Category: O

Term used for second hand items that describes limited scope for negotiation with the buyer.

Standardized instructions for the replenishment of stock, such as when order point is reached or when stock is completely exhausted.

Repairs to assets caused by day-to-day wear and tear that are required to maintain the asset?s functionality. These repairs do not increase the value of capital assets, they merely preserve value.

Founded in 1968 by conservative Arab states intending to generate international economic cooperation among petroleum producing and exporting countries.

This process entails staffing and resource allocation to immediate and long-term goals, and is one of the most vital responsibilities of a management team.

To commence existence.

A record of a company?s debt obligations that don?t pay out interest on the loan?s principal amount.

Money that the company must pay out (e.g. salaries, supplies, rents, taxes). Hopefully, the total outbound cash flow will be less than inbound cash flow (i.e. money coming into the business).

A market analyst recommendation that means a stock will generate slightly better returns than the market as a whole.

Credit balance in a factory overhead account, caused by over-estimating the cost of overheads in a given period.

Describes the bit of roof that extends beyond an exterior wall.

The risk that a seller in a different time zone might not fulfil their obligation, which the buyer will only discover on the following trade day. The greater the time zone difference,

Medicines that can be purchased from a pharmacist without prescription.

1. Accounting: The goods or services that was purchased. 2. Modeling: The modeling arhitecture’s portrayal of a real world situation through a representation. 3. Programming: A program that consists of data and

Items that are replaced due to their fall in value or functionality as a result of the availability of cheaper and better stock. They are cleared through the use of significant discounts

A breach of contract is possible if the principal requirements that is so integral to the contract is not fulfilled.

A strategy implemented by a company that intends to stay ahead of its competition, through investments in technology and research and development. This strategy is particularly useful when trying to change the

The value of the nation’s reserve holdings encompassing gold reserves, tradable foreign currencies and special drawing rights.

A mutual fund that is located in financial center that is located in another country, which is also referred to as offshore financial center (OFC)

A layer of crude or refined oil covering a large area of the soil or sea water caused by a leaking oil tanker.