(from various references )
Account Receivable = An amount owed by a debtor. It is usually money or other value claimed for sale of goods or services.
Amortization = The reduction of debt by systematic payments. Sometimes applied to assets with indefinite life or other financial obligation.
Annual Equivalent = the individual amount of a uniform series of payments that has a specified present or future value. (see Equivalent Value below).
Annuity = A series of equal payments at equal time intervals. Usually at yearly or monthly intervals. Abbreviated as A.
Annuity Factor = factor that converts a Present Value to an annuity. Abbreviated as A/P . Also called the Capital Recovery Factor
Annuity Fund = fund required to pay a specified annuity. Abbreviation P/A .
Appropiation to = assign respossibility (cost, revenue) to an individual, unit, organization, etc.
Array = mathematical term denoting a multi dimensional table of values . An Array Variable can have a simple name and represent an array of values. e.g. a 3 by 4, two dimensional array is a three row by four column table.
Asset = a money, physical, intangible, or other resource sesource that usually is quantified.
Average Interest Method = "A method of computing required return on investment based on the average book value of an asset during its life or during a specified study period." (ref. Szonyi)
Balance Sheet = the formal stament of the financial position of an entity (individual, institution, agency, corporation, etc.) at an instant in time. The ballance sheet is based on the conservation model stated in the form: Assets = Liabilities, or Assets = Liabilities + Owner's Equity. THE BALANCE-SHEET BALANCES The balance sheet has two sides. The numbers on each side must add up to the same total. The balance sheet balances. On one side of the balance sheet are Assets (Owned things of value ). On the other side are Liabilities (debts owed) ,and Capital (the owners' equity,). Every entry into or out of one part of the balance sheet must be balanced by a corresponding entry in another part of the balance sheet. This is so that the bottom totals will remain in balance. This is basic double-entry bookkeeping.
Bond - financial for financial purposes it is a formal "certificate of indebetness" that contains the face value, the timing, amounts and methods of payment interest and the face value. A coupon bond typically is one of a series issued for a fixed amount such as $1000 and includes a series of dated coupons that state the amounts that will be paid by the issuer of the bond. Bonds normall are loans against assets such a land, improvements, mineral deposits, etc wit the understanding that the can be sold to cover the debt if the issuer cannot meet the financial obligations inferred by the bond.
Bond - legal "An obligation in writing, sometimes supported by collateral, given by an individual or corporation to another individual or corporation to pay damages or to indemnify against losses caused by a third party through non performance of a contract or other duties or by defalcation. (e.g. , a builder's performance bond or an employee fidelity bond)" (ref. Szonyi)
Book Value = the recorded value of an asset = first cost less decline in value due to depreciation, depletion, etc. to time of statement. Current Book Value implies the vlaue reflected on the current ballance sheet.
Break-even = the situation where costs are equal to revenues. There are several types of situations where the idea of break-even are implied. The ommon ones are the length of time an activity is expected to earn sufficient revenue to cover costs, another is the amount of product and revenue required to cover costs. See NOP Number of Periods calculations.
Burden "usually a synonym for Overhead". ref. Szonyi.
Capital Recovery Factor = factor that converts a present value to a series of equal payments. Abbreviated as A/P . also called the Annuity Factor
Cost = Costs are usually thought of an amount expended, or sometimes used as a synonym for Price. Costs are actually a function of the accounting scheme in use and are xpplicitly or implicitly defined by it.
Creativity = the process of generating better alternatives according to acceptable criteria.
Economic Decision Making = selecting the best of competing alternatives according to economic criteria.
Equivalent Value = any sum, or series of sums of money that are considered to be equal to another set of sums at other points in time. Equivalency is the central notion in Engineering Economy and Time Value calculations.
External Rate of Return
Internal Rate of Return
Investment = spending or saving money with the expectation of return.
Opportunity Cost = the potential return from alternitive investments forgone by accepting an opportunity to invest.
Overhead = Those expenses which are required for operation, but that are not directly attributable to a particular part of the operation or enterprise.
End to date: 040414, ams