The ratio is found by dividing the most liquid current assets cash, marketable securities, and accounts receivable by current liabilities. Glossary of risk management terms this is a comprehensive. A glossary of terms october 2011 1175 ross burnside and allan campbell this briefing has been produced for new members of the finance committee, and msps generally wishing. It was compiled to assist operations management students in courses at the university of michigan business school. This glossary focuses in particular on financial terms relevant to the uk government.
Certified public accountant cpa accountants who meet specific educational requirements and pass a national examination auditor professional whose work involves checking. To help you achieve this goal, were offering this authoritative. From 401ks to zerosum investments, the glossary is an evolving reference for investors and. The track chosen by a database management system to collect data requested by the enduser. Glossary of terms used in financial management flashcards. A company can expanddiversify its business internally or externally which can also be known as internal growth and. A bank account specifically set up by a business owner to float money through from business a to enhance the perceived value of business b. Liability arising from extremely dangerous operations.
Use s personal finance glossary to find easytounderstand definitions for key terms used in personal finance and money management so you can make informed financial decisions. Social welfare finance consists of elements of public. The following glossary is designed to help nonfinance experts understand some of the terminology used in public agency financial management. Accounting officer the senior official ultimately responsible for all spending of a.
Gao05734sp a glossary of terms used in the federal. The term and concept comes from agile project management techniques in the software. A formal statement of management s expectations of sales, expenses, volume, and other financial transactions of an organization. Glossary of project management terms and acronyms used by project managers and business professionals. In banking, it is the person in whose favor a letter of credit is issued or a draft is drawn.
Brief glossary of financial management terms city of huntington. Glossary of finance terms national association of counties. Fmr home about the fmr key links policy memoranda archives fmr help contact us. Social welfare finance consists of elements of public finance, together with voluntary, or nonprofit, finance as these apply to the human services. Agency relationship the term agency relationship describes the relationship between management and shareholders. A slang term used to refer to something favorable that has happened in business. The most comprehensive investing glossary on the web. Financialmanagement terms small business encyclopedia. An iterative unit of time, typically a one, two, or four week period. Bear market a bear market is a prolonged period of falling stock prices, usually marked by a decline of 20% or more. Many businesses use credit for supplies, raw materials, or inventory purchases.
Financial management and analysis of projects glossary. Establishing standardized definitions for common project management terms is a challenge, even for seasoned pros. Glossary of utility finance and accounting terms used in our seminars letters in parenthesis, preceding the definition, identify the sources used in compiling the glossary. Administrative expenses costs of managing and running. This glossary is a basic reference document for the congress, federal agencies. Basic investment terms creative capital management. A nongaap financial measure used to assess each of the banks businesses and to measure the banks overall performance. It explains how management act as agents for shareholders, using their delegated powers to run the business in the best interests of the shareholders administration administration is a term used to describe a situation relating to the possible insolvency of a business. Public agency financial management frequently involves terms that are unfamiliar to nonexperts, the definitions of which also involve. If youre a new business owner, you may be hearing some terms youre not familiar with. A tool used to organize ideas, usually generated through brainstorming, into groups of related thoughts. A bailout, in economics and finance, is a fresh injection of liquidity given to a bankrupt or nearly. Glossary 169 board also board of directors n c usually singular the group of people who have been elected by shareholders to manage a company bonus n c an extra amount of money added to an employees wages, usually as a reward for doing difficult work or for doing their work well boom1 n c,u 1 a time when business activity increases.
The companies selected typically are in different industries and. The complete glossary of project management terminology. Public finance is concerned with taxation as the most important governmental revenue source, and assessment of the fiscal impact of public policy. Therefore, it is important for a business to manage its finances efficiently. A glossary of terms october 2011 1175 ross burnside and allan campbell this briefing has been produced for new members of the finance committee, and msps generally wishing to familiarise themselves with commonly used public finance terminology. Having launched it originally in 2004 we have now updated it with modern terminology to meet with the increasing demand for the book. A term referring to the refund of previously paid prop erty taxes due to the overvaluation of property. Glossary of marketing definitions sponsored by ifla section on management and marketing updated and corrected version january 2001 prepared by dr. Accounting officer the senior official ultimately responsible for all spending of a government department or arms length body. Juran is the founder of the juran institute which has long been the vehicle of his work in quality management and is wellknown.
Feb 24, 2017 establishing standardized definitions for common project management terms is a challenge, even for seasoned pros. A record that holds the results of financial transactions. Glossary suddenly lose a lot of value 2 i,t if a computer crashes, or if you crash a computer, it suddenly and unexpectedly stops working crisis nplural crises c,u 1 a period or moment of great difficulty. Financial management for elected officials january 20 institute for local government. Glossary financial and banking terms adjusted results. Acquisition method production of consolidated financial statements for an acquisition. The forbes financial glossary defines hundreds of finance terms to help you decode the puzzle.
