Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: F

FULLY AMORTIZING LOAN

Typical loan with no balloon payment at the beginning or end of the loan. Has only regular, periodic payments.

FUNCTIONAL BASED ACCOUNTING

A means to evaluate performance, determine status quo, determine organizational stability. An accounting method using organizational units to measure outcomes, statistical standards and benchmarks.

FUNCTIONAL VERIFICATION

Assurance a product or part meets all performance and material requirements. Confirmation dynamically by peer review or statically by approved scripts and cases. A process of quality control.

FUTURES OPTION

An EXCHANGEtraded OPTION contract granting the buyer the right, but not the obligation, to buy or sell a FUTURES contract at a prespecified STRIKE PRICE. See also FUTURES CALL, FUTURES PUT.

FACTOR COST

The cost of the factors of production used to make something.

FAIL TO RECEIVE

A situation where a buying DEALER has not received securities from the selling dealer, and will thus not make its payment. Fails are commonly used as a measure of operations-based PROCESS RISK.

FAMILY DEPENDENT

A party that is covered because they are the spouse or child of the policyholder.

FAT TAIL

A portion of a statistical distribution that is wider or larger than expected, increasing the probability that an extreme or unexpected value will result.

FIBER OPTIC TRANSMISSION

Sending signals as pulses of light through a media to get the most of it. The most possible is 2 trillion b/s. It is immune to static and is secure as well.

FIELD SERVICE ADVICE

A memo about a rulig on taxes by the IRS that a tax payer asked for. It is done by guidelines and is binding but not legal precedent.

FILING HIERARCHY

Arrangement of files in a system that stores them as principle of subordination. It uses high and low criteria.

FINANCIAL COMMITMENT

Commiting to a big expense in the future. They are liabilites and are on a balance sheet even if its not yet happened. When it happens it will be a liabilty. Refer

FINANCIAL IMPACT

A cost or profit loss that happens due to disaster that is beyond control. This can be due to disaster, market conditions, or product failure.

FINANCIAL PLANNING

A long term profit planning that gets more profit and solves problems that exist.

FINANCIAL STABILITY PLAN (FSP)

A plan to stablize the economy used in the US in 2008-2009. It was intended to solidify the banking systems, stock market, and mortgage markets. It was administered by President Obama.

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