Convenience sampling is a non-probability sampling method where the sample is taken from a group that is easy to access or contact.
A convenience store primarily trades on the convenience it offers to customers. The products stocked may be influenced by local tastes or ethnic groups, and the stores often have extended hours and are conveniently situated in residential areas. They are often part of a chain.
In accounting, a convention refers to a general agreement, customary practice, or accepted norm that is followed by accountants in the preparation and presentation of financial statements. Accounting conventions aim to provide consistency and comparability across financial statements.
A conventional mortgage is a residential mortgage loan that is not insured by the Federal Housing Administration (FHA) or guaranteed by the Veterans Administration (VA). It often refers to a mortgage with a fixed term and a fixed rate.
Conversion is the tort equivalent to the crime of theft. It involves the unauthorized taking or use of someone else's property and can result in damages being awarded to the rightful owner.
The costs incurred in a production process as a result of which raw material is converted into finished goods. The conversion costs usually include direct labor and manufacturing overheads but exclude the costs of direct material itself.
Conversion parity is a concept in finance that refers to the equivalence between the value of a convertible security, such as a convertible bond, and the value of the common stock into which it can be converted.
The dollar value at which convertible bonds, debentures, or preferred stock can be converted into common stock; announced when the convertible security is initially issued.
The conversion ratio is a relationship that determines how many shares of common stock will be received in exchange for each convertible bond or preferred share when the conversion takes place.
A conversion right is a provision under the terms of a debenture trust deed that provides the investor with an option to convert their debt into equity.
A converter is an active real estate entrepreneur who changes the ownership and/or physical configuration of property.
A currency for which there are no barriers or restrictions in the foreign exchange market, allowing it to be freely exchanged for other currencies.
Convertible securities can be crucial financial instruments for both investors and companies, offering the potential for conversion into common stock under specific conditions.
Convertible Term Life Insurance is a type of life insurance coverage that can be converted into permanent insurance regardless of the insured's physical condition, and without a medical examination.
Convertibles are corporate securities, typically preferred shares or bonds, that are exchangeable for a set number of another form, commonly common shares, at a preset price.
In real property law, 'convey' refers to the transfer of property from one party to another through a written instrument and other necessary formalities.
Conveyance refers to the act of transferring the title of real estate property from one party to another. This term can also denote the medium or method used to effect such transfer.
Conveyancing is the legal process of transferring property ownership from one person to another. It involves a series of administrative and legal checks to ensure the transaction is legitimate and secure.
To falsify financial records or statements with the intention of misleading others about the financial performance or financial position of an accounting entity.
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A cooling-off period is an interval designated by regulation or agreement, during which specific actions, such as the launching of securities to the public or striking by a union, are prohibited to provide time for due consideration and resolution.
A cooperative, commonly known as a co-op, is a type of corporate ownership of real property where stockholders of the corporation are entitled to use a certain dwelling unit or other units of space. It can also be an organization for the production or marketing of goods owned collectively by members who share the benefits.
A cooperative, or co-op, is a real estate arrangement where tenants or members own shares in a corporation that owns the building, and often entails collaboration between agents in real estate transactions.
Cooperative advertising, often referred to as co-op advertising, is a cost-sharing arrangement where manufacturers and retailers or distributors collaborate to promote a product or brand. This mutually beneficial strategy leverages the strengths and resources of both parties to optimize marketing efforts and expand market reach.
Cooperative Advertising, also known as co-op advertising, is a strategic partnership between manufacturers and retailers where the manufacturer provides financial support to the retailer for advertising expenditures. This collaboration aims to boost the brand and sales of both parties by combining resources and efforts in advertising campaigns.
Computer software that cannot be fully copied by the software tools normally used for such purposes, designed to prevent unauthorized duplication.
Copyright is the protection granted by statute or by the common law, giving artists and authors exclusive rights to publish their works or to determine who may do so.
The term 'core' has multiple definitions across various fields including technology, economics, and hardware, among others. This article provides a detailed definition, examples, frequently asked questions, related terms, and suggested resources for further study.
Core competence refers to a distinctive employee, product, or service capability that leads to a long-term organizational advantage.
Core inflation is the measure of inflation which excludes certain volatile items, usually food and energy, to provide a clearer picture of the long-term inflation trend.
Core values are the fundamental beliefs or guiding principles of an organization or individual. These values dictate behavior and help in decision-making, setting a foundation for organizational culture and personal conduct.
A statistical geographic entity comprised of at least one core area with a population of at least 10,000 people, along with adjacent counties that have high social and economic integration with the core.
A corner lot is a parcel of land that is bounded on at least two sides by the intersection of two roads. Corner lots are often considered more valuable because they offer greater visibility and ease of access.
An illegal practice of purchasing a security or commodity in such volume that control over its price is achieved.
A corporate acquisition involves one company purchasing most or all of another company's shares to gain control of that company, which can lead to significant structural and operational changes.
A Corporate Bond is a debt instrument issued by a private corporation, as distinct from one issued by a government agency or a municipality. Corporate bonds typically have three distinguishing features: they are taxable, have a par value of $1,000, and have a fixed maturity.
A corporate campaign is a program of coordinated advertisements aimed at improving a business's corporate image rather than specifically promoting the company's products or services.
