Sound plans, efficient production system and excellent marketing network are all. Accounting officer the senior official ultimately responsible for all spending of a government department or arms length body. Having launched it originally in 2004 we have now updated it with modern terminology to meet with the increasing demand for the book. In banking, it is the person in whose favor a letter of credit is issued or a draft is drawn. 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. Not all concepts or coverages identified in this list are found at chapman university. The companies selected typically are in different industries and. 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. Therefore, it is important for a business to manage its.
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. It explains how management act as agents for shareholders, using their. As an introduction to financial management, in this article, we will look at the nature, scope, and significance. Finance is the lifeblood of business and there must be a continuous flow of funds in and out of a business enterprise.
To help you achieve this goal, were offering this authoritative reference guide, pulling together a complete list of project management terminology. Annual management charge this is a yearly charge made by the managers of unit trusts or investment trusts. A company can expanddiversify its business internally or externally which can also be known as internal growth and. Glossary of terms used in financial management flashcards.
Glossary financial management and analysis of projects 7 of 51 budgetary control actions carried out according to a budget plan. Learn vocabulary, terms, and more with flashcards, games, and other study tools. Acquisition method production of consolidated financial statements for an acquisition. 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. A formal statement of management s expectations of sales, expenses, volume, and other financial transactions of an organization. Public agency financial management frequently involves terms that are unfamiliar to nonexperts, the definitions of which also involve. Fmr home about the fmr key links policy memoranda archives fmr help contact us.
Manual for financial management and control model is structured to establish a. A nongaap financial measure used to assess each of the banks businesses and to measure the banks overall performance. A slang term used to refer to something favorable that has happened in business. This glossary focuses in particular on financial terms relevant to the uk government.
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. The most comprehensive investing glossary on the web. Basic investment terms creative capital management. Balanced fund mutual funds that seek both growth and income in a portfolio with a mix of common stock, preferred stock or bonds. From 401ks to zerosum investments, the glossary is an evolving reference for investors and.
An iterative unit of time, typically a one, two, or four week period. Glossary of project management terms and acronyms used by project managers and business professionals. Brief glossary of financial management terms city of huntington. Glossary of terms ac american international group aig. 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. This az pocket guide to understanding financial terms is just one of the achievements of ebss partnership with nala. 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. 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. 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. Juran is the founder of the juran institute which has long been the vehicle of his work in quality management and is wellknown. Agency relationship the term agency relationship describes the relationship between management and 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. Therefore, it is important for a business to manage its finances efficiently.
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. The track chosen by a database management system to collect data requested by the enduser. Financial management and analysis of projects glossary. However, finances, like most other resources, are always limited. His work has specialized in linking management to quality engineering. The forbes financial glossary defines hundreds of finance terms to help you decode the puzzle. Public finance is concerned with taxation as the most important governmental revenue source, and assessment of the fiscal impact of public policy. Public agency financial management frequently involves terms that are unfamiliar to nonexperts, the definitions. Many businesses use credit for supplies, raw materials, or inventory purchases.
Barter this is a way of paying for things, without using money, by exchanging goods. Having launched it originally in 2004 we have now updated it with modern. Feb 24, 2017 establishing standardized definitions for common project management terms is a challenge, even for seasoned pros. Certified public accountant cpa accountants who meet specific educational requirements and pass a national examination auditor professional whose work involves checking. Glossary of business management terms the balance careers. Basic investment terms annuity a financial product sold by financial institutions pay out a stream of payments to the individual at a later point. 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. Bear market a bear market is a prolonged period of falling stock prices, usually marked by a decline of 20% or more. A tool used to organize ideas, usually generated through brainstorming, into groups of related thoughts.
A term referring to the refund of previously paid prop erty taxes due to the overvaluation of property. Glossary of finance terms national association of counties. Expenditures within capital projects may include costs for the planning, design, and construction management. The ratio is found by dividing the most liquid current assets cash, marketable securities, and accounts receivable by current liabilities. A bailout, in economics and finance, is a fresh injection of liquidity given to a bankrupt or nearly. Liability arising from extremely dangerous operations. A planning tool that assists management in its attempts to cope with. If youre a new business owner, you may be hearing some terms youre not familiar with. Glossary of risk management terms this is a comprehensive list of insurance terms. This list of 30 business phrases can help you understand some of the jargon.
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. The growth can be achieved through expanding its existing markets or entering in new markets. Financialmanagement terms small business encyclopedia. This glossary contains more than 600 terms and provides simple, clear explanations. Accounting officer the senior official ultimately responsible for all spending of a. Establishing standardized definitions for common project management terms is a challenge, even for seasoned pros. The complete glossary of project management terminology. Finance is the lifeblood of business and there must be a continuous flow of funds in and out of a.
Account a fiscal and accounting entity with a selfbalancing set of general ledger codes in which cash and other financial resources. The following glossary is designed to help nonfinance experts understand some of the terminology used in public agency financial management. 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. 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. It was compiled to assist operations management students in courses at the university of michigan business school.
The term and concept comes from agile project management techniques in the software. The following glossary is designed to help non finance experts understand some of the terminology used in public agency financial management. 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. Koontz florida state university florida resources and environmental analysis center tallahassee, fl. A record that holds the results of financial transactions.
Glossary of risk management terms this is a comprehensive. Account a fiscal and accounting entity with a selfbalancing set of. The companies selected typically are in different industries and different geographic regions. Understanding these terms and acronyms is an important. Glossary of marketing definitions sponsored by ifla section on management and marketing updated and corrected version january 2001 prepared by dr. Your pocket guide to understanding financial terms. Financial management cash float accounts definition. Social welfare finance consists of elements of public. Social welfare finance consists of elements of public finance, together with voluntary, or nonprofit, finance as these apply to the human services. Glossary of important business, economic, and financial history terms by robert e.
To help you achieve this goal, were offering this authoritative. Glossary financial and banking terms adjusted results. Bare trustee a bare trustee holds property on trust for another person until asked to return the property. Through the use of a budget as a standard, an organization ensures that managers are implementing its plans and. The guide is an important resource that will help to create a much greater understanding of. Start studying glossary of terms used in financial management. The basis of accounting under which revenues are re corded when earned and expenditures are recorded as soon as they. Assets resources with economic value owned by a company, fund, or individual. Administrative expenses costs of managing and running. Gao05734sp a glossary of terms used in the federal. This is an accounting term that refers to the credit debt your business has incurred. 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. Financial management for elected officials january 20 institute for local government.
For example, an employee receiving a raise may reply with the words cool beans, upon receiving the news. This glossary is a basic reference document for the congress, federal agencies. The accounting officer for a government department is usually the permanent secretary. 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.
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