Category: Finance Dictionary

A code an account is given to show its general purpose. It can be savings, checking, or brokerage for example.

Trade credit created by a company when it permits a client to pay in the future for goods or services that have already been delivered by the company. A client company is

The institue of chartered secretaries and adminstrators associate.

An act exercising power or a country that cannot be overturned by the courts.

Oral agreement that counts as a contract. Refer to apparent authority.

When some minor points are undecided in a contract.

A non-biological element that has an affect on the ecosystem. The opposite of a naturally occurring environmental element.

The costs of manufacturing that are not related to production. They can be taxes, insurance, and building expenses. These costs are linked to a separate account.

An error in the system or theft that can cause significant reduction in a company’s inventory. The loss exceeds the normal allowable level.

1. Accounting: When related accounts are absorbed into each other. Called an absorption account. 2. Economics: Total amount spent by a country on goods and services. Account deficits or surplus occurs when

A large amount of inventory waste that may be caused process inefficiency. Eventually this leads to abnormal loss. Abnormal spoilage is another term for this. The same can be applied to computers.

Refuseal, from one bankruptcy court, to get involved with a matter of another court with jurisdiction

While not an exact term ‘about’ signifies not more or less than 10 percent of the stipulated amount, quantity, or unit price. Refer to the definition of approximately.

A written statement about a complex work that contains only the basic gist. It is usually written by another author. Other terms that might help are abridgment, digest, outline, pr

This occurs when the economy produces goods at a higher rate than normal. The level of normalcy is decided by the gross domestic product or the GDP. This causes the market to

Something that is harder to understand for those with only basic knowledge on the topic.

Risks whose nature is not technically calculatedly. Usually associated with the political climate, market variations, and price fluctuation.

The basic abuse of power that can occur when they become too manipulative with those around them and the trust given to them.

A good or service that is more costly that its competitors.

An index used to derive the value of a mortgages subprime. A credit default to exchange is used to help those with weak credit. It has four series each containing 20 bonds.