![]() |
|
Financial Terms | |
standard |
Information about financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.
Main Page: tax advisor, credit, finance, stock trading, money, financial, inventory, accounting, |
Definition of standardstandarda model or budget against which actual results are
Related Terms: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 ethical standarda standard representing beliefs about moral expected standardstandard set at a level that reflects what Fair Labor Standards Act of 1938A federal Act creating standards of overtime 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 Part standardizationThe planned reduction of similar parts through the standardization perfection standardsee ideal standard practical standarda standard that can be reached or slightly 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 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 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 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 accrual-basis accountingWell, frankly, accrual is not a good descriptive Appraisal ratioThe signal-to-noise ratio of an analyst's forecasts. The ratio of alpha to residual standard Back To Back AnnuityThis term refers to the simultaneous issue of a life annuity with a non-guaranteed period and a guaranteed life insurance policy [usually whole life or term to 100]. The face value of the life insurance would be the same amount that was used to purchase the annuity. This combination of life annuity providing the highest payout of all types of annuities, along with a guaranteed life insurance policy allowed an uninsurable person to convert his/her RRSP into the best choice of annuity and guarantee that upon his/her death, the full value of the annuity would be paid tax free through the life insurance policy to his family members. However, in the early 1990's, the Federal tax authorities put a stop to the issuing of standard life rates to rated or uninsurable applicants. Insuring a life annuity in this manner is still an excellent way to provide guaranteed tax free funds to family members but the application for the annuity and the application for the life insurance are separate transactions and today, most likely conducted through two different insurance companies so that there is no suspicion of preferential treatment given to the life insurance application. backflush costinga streamlined cost accounting method that speeds up, simplifies, and reduces accounting effort in an environment that minimizes inventory balances, requires BenchmarkA standard by which something may be compared and measured Black-Scholes option-pricing modelA model for pricing call options based on arbitrage arguments that uses Boilerplatestandard terms and conditions. Bollinger band chartA financial chart that plots actual asset data along budget variancethe difference between total actual overhead CASBsee Cost Accounting standards Board CBOEChicago Board Options Exchange. A securities exchange created in the early 1970s for the public coefficient of variationa measure of risk used when the standard deviations for multiple projects are approximately Correlation coefficientA standardized statistical measure of the dependence of two random variables, credit policystandards set to determine the amount and nature of credit to extend to customers. debt-to-equity ratioA widely used financial statement ratio to assess the defective unita unit that has been rejected at a control inspection Difference from S&PA mutual fund's return minus the change in the standard & Poors 500 Index for the Efficient portfolioA portfolio that provides the greatest expected return for a given level of risk (i.e. standard electronic data interchange (EDI)the computer-to-computer transfer of information in virtual real time using standardized formats developed by the American National standards Institute Emerging Issues Task Force (EITF)A special committee of the Financial Accounting standards Board established to reach consensus of how to account for new and unusual financial transactions that have the potential for creating differing financial reporting practices. Emerging Issues Task Force (EITF)A separate committee within the Financial Accounting standards Board composed of 13 members representing CPA firms and preparers of financial statements Employee Retirement Income Security Act of 1974 (ERISA)A federal Act that sets minimum operational and funding standards for employee benefit Ethicsstandards of conduct or moral judgement. failure costa quality control cost associated with goods or FASBFinancial Accounting standards Board. Sets accounting standards for U.S. firms. FASB No. 52The U.S. accounting standard which was replaced by FASB No. 8. U.S. companies are required FASB No. 8U.S. accounting standard that requires U.S. firms to translate their foreign affiliates' accounts by Fixed-datesIn the Euromarket the standard periods for which Euros are traded (1 month out to a year out) are Flexible budgetA method of budgetary control that flexes, i.e. adjusts the original budget by applying standard Form 668-WThe standard form used for notifying a company to garnish an employee’s Forward contractA cash market transaction in which delivery of the commodity is deferred until after the General Agreementon Tariffs and Trade (GATT) a treaty generally accepted accounting principles (GAAP)This important term Generally Accepted Accounting Principles (GAAP)A common set of standards and procedures gross margin, or gross profitThis first-line measure of profit internal rate of return (IRR)The precise discount rate that makes the Inventory returnsInventory returned from a customer for any reason. This receipt investment gradeBonds rated Baa or above by Moody’s or BBB or above by standard & Poor’s. ISO 14000a series of international standards that are designed ISO 9000a comprehensive series of international quality standards Junk bondA bond with a speculative credit rating of BB (S&P) or Ba (Moody's) or lower is a junk or high labor efficiency variancethe number of hours actually worked minus the standard hours allowed for the production Labor efficiency varianceThe difference between the amount of time that was budgeted labor mix variance(actual mix X actual hours X standard rate) - (standard mix X actual hours X standard rate); labor rate variancethe actual rate (or actual weighted average rate) paid to labor for the period minus the standard rate multiplied by all hours actually worked during the period; Labor rate varianceThe difference between the actual and standard direct labor rates labor yield variance(standard mix X actual hours X standard rate) - (standard mix X standard hours X standard rate); Long coupons1) Bonds or notes with a long current maturity. Long coupons1) Bonds or notes with a long current maturity. market portfolioPortfolio of all assets in the economy. In practice a broad stock market index, such as the standard & Poor's Composite, is used to represent the market. material mix variance(actual mix X actual quantity X standard price) - (standard mix X actual quantity X standardprice); material price variancetotal actual cost of material purchased material quantity variance(actual quantity X standard price) - (standard quantity allowed standard price); material yield variance(standard mix X actual quantity X standard price) - (standard mix X standard quantity X standard price); Materials quantity varianceThe difference between the actual and budgeted quantities Mortgage durationA modification of standard duration to account for the impact on duration of MBSs of net present value (NPV)Equals the present value (PV) of a capital investment Normal deviateRelated: standardized value Objective (mutual fund)The fund's investment strategy category as stated in the prospectus. There are Opportunity setThe possible expected return and standard deviation pairs of all portfolios that can be Other-than-Temporary Decline in Market ValueThe standard used to describe a decline in market value that is not expected to recover. The use of the other-than-temporary description as overhead efficiency variancethe difference between total budgeted overhead at actual hours and total budgeted OvertimeA pay premium of 50 percent of the regular rate of pay that is earned Plain vanillaA term that refers to a relatively simple derivative financial instrument, usually a swap or other Portfolio opportunity setThe expected return/standard deviation pairs of all portfolios that can be predetermined overhead ratean estimated constant charge per unit of activity used to assign overhead cost to production or services of the period; it is calculated by dividing total budgeted annual overhead at a selected level of volume or activity by that selected measure of volume or activity; it is also the standard overhead application rate Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |