The maximum amount of insurance a company can write without seeking a reinsurer.

A budget with grouped cost centers or departments as individual financial statement items. Current and future period estimated figures is compared to past accounting or budgeting period financial data.

A revenue-generating department’s head manager accountable for policy making, target setting, decision making leading to successfully meeting an organization’s main objectives.

self-contained departments defining the business or industry structure. Each department manager control over department’s affairs and employees. Accountability goes upwards from the bottom along the chain of command, while authority travels downwards

Customs approved system for tracking and release of repetitive, low risk shipments. It is restricted to locations approved by Customs. Bar code technology enables immediate item entry that Customs declares to be

Repetitive manufacturing process with the same operations sequence each product passes through. The machines and peripheral equipment are in the order they are used. The process is not stopped and restarted for

Daily operations such as purchasing, manufacturing, and selling associated with its organizational decision making areas. Also refer to staff function.

An asset that provides payoff. Refer to nonlinear instrument.

1. A scheduled service between fixed ports on a trade route by such a cargo and/or passenger transport shipping line operations. 2. Material placed between two other materials to serve as a

Long distance cargo transport for more than 1,500 kilometers or 1,000 miles between two major cities or ports.

Mathematical computer modeling simulation technique. Calculated the best solutions for allocating energy, machines, materials, money, personnel, space, time, as limited resources to achieve maximum profit or minimum cost. Applies only where every

Bank and customer arrangement to cover checking account or credit card limit overruns by allowing the back to withdraw funds from another of the customer’s account like a savings account.

A firm markets one or more new products in an established and well-known brand name as a multi-product branding strategy. The objective is to take advantage of widespread name recognition of the

Mainly methane and ethane, natural gas as a liquid is 1/600th of its volume as a gas. LNG is stored and transported in insulated pressure containers. Compressed at moderate pressure, but unlike

In a surplus treaty a reinsurer agrees to accept this amount.

Cash compensation, agreed to by signed, written contract for breach of contract, payable to the aggrieved party. The contract succinctly specifies what actions, or omissions, constitute a breach. To be legally enforceable,

World’s most popular non-proprietary open source computer operating system (OS). Its proven efficiency, dependability, and reliability is the reason for its popularity. Linux runs the UNIX OS core ‘kernel’ on nearly every

Tasks, functions, departments, and organizations integrated to achieve shared objective are related to each other, having interactions that promote the flow of information and ideas.

A single-color drawing having little or no solid areas, no shading effect other than crosshatching, like one made with a pen or pencil. Line art can be printed without conversion to a

An entity holding a property as a life estate. Also known as tenant for life.