Koontz florida state university florida resources and environmental analysis center tallahassee, fl. Bare trustee a bare trustee holds property on trust for another person until asked to return the property. A planning tool that assists management in its attempts to cope with. This is an accounting term that refers to the credit debt your business has incurred. Glossary of risk management terms this is a comprehensive list of insurance terms.
Expenditures within capital projects may include costs for the planning, design, and construction management. The companies selected typically are in different industries and different geographic regions. The accounting officer for a government department is usually the permanent secretary. Assets resources with economic value owned by a company, fund, or individual. Account a fiscal and accounting entity with a selfbalancing set of. This glossary contains more than 600 terms and provides simple, clear explanations. Basic investment terms annuity a financial product sold by financial institutions pay out a stream of payments to the individual at a later point. Your pocket guide to understanding financial terms. The guide is an important resource that will help to create a much greater understanding of. Finance is the lifeblood of business and there must be a continuous flow of funds in and out of a business enterprise. Therefore, it is important for a business to manage its. The following glossary is designed to help non finance experts understand some of the terminology used in public agency financial management.
Wright, director of the thomas willing institute for the study of financial markets, institutions, and regulations and the nef family chair of political economy, augustana college sd this work is not ed. Financial management cash float accounts definition. To help you achieve this goal, were offering this authoritative reference guide, pulling together a complete list of project management terminology. This glossary includes terms pertinent to operations management. His work has specialized in linking management to quality engineering. Understanding these terms and acronyms is an important. Having launched it originally in 2004 we have now updated it with modern. Account a fiscal and accounting entity with a selfbalancing set of general ledger codes in which cash and other financial resources, together with all related liabilities and residual equities or. Annual management charge this is a yearly charge made by the managers of unit trusts or investment trusts. Balanced fund mutual funds that seek both growth and income in a portfolio with a mix of common stock, preferred stock or bonds.
Wealth maximisation is the main objective of financial management and growth is essential for increasing the wealth of equity shareholders. Glossary financial management and analysis of projects 6 of 51 beneficiary a person who benefits from the terms of a trust, pension or provident fund, or other deferred income plan, or an insurance policy. Glossary financial management and analysis of projects 7 of 51 budgetary control actions carried out according to a budget plan. Finance is the lifeblood of business and there must be a continuous flow of funds in and out of a. Glossary suddenly lose a lot of value 2 i,t if a computer crashes, or if you crash a computer, it suddenly and unexpectedly stops working crisis nplural crises c,u 1 a period or moment of great difficulty, danger, or uncertainty, especially in politics or economics adj, v n c adj, v t n c. As an introduction to financial management, in this article, we will look at the nature, scope, and significance. A form of corporation, allowed by the irs for most companies with 35 or fewer shareholders, which enables the company to enjoy the benefits of incorporation but be taxed as if it were a partnership. The basis of accounting under which revenues are re corded when earned and expenditures are recorded as soon as they. It explains how management act as agents for shareholders, using their. Glossary of terms ac american international group aig.
Sound plans, efficient production system and excellent marketing network are all. Start studying glossary of terms used in financial management. Manual for financial management and control model is structured to establish a. Account a fiscal and accounting entity with a selfbalancing set of general ledger codes in which cash and other financial resources. Glossary fair credit and charge card disclosure act a part of the truth in lending act that mandates a box on credit card applications that describes key features and costs i. Project management glossary of terms page 3 fall 2007 acronyms aashto american association of state highway and transportation officials acec american council of engineering companies acwp actual cost of work performed afrs agency financial reporting system api applications programming interface bc benefitcost bac budget at completion. This az pocket guide to understanding financial terms is just one of the achievements of ebss partnership with nala. For example, an employee receiving a raise may reply with the words cool beans, upon receiving the news.
Not all concepts or coverages identified in this list are found at chapman university. The basis of accounting under which revenues are recorded when earned and expenditures are recorded as soon as they result in liabilities for benefits received. Project management glossary of terms page 8 fall 2007 budget the approved estimate for the project or any work breakdown structure component or any schedule activity. This list of 30 business phrases can help you understand some of the jargon. Glossary of business management terms the balance careers. Through the use of a budget as a standard, an organization ensures that managers are implementing its plans and. Barter this is a way of paying for things, without using money, by exchanging goods. Public agency financial management frequently involves terms that are unfamiliar to nonexperts, the definitions. Learn vocabulary, terms, and more with flashcards, games, and other study tools. However, finances, like most other resources, are always limited. The growth can be achieved through expanding its existing markets or entering in new markets. Certified public accountant cpa accountants who meet specific educational requirements and pass a national examination auditor professional whose work involves checking on the accuracy of work completed by bookkeepers and accountants bank teller bank employee who handles deposits. Glossary of important business, economic, and financial history terms by robert e.
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