MHSs)
Loans on manufactured homes - that is, factory-built or
a company engaged in a high degree of conversion
a linear or U-shaped production grouping of workers or machines
manufacturing cycle efficiency (MCE)
a ratio resulting from dividing the actual production time by total lead time;
Manufacturing resource planning
An integrated, computerized system for planning
manufacturing resource planning (MRP II)
a fully integrated materials requirement planning system that involves
Manufacturing resource planning (MRP II)
An expansion of the material requirements planning concept, with additional computer-based capabilities in the areas of
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.
Any item that serves as a medium of exchange, a store of value, and a unit of account. See medium of exchange.
Composed of currency and coins outside the banking system plus liabilities to the deposit money banks.
Cash plus deposits of the commercial banks with the central bank.
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