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Definition of RFID
Acronym for Radio Frequency Identification. It is the basis for small radio
A means of compensating the broker of a program trade solely on the basis of commission
The periodic rate times the number of periods in a year. For example, a 5%
The effective, or true, annual rate of return. The APY is the rate actually
A convention used for quoting bids and offers for treasury bills in terms of annualized
Regarding a futures contract, the difference between the cash price and the futures price observed in the
In the bond market, the smallest measure used for quoting yields is a basis point. Each percentage
Price expressed in terms of yield to maturity or annual rate of return.
The uncertainty about the basis at the time a hedge may be lifted. Hedging substitutes basis risk for
A secured loan that gives the lender a lien against all the borrower's inventories.
The method used for computing the bond-equivalent yield.
The number of compounding periods in a year. For example, quarterly
The average number of days' worth of sales that is held in inventory.
Selling something on a discounted basis is selling below what its value will be at maturity,
An offering of securities at a fixed price.
An account for the investment credit to show all income statement benefits of the credit
A method of selling a new issue of common stock in which the SEC declares the registration
The organization of data to show how often certain values or ranges of values occur.
Gross domestic product (GDP)
The market value of goods and services produced over time including the
Gross national product (GNP)
Measures and economy's total income. It is equal to GDP plus the income
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
Investment product line (IPML)
The line of required returns for investment projects as a function of beta
Just-in-time inventory systems
Systems that schedule materials/inventory to arrive exactly as they are
Net advantage of refunding
The net present value of the savings from a refunding.
Net advantage to leasing
The net present value of entering into a lease financing arrangement rather than
Net advantage to merging
The difference in total post- and pre-merger market value minus the cost of the merger.
Price value of a basis point (PVBP)
Also called the dollar value of a basis point, a measure of the change in
The time it takes to bring new and/or improved products to market.
A type of mortgage-pipeline risk that occurs when a lender has an unusual loan in production or
Production payment financing
A method of nonrecourse asset-based financing in which a specified
An agreement by the loan purchaser to allow the monthly loan quota to be
A bankruptcy practitioner appointed by secured creditors in the United Kingdom to oversee the
The Frequency with which the floating rate changes.
Costs that fall with increases in the level of investment in current assets.
The tendency of small firms (in terms of total market capitalization) to outperform the
Small issues exemption
Securities issues that involve less than $1.5 million are not required to file a
In an indexing strategy, the difference between the performance of the benchmark and the
Also called unsystematic risk or idiosyncratic risk. Specific company risk that can be eliminated
Variance minimization approach to tracking
An approach to bond indexing that uses historical data to
An asset’s purchase price, plus costs associated with the purchase, like installation fees, taxes, etc.
The number of times a company sold out and replaced its average stock of goods in a year. The formula is:
The value of the products that a retailing or wholesaling company intends to resell for a profit.
UNITS OF PRODUCTION
A depreciation method that relates a machine’s depreciation to the number of units it makes each
Goods bought or manufactured for resale but as yet unsold, comprising raw materials, work-in-progress and finished goods.
A general term referring to period costs, such as selling, administration and financial expenses.
The cost of goods or services produced.
A business’s investment in technology, people and materials in order to make, buy and sell products or services to customers.
See sales mix.
A general term referring to indirect costs.
The cost of the goods that a company has available for resale.
Periodic inventory system
An inventory system in which the balance in the inventory account is adjusted for the units sold only at the end of the period.
Perpetual inventory system
An inventory system in which the balance in the inventory account is adjusted for the units sold each time a sale is made.
A method of accounting for inventory.
Well, frankly, accrual is not a good descriptive
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
This is a key factor in the profit model of a business. product
One one-hundredth of one percent
Inventory Turnover Ratio
Provides a measure of how often a company's inventory is sold or
a group of lines and spaces arranged in a special
an incidental output of a joint process; it is salable,
cost of production report
a process costing document that
dollar days (of inventory)
a measurement of the value of inventory for the time that inventory is held
economic production run (EPR)
an estimate of the number
equivalent units of production (EUP)
an approximation of the number of whole units of output that could have been
grade (of product or service)
the addition or removal of product
the total units produced during a period
an assessment about the number of components in a product
product contribution margin
the difference between selling price and variable cost of goods sold
a cost associated with making or acquiring inventory
the number of total units that could be
product- (or process-) level cost
a cost that is caused by the development, production, or acquisition of specific products or services
product life cycle
a model depicting the stages through
product line margin
see segment margin
the number of different types of products
a streamlined system of inventory
One hundredth of one percentage point, or 0.0001.
The beginning inventory for a period, plus the amount at the end of
The amount of money invested in inventory, as per a company’s
A product that is an ancillary part of the primary production process, having
Finished goods inventory
Goods that have been completed by the manufacturing
A product that has the highest sales value from among a group of products
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.
A system that continually tracks all additions to and deletions
The total of all costs assigned to a product, typically including direct
Production yield variance
The difference between the actual and budgeted proportions
Raw materials inventory
The total cost of all component parts currently in stock that
inventory that has been partially converted through the
annual percentage rate (APR)
Interest rate that is annualized using simple interest.
percentage of sales models
Planning model in which sales forecasts are the driving variables and most other variables are
Costs incurred from shortages in current assets.
Risk factors affecting only that firm. Also called diversifiable risk.
The ability to produce a good or service with fewer resources than competitors. See also comparative advantage.
Aggregate Production Function
An equation determining aggregate output as a function of aggregate inputs such as labor and capital.
One one-hundredth of a percentage point, used to express variations in yields. For example, the difference between 5.36 percent and 5.38 percent is 2 basis points.
A country has a comparative advantage over another country in the production of good A if to produce a unit of A it forgoes more of the production of good B than would the other country when it produces a unit of good A. Its efficiency in the production of good A relative to its efficiency in the production of good B is greater than is the case for the other country. See also absolute advantage.
Factor of Production
A resource used to produce a good or service. The main macroeconomic factors of production are capital and labor.
Gross Domestic Product
Total output of final goods and services produced within a country during a year.
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