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Definition of Process
A series of linked activities that result in a specific objective. For example, the
The time that elapses between receipt of payment from a customer and the
A conception of the way a stock's price changes that assumes that the price takes on all
Refers to the time it takes the receiver of a check to process the payment and
The process of determining the prices of the assets in the marketplace through the
A method of costing for continuous manufacture in which costs for an accounting compared are compared with production for the same period to determine a cost per unit produced.
the process of combining information technology to create new and more effective
relative costs and benefits that result from a specific course
the method of cost assignment that computes an average cost per equivalent
a manufacturing process that simultaneously
the method of cost assignment that uses FIFO to compute a cost per
the ability of a worker to monitor
benchmarking that focuses on practices and how the best-in-class companies achieved their results
an assessment about the number of processes through which a product flows
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
the actual time consumed performing the
a flowchart or diagram indicating every step
the total units produced during a period
process quality yield
the proportion of good units that resulted from the activities expended
product- (or process-) level cost
a cost that is caused by the development, production, or acquisition of specific products or services
statistical process control (SPC)
the use of control techniques that are based on the theory that a process has natural variations in it over time, but uncommon variations
strict FIFO method (of process costing)
the method of cost assignment that uses FIFO to compute a cost per equivalent unit and, in transferring units from a department, keeps the
weighted average method (of process costing)
the method of cost assignment that computes an average cost per
Statistical assumptions about the behavior of security prices. For
A costing methodology that arrives at an individual product cost through the calculation of average costs for large quantities of identical products.
Inventory that has been partially converted through the
Purchased In-Process Research and Development
Unfinished research and development that is acquired from another firm.
Process flow production
A production configuration in which products are continually
Material that has been reworked and returned to stock.
Any items being converted into finished goods or released from
process in corporate financial planning whereby the smaller investment proposals of each of the
Automated Clearing House (ACH)
A collection of 32 regional electronic interbank networks used to
A system that monitors and evaluates the performance of a fixed-income portfolio , as well as the
A process of creating a theoretical spot rate curve , using one yield projection as the basis for
The process of choosing the firm's long-term capital assets.
Capital market imperfections view
The view that issuing debt is generally valuable but that the firm's
Clearing house / Clearinghouse
An adjunct to a futures exchange through which transactions executed its floor are settled by a
A securities offering process in which securities firms submit competing bids to the
The process of accumulating the time value of money forward in time. For example, interest
The process of accumulating the time value of money forward in time on a
The process of analyzing information on companies and bond issues in order to estimate the
Debtor in possession
A firm that is continuing to operate under Chapter 11 bankruptcy process.
New debt obtained by a firm during the Chapter 11 bankruptcy process.
Calculating the present value of a future amount. The process is opposite to compounding.
A statistical process that links the probability of default to a specified set of financial ratios.
The process of completing an order to buy or sell securities. Once a trade is executed, it is reported
The process of evaluating the investing and financing options available to a firm. It
Foreign currency translation
The process of restating foreign currency accounts of subsidiaries into the
The process of dividing each expense item of a given year by the same expense item in
The gradual domination of financial markets by institutional investors, as opposed to
For companies: Raw materials, items available for sale or in the process of being made ready for
The revenue from a portfolio of invested assets.
The process by which the corporation communicates with its investors.
Just-in-time inventory systems
Systems that schedule materials/inventory to arrive exactly as they are
A collection and processing service provided to firms by banks, which collect payments from a
The purchase of a futures contract(s) in anticipation of actual purchases in the cash market. Used
Refers to the part of the collection and disbursement process where checks are trapped in the postal system.
The process whereby the book value or collateral value of a security is adjusted to reflect
A book-entry depository for GNMA securities. The depository was initially operated by
The process of creating a depiction of reality, such as a graph, picture, or mathematical
A process whereby two companies in different countries borrow each other's currency for a
Plan for reorganization
A plan for reorganizing a firm during the Chapter 11 bankruptcy process.
A strategy of introducing into the decision-making process a random element that is
A claim for the right to return or the right to demand the return of a security that has been
The process of identifying and evaluating risks and selecting and managing techniques to
A key input to a firm's financial planning process. External sales forecasts are based on
The process of creating a passthrough, such as the mortgage pass-through security, by which
The process of conveying information through a firm's actions.
One, who attempts to anticipate price changes and, through buying and selling contracts, aims to
The origination of mortgages by processing applications taken directly from prospective borrowers.
An agreement to put a specified amount of raw material per period through a particular
Acquisition in which the acquired firm and the acquiring firm are at different steps in the
The process of dividing each expense item in the income statement of a given year by net
The value of the products that a retailing or wholesaling company intends to resell for a profit.
The process of satisfying stakeholders in the organization that managers have acted in the best interests of the stakeholders, a result of the stewardship function of managers, which takes place through accounting.
A collection of systems and processes used to record, report and interpret business transactions.
A system of non-financial performance measurement that links innovation, customer and process measures to financial performance.
The process of ensuring that actual financial results are in line with targets â€“ see variance
The process of either reducing costs while maintaining the same level of productivity or maintaining costs while increasing productivity.
Anything for which a measurement of cost is required â€“ inputs, processes, outputs or responsibility centres.
The costs of (cross-functional) business processes, irrespective of the organizational structure of the business.
The retrospective process of measuring performance, comparing it with plan and taking corrective action.
The process of determining prospectively whether strategies are likely to achieve the target
The accounting period adopted by a business for the production of its financial statements.
A method of costing that involves making continual, incremental improvements to the
The process of spreading production overhead equitably over the volume of production of goods or services.
Unprocessed goods bought for manufacture, part of inventory.
A list of all the labour or machining processes and times required to convert raw materials into finished goods or to deliver a service.
The time required to make ready a machine or process for production, e.g. changing equipment
Current assets less current liabilities. Money that revolves in the business as part of the process of buying, making and selling goods and services, particularly in relation to debtors, creditors, inventory and bank.
Goods or services that have commenced the production process but are incomplete and unable to be sold.
The process of taking the balances from the bank statement and the general ledger and making adjustments so that they agree.
The process of taking a transaction and putting it into a form that allows it to be recorded in the accounting records.
The process of taking journal entries and recording them in the general ledger.
Refers to the sum of manufacturing direct labor and overhead
The process of ranking and selecting investment alternatives and
The process of continuously adding interest to a principal plus
The process of calculating the present value of a stream of future
The process of calculating the present value of a stream of future
The process of adding interest to a principal plus interest amount
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