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Definition of Work-in-progress
Goods or services that have commenced the production process but are incomplete and unable to be sold.
A federal Act requiring federal contractors to pay overtime for hours worked exceeding 40 per week.
An unemployed person who gives up looking for work and so is no longer counted as in the labor force.
when the incremental revenue from the sale of reworked defective units is greater than
A project, such as digging holes and filling them up again, that has no useful purpose other than to make work.
Current assets minus current liabilities. Often simply referred to as working capital.
Current assets minus current liabilities.
a flexible organization structure that
A federal Act requiring the reporting of new hires into a national database.
Periodic payments to a supplier, contractor or subcontractor for work satisfactorily performed to date.
A periodic review of a capital investment project to evaluate its continued economic viability.
A tax in which the rich pay a larger percentage of income than the poor. Contrast with regressive tax.
A tax system wherein the average tax rate increases for some increases in income but
Refers to a product that does not meet a company’s minimum quality standards,
The refurbishment of a faulty part.
Any items being converted into finished goods or released from
Inventory that has been partially converted through the
A fixed period of 168 consecutive hours that recurs on a consistent basis.
Workers' Compensation Benefits
Employer-paid insurance that provides their employees with wage compensation if they are injured on the job.
Defined as the difference in current assets and current liabilities (excluding short-term
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.
total current assets minus total current liabilities
The amount of a company’s current assets minus its current liabilities;
Current assets minus current liabilities
Funds invested in a company's cash, accounts receivable and inventory. Net working capital is current assets minus current liabilities.
Working Capital Cash
The cash component of working capital.
Working capital management
The management of current assets and current liabilities to maximize shortterm liquidity.
Working capital ratio
working capital expressed as a percentage of sales.
Informal arrangement between a borrower and creditors.
Agreement between a company and its creditors establishing the steps the company must take to avoid bankruptcy.
Realignment period of a temporary misaligned yield relationship that sometimes occurs in
Goods bought or manufactured for resale but as yet unsold, comprising raw materials, work-in-progress and finished goods.
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