Part 0 - Any Sources Flashcards
Layaway credit
Place a deposit and “lay the product away”, then pay balance while pickup
Installment, revolving
~ (above)
Corporate governance
System of rules, procedures and practices, controlled
Overhead expenses
Ongoing business expenses that cannot be directly attributed to a specific activity
Call market
Market participants place orders to buy or sell at certain bid or offered (ask) prices, which are then batched together and matched at predetermined time intervals
Liability
Legal debts a company owes to third-party creditors
Whims
Sudden desire/change in mind, usually unexplained
Assertive
Forceful personality
Underwriter
Party or individual, assumes risk for exchange payment (insurance premium)
Treasurer
Oversees company’s cash management, capital managing, investments
Standard setting bodies
Professional org.s setting standards for accounting
Accounting regulation
Include standards
GAAP (not an org)
Generally accpeted accounting principles
FASB
As covered above, under SEC and aims to improve GAAPs
*SEC
Securities and Exchange Commission (securities market only)
Professional organization
Professional association better, associations related to a specific skill or job
AICPA
American Institute of Certified Public Accountants
Securities Act
1933
Securities Exchange Act
1934
Trust Indenture Act
1939
Accrued expenses
= Liabilities, unpaid payments
Break-even point
When a business starts to profit, covers up cost of investment
Amortization
Spreading out payments over time
Internal rate of return
Discount rate at which the net present value (NPV) of an investment equals zero