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Definition of Stand-alone principle
Investment principle that states a firm should accept or reject a project by comparing it
A change from one generally accepted accounting principle to another generally accepted accounting principle—for example, a change from capitalizing expenditures
The Association for Investment Management and Research (AIMR)'s Performance Presentation standards Implementation
A federal Act requiring federal contractors to pay overtime for hours worked exceeding 40 per week.
This is the principle which specifies the factors that must be taken into account when calculating dividends. At Canada Life, the key factors are: interest earnings, mortality, and operating expense.
a body established by Congress in 1970 to promulgate cost accounting
The change in earnings of previous years
Average collection period.
a standard representing beliefs about moral
standard set at a level that reflects what
A federal Act creating standards of overtime
The rules that accountants follow when processing accounting transactions and creating financial reports. The rules are primarily
This important term
Procedures for preparing financial statements.
A common set of standards and procedures
GAAP is the term used to describe the underlying rules basis on which financial statements are normally prepared. This is codified in the Handbook of The Canadian Institute of Chartered Accountants.
Gold exchange standard
A system of fixing exchange rates adopted in the Bretton Woods agreement. It
An international monetary system in which currencies are defined in terms of their gold
A fixed exchange rate system in which a currency is directly convertible into gold.
a standard that provides for no inefficiencies
The law of averages. The average outcome for many independent trials of an experiment
The process of linking recognized revenue to any associated
An accounting principle that ties expense recognition to revenue recognition,
Outstanding share capital
Issued share capital less the par value of shares that are held in the company's treasury.
Shares that are currently owned by investors.
The number of shares that are in the hands of the public. The difference between issued shares and outstanding shares is the shares held as treasury stock.
Shares that have been issued by the company and are held by investors.
a rule which states that the greatest effects
The planned reduction of similar parts through the standardization
see ideal standard
a standard that can be reached or slightly
a model or budget against which actual results are
Common-sized containers that are used to efficiently move,
a budgeted or estimated cost to manufacture
A predetermined cost that is based on original engineering designs and
standard cost card
a document that summarizes the direct
standard cost system
a valuation method that uses predetermined
A 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
The square root of the variance. A measure of dispersion of a set of data from their mean.
A statistical term that measures the dispersion of a variable
the measure of variability of data around
A measure of the variation in a distribution, equal to the
Square root of variance. Another measure of volatility.
In statistics, a measure of the possible error in an estimate.
standard error of the estimate
a measure of dispersion that reflects the average difference between actual observations and expected results provided by a regression line
standard overhead application rate
a 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 Index
Index of the investment performance of a portfolio of 500 large stocks. Also called the
standard quantity allowed
the quantity of input (in hours or some other cost driver measurement) required at standard for the output actually achieved for the period
Standardized normal distribution
A normal distribution with a mean of 0 and a standard deviation of 1.
Also called the normal deviate, the distance of one data point from the mean, divided by
In a rights issue, agreement that the underwriter will purchase any stock not purchased by investors.
Amount paid to an underwriter who agrees to purchase any stock that is not subscribed to the
Contracts where the bidding firm in a takeover attempt agrees to limit its holdings
Statement of Financial Accounting Standards No. 52
This is the currency translation standard currently
Statement of Financial Accounting Standards No. 8
This is a currency translation standard previously in
Systematic risk principle
Only the systematic portion of risk matters in large, well-diversified portfolios.
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