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Definition of charge-back system
a system using transfer prices; see transfer
Schedule of depreciation rates allowed for tax purposes.
A set of accounts that summarize the transactions of a business that have been recorded on source documents.
a valuation method that uses actual direct
Bond or note secured by assets of company.
A security that is collateralized by loans, leases, receivables, or installment contracts
A racking system using automated systems
The fee paid on the extension date if the buyer wishes to continue the option.
The subsequent subtraction from inventory records of those parts used
Brokerage house clerical operations that support, but do not include, the trading of stocks and
This 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.
An intercompany loan channeled through a bank.
A loan in which two companies in separate countries borrow each other's currency for a
1) When bond yields and prices fall, the market is said to back-up.
A procedure for making the effective date of a policy earlier than the application date. backdating is often used to make the age of the consumer at policy issue lower than it actually was in order to get a lower premium.
a streamlined cost accounting method that speeds up, simplifies, and reduces accounting effort in an environment that minimizes inventory balances, requires
A market condition in which futures prices are lower in the distant delivery months than in
business intelligence (BI) system
a formal process for gathering and analyzing information and producing intelligence to meet decision making needs; requires information about
Another term for a repo.
Clearing House Automated Payments System (CHAPS)
A computerized clearing system for sterling funds
Clearing House Interbank Payments System (CHIPS)
An international wire transfer system for high-value
Contingent deferred sales charge (CDSC)
The formal name for the load of a back-end load fund.
cost control system
a logical structure of formal and/or informal
cost management system (CMS)
a set of formal methods
Discounted payback period rule
An investment decision rule in which the cash flows are discounted at an
With respect to a project financing, an arrangement under which the sponsors of a project
Du Pont system
A breakdown of ROE and ROA into component ratios.
Dupont system of financial control
Highlights the fact that return on assets (ROA) can be expressed in terms
Electronic Federal Tax Payment Systems (EFTPS)
An electronic funds transfer system used by businesses to remit taxes to the government.
enterprise resource planning (ERP) system
a packaged software program that allows a company to
Enterprise resource planning system
A computer system used to manage all company
Refers to the investors percentage ownership of a company that can be re-acquired by the company, usually at a pre-determined amount.
European Monetary System (EMS)
An exchange arrangement formed in 1979 that involves the currencies
Federal Reserve System
The central bank of the U.S., established in 1913, and governed by the Federal
Federal Reserve System
The central banking authority responsible for monetary policy in the United States.
The retrospective process of measuring performance, comparing it with plan and taking corrective action.
Fixed-charge coverage ratio
A measure of a firm's ability to meet its fixed-charge obligations: the ratio of
Fixed Charge Coverage Ratio
A measure of how well a company is able to meet its fixed
flexible manufacturing system (FMS)
a production system in which a single factory manufactures numerous variations
charge or assignment on a company's total assets as security for a loan on total assets without specifying specific assets.
hybrid costing system
a costing system combining characteristics
Imputation tax system
Arrangement by which investors who receive a dividend also receive a tax credit for
Canada's bank machine and electronic debit system. If you use your bank card at a bank machine which displays the Interac symbol (and that bank machine is not your bank's machine), you will be charged a fee.
job order costing system
a system of product costing used
Just-in-time inventory systems
systems that schedule materials/inventory to arrive exactly as they are
just-in-time manufacturing system
a production system that attempts to acquire components and produce inventory only as needed, to minimize product defects, and to
Limitation on sale-and-leaseback
A bond covenant that restricts in some way a firm's ability to enter into
system whereby customers send payments to a post office box and a local bank collects and processes checks.
An option that allows the buyer to choose as the option strike price any price of the
The offsetting of a current year loss against the reported taxable
MACRS (Modified Accelerated Cost Recovery System)
A depreciation method created by the IRS under the Tax Reform Act of 1986. Companies must use it to depreciate all plant and equipment assets installed after December 31, 1986 (for tax purposes).
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
Modified Accelerated Cost Recovery System (MACRS)
Depreciation method that allows higher tax deductions in early years and lower deductions later.
Securities backed by a pool of mortgage loans.
Mortgage-Backed Securities Clearing Corporation
A wholly owned subsidiary of the Midwest Stock
A technical trading strategy that combines mechanical rules, such as the CRISMA
A cost, such as depreciation, depletion, and amortization, that does not involve any cash outflow.
Nonmarket or firm-specific risk factors that can be eliminated by diversification. Also
Normal backwardation theory
Holds that the futures price will be bid down to a level below the expected
normal cost system
a valuation method that uses actual
system whereby a depositor may write cheques in excess of the balance, with the bank automatically extending a loan to cover the shortage.
The length of time it takes to recover the initial cost of a project, without regard to the time value of money.
A method of investment appraisal that calculates the number of years taken for the cash flows from an investment to cover the initial capital outlay.
The length of time required for the net revenues of an investment for the net revenues of an investment to return the cost of the investment.
A capital budgeting analysis method that calculates the amount of
The number of years necessary for the net cash flows of an
the time it takes an investor to recoup an
Time until cash flows recover the initial investment of the project.
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
Periodic inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold only at the end of the period.
Perpetual inventory system
An inventory system in which the balance in the Inventory account is adjusted for the units sold each time a sale is made.
Planning, programming and budgeting system (PPBS)
A method of budgeting in which budgets are allocated to projects or programmes rather than to responsibility centres.
Related: retention rate.
Fraction of earnings retained by the firm.
A bank machine network outside Canada, across the U.S. and internationally. Customers who use a bank machine with a 'PLUS' symbol may be charged a fee.
See market mechanism.
process costing system
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
Progressive tax system
A tax system wherein the average tax rate increases for some increases in income but
a production system dictated by product sales
A materials flow concept in which parts are only withdrawn after a
the traditional production system in which
A materials flow concept in which parts are issued based on planned
an inventory ordering system in which a red
The commission charged by a mutual fund when redeeming shares. For example, a 2%
responsibility accounting system
an accounting information system for successively higher-level managers about the performance of segments or subunits under the control
A special, nonrecurring charge taken in conjunction with a consolidation
Costs associated with restructuring activities, including the consolidation and/or relocation of operations or the disposition or abandonment of operations or productive assets.
Sale and lease-back
Sale of an existing asset to a financial institution that then leases it back to the user.
Sale and Leaseback
An agreement in which the owner of a property sells that property to a person or institution and then leases it back again for an agreed period and rental.
The fee charged by a mutual fund when purchasing shares, usually payable as a commission to
Nonrecurring losses or expenses resulting from transactions or events which,
Split-rate tax system
A tax system that taxes retained earnings at a higher rate than earnings that are
standard cost system
a valuation method that uses predetermined
Stripped mortgage-backed securities (SMBSs)
Securities that redistribute the cash flows from the
Expense charges applied when the owner of a policy surrenders a policy for its cash value.
The sale of an interest rate swap by one counterparty to the other, effectively ending the swap.
Common to all businesses.
Also called undiversifiable risk or market risk, the minimum level of risk that can be
The amount of total risk that cannot be eliminated by portfolio
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