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Financial Terms | |
Work Week |
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Definition of Work WeekWork WeekA fixed period of 168 consecutive hours that recurs on a consistent basis.
Related Terms:Hourly Rate PlanA method for calculating wages for hourly employees that involves OvertimeA pay premium of 50 percent of the regular rate of pay that is earned Contract Work Hours and Safety Standards ActA federal Act requiring federal contractors to pay overtime for hours worked exceeding 40 per week. Discouraged WorkerAn unemployed person who gives up looking for work and so is no longer counted as in the labor force. economically reworkedwhen the incremental revenue from the sale of reworked defective units is greater than Make-Work ProjectA project, such as digging holes and filling them up again, that has no useful purpose other than to make work. Net working capitalCurrent assets minus current liabilities. Often simply referred to as working capital. ![]() net working capitalCurrent assets minus current liabilities. network organizationa flexible organization structure that Personal Responsibility and Work Opportunity Reconciliation ActA federal Act requiring the reporting of new hires into a national database. ReworkRefers to a product that does not meet a company’s minimum quality standards, ReworkThe refurbishment of a faulty part. Weekend effectThe common recurrent low or negative average return from Friday to Monday in the stock market. Work-in-processAny items being converted into finished goods or released from Work-in-process inventoryInventory that has been partially converted through the Work-in-progressGoods or services that have commenced the production process but are incomplete and unable to be sold. ![]() Workers' Compensation BenefitsEmployer-paid insurance that provides their employees with wage compensation if they are injured on the job. Working capitalDefined as the difference in current assets and current liabilities (excluding short-term Working capitalCurrent 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. working capitaltotal current assets minus total current liabilities Working capitalThe amount of a company’s current assets minus its current liabilities; Working CapitalCurrent assets minus current liabilities Working CapitalFunds invested in a company's cash, accounts receivable and inventory. Net working capital is current assets minus current liabilities. Working Capital CashThe cash component of working capital. Working capital managementThe management of current assets and current liabilities to maximize shortterm liquidity. Working capital ratioworking capital expressed as a percentage of sales. WorkoutInformal arrangement between a borrower and creditors. workoutAgreement between a company and its creditors establishing the steps the company must take to avoid bankruptcy. Workout periodRealignment period of a temporary misaligned yield relationship that sometimes occurs in Temporary Life InsuranceTemporary insurance coverage is available at time of application for a life insurance policy if certain conditions are met. Normally, temporary coverage relates to free coverage while the insurance company which is underwriting the risk, goes through the process of deciding whether or not they will grant a contract of coverage. The qualifications for temporary coverage vary from insurance company to insurance company but generally applicants will qualify if they are between the ages of 18 and 65, have no knowledge or suspicions of ill health, have not been absent from work for more than 7 days within the prior 6 months because of sickness or injury and total coverage applied for from all sources does not exceed $500,000. Normally a cheque covering a minimum of one months premium is required to complete the conditions for this kind of coverage. The insurance company applies this deposit towards the cost of a policy at its issue date, which may be several weeks in the future. Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |