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Financial Terms | |
Routing |
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Definition of RoutingRoutingA list of all the labour or machining processes and times required to convert raw materials into finished goods or to deliver a service.
Related Terms:routing documentsee operations flow document Standard costsA budget cost for materials and labour used for decision-making, usually expressed as a per unit cost that is applied to standard quantities from a bill of materials and to standard times from a Agency costsThe incremental costs of having an agent make decisions for a principal. Avoidable costscosts that are identifiable with and able to be influenced by decisions made at the business capitalization of costsWhen a cost is recorded originally as an increase Carring costscosts that increase with increases in the level of investment in current assets. carrying costscosts of maintaining current assets, including opportunity cost of capital. ![]() Committee, AIMR Performance Presentation Standards Implementation CommitteeThe Association for Investment Management and Research (AIMR)'s Performance Presentation standards Implementation Contract Work Hours and Safety Standards ActA federal Act requiring federal contractors to pay overtime for hours worked exceeding 40 per week. Cost Accounting Standards Board (CASB)a body established by Congress in 1970 to promulgate cost accounting Costs Capitalized in StealthA particularly egregious form of aggressive cost capitalization costs of financial distresscosts arising from bankruptcy or distorted business decisions before bankruptcy. Direct costscosts that are readily traceable to particular products or services. Documented discount notesCommercial paper backed by normal bank lines plus a letter of credit from a ethical standarda standard representing beliefs about moral Execution costsThe difference between the execution price of a security and the price that would have ![]() expected standardstandard set at a level that reflects what Fair Labor Standards Act of 1938A federal Act creating standards of overtime Financial distress costsLegal and administrative costs of liquidation or reorganization. Also includes Fixed costscosts that do not change with increases or decreases in the volume of goods or services fixed costscosts that do not depend on the level of output. fixed expenses (costs)Expenses or costs that remain the same in amount, Friction costscosts, both implied and direct, associated with a transaction. Such costs include time, effort, Funding CostsThe price of obtaining capital, either borrowed or equity, with intent to carry on business operations. Gold exchange standardA system of fixing exchange rates adopted in the Bretton Woods agreement. It Gold standardAn international monetary system in which currencies are defined in terms of their gold Gold StandardA fixed exchange rate system in which a currency is directly convertible into gold. ideal standarda standard that provides for no inefficiencies Incremental costs and benefitscosts and benefits that would occur if a particular course of action were Indirect costscosts that are necessary to produce a product/service but are not readily traceable to particular products or services – see overhead. Information costsTransaction costs that include the assessment of the investment merits of a financial asset. Market impact costsAlso called price impact costs, the result of a bid/ask spread and a dealer's price concession. Market timing costscosts that arise from price movement of the stock during the time of the transaction Menu CostsThe costs to firms of changing their prices. operations flow documenta document listing all operations Opportunity costsThe difference in the performance of an actual investment and a desired investment overhead costsOverhead generally refers to indirect, in contrast to direct, Part standardizationThe planned reduction of similar parts through the standardization perfection standardsee ideal standard Period costsThe costs that relate to a period of time. Policy Acquisition Costscosts incurred by insurance companies in signing new policies, including expenditures on commissions and other selling expenses, promotion expenses, premium Political CostsThe costs of additional regulation, including higher taxes, borne by large and practical standarda standard that can be reached or slightly Preopening CostsA form of start-up cost incurred in preparing for the opening of a new store or facility. Price impact costsRelated: market impact costs Round-trip transactions costscosts of completing a transaction, including commissions, market impact Search costscosts associated with locating a counterparty to a trade, including explicit costs (such as Semi-fixed costs costs that are constant within a defined level of activity but that can increase or decrease when Semi-variable costscosts that have both fixed and variable components. shortage costscosts incurred from shortages in current assets. Source documentThe document that records a transaction and forms the basis for recording in a business’s standarda model or budget against which actual results are Standard containersCommon-sized containers that are used to efficiently move, standard costa budgeted or estimated cost to manufacture Standard costA predetermined cost that is based on original engineering designs and standard cost carda document that summarizes the direct standard cost systema valuation method that uses predetermined Standard deviationThe square root of the variance. A measure of dispersion of a set of data from their mean. Standard DeviationA statistical term that measures the dispersion of a variable standard deviationthe measure of variability of data around Standard deviationA measure of the variation in a distribution, equal to the standard deviationSquare root of variance. Another measure of volatility. Standard errorIn statistics, a measure of the possible error in an estimate. standard error of the estimatea measure of dispersion that reflects the average difference between actual observations and expected results provided by a regression line standard overhead application ratea predetermined overhead rate used in a standard cost system; it can be a separate variable or fixed rate or a combined overhead rate Standard & Poor’s Composite IndexIndex of the investment performance of a portfolio of 500 large stocks. Also called the standard quantity allowedthe quantity of input (in hours or some other cost driver measurement) required at standard for the output actually achieved for the period Standardized normal distributionA normal distribution with a mean of 0 and a standard deviation of 1. Standardized valueAlso called the normal deviate, the distance of one data point from the mean, divided by Start-up Costscosts related to such onetime activities as opening a new facility, introducing Statement of Financial Accounting Standards No. 52This is the currency translation standard currently Statement of Financial Accounting Standards No. 8This is a currency translation standard previously in Sunk costscosts that have been incurred and cannot be reversed. Sunk costscosts that have been incurred in the past. sunk costscosts that have been incurred and cannot be recovered. Trading costscosts of buying and selling marketable securities and borrowing. Trading costs include Transactions costsThe time, effort, and money necessary, including such things as commission fees and the Undepreciated Capital CostsThe tax definition of the value of an asset that is eligible for tax deprecation. variable costscosts that change as the level of output changes. 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