A corporate charter is a legal document that establishes a corporation's existence and outlines its basic operational structure, rights, and responsibilities. Also known as articles of incorporation, it is filed with the state government and includes key details about the corporation.
Corporate culture refers to the general organizational operating environment, including ethical and value structures, impacting employees, management, and customer relations, as well as the types of products and services the organization produces, and the approaches to production, marketing, advertising, and service quality.
The use of various techniques to assess whether a company is likely to go into liquidation, utilizing models such as Altman's Z score and Argenti's failure model based on financial statements.
Corporate governance refers to the system by which companies are directed and controlled, focusing on the structure and relationships that determine corporate performance and accountability.
A code of best practice in corporate governance that outlines expected standards for UK's listed companies, originally issued with the Hampel Report of 1998.
An individual within a corporation who has access to privileged, non-public information about the company’s activities, often due to their significant shareholding or role within the company.
Corporate modelling involves the use of simulation models to assist the management of an organization in planning and decision-making. A budget is a quintessential example of a corporate model.
Corporate Performance Management (CPM) encompasses the methodologies, metrics, processes, and systems used to monitor and manage the business performance of an enterprise. CPM is a form of business intelligence used to gauge and manage organizational performance to achieve strategic goals and corporate initiatives.
Corporate reorganization involves significant changes in the structure of a corporation through mergers, acquisitions, divisive acquisitions, or other forms of restructuring.
Corporate reports are comprehensive packages of information that describe the economic activities of an organization. For limited companies, these typically take the form of annual reports and accounts, aimed at providing stakeholders with a detailed view of the company's financial health.
Corporate social reporting involves the disclosure of an organization's performance in social, environmental, and ethical dimensions. It reflects a company's commitment to social responsibility and transparency to stakeholders.
The notion that a company has responsibilities to society that go beyond its legal obligations and its duties to shareholders. CSR includes a company's impact on the environment, ethical issues, and internal policies regarding transparency and fair treatment of employees.
Corporate Social Responsibility (CSR) is a business model in which companies integrate social and environmental concerns in their operations and interactions with stakeholders.
Corporate strategic planning is a management process involving the determination of the basic long-term objectives of an organization and the adoption of specific action plans to attain these objectives. It encompasses the analysis of the environment, establishing objectives, performing situational analyses, selecting alternative strategies, and implementing and monitoring the strategic plans.
Setup of an organization in terms of departments and agencies; distribution and delegation of functional responsibilities throughout an organization. Reacting to a complex environment of business, the modern organization has become very complex, usually having many departments with a wide array of responsibilities.
The corporate veil is a legal concept that separates the actions and liabilities of a corporation from its shareholders or officers, offering them protection against personal liability. Courts may pierce the corporate veil to hold individuals accountable for a corporation's actions.
A former UK scheme designed to encourage established companies to invest in the full-risk ordinary shares of companies similar to those qualifying under the Enterprise Investment Scheme (EIS). Companies investing through the CVS obtained corporation tax relief (at 20%) on the amount invested, provided that the shares were held for at least three years. The scheme was discontinued in 2010.
Corporate Venturing Scheme (CVS) is an initiative where large corporations invest in small start-ups or emerging firms. This strategy helps established companies gain innovative capabilities while providing financial and strategic support to the emerging enterprises.
A corporation is a legal entity composed of individuals that acts as a single entity with distinct legal rights and liabilities, separate from its members. It can be created by various legal forms, and can either be composed of a single person or several individuals.
Corporation Tax (CT) is a tax charged on the total profits of a company resident in the UK during each accounting period. The rate of corporation tax varies depending on the level of profits of the company.
Corporation Tax (CT) is a tax imposed on the profits of corporations or businesses. This tax is calculated and administered by national governments and varies widely between countries.
Corporeal refers to having material reality and being the opposite of incorporeal or intangible. It is used to describe objects or entities that exist in physical form.
The term 'Corpus' refers to the principal or res of an estate, trust, devise, or bequest from which income is derived, consisting of funds, real estate, or other tangible or intangible property. In civil law, it refers to a positive fact, as distinguished from a possibility.
A correcting entry is an accounting entry made to fix an error in a previously recorded transaction to ensure that the financial statements accurately reflect the financial position and performance of a business.
Correlation refers to the statistical measure that describes the degree to which two variables move in relation to each other. Its value ranges between -1 and 1, indicating the strength and direction of the relationship.
A statistical measure of the degree to which the movements of two variables are related. It quantifies the direction and strength of the relationship between variables.
An examination of a tax return that is conducted largely by telephone or mail, usually involving substantiation or explanation of only a few items.
In financial contexts, a correspondent refers to a financial organization that regularly performs services on behalf of another institution within markets that the latter finds inaccessible. This commonly involves a depository relationship to cover expenses and streamline transactions.
A correspondent bank in a foreign country offers banking facilities to the customers of a bank in another country. These arrangements are usually the result of agreements, often reciprocal, between the two banks. The most frequent correspondent banking facilities used are those of money transmission.
Corresponding amount refers to an amount in the published financial accounts of a limited company that relates to the previous financial year to provide a basis for comparison.
A corridor is a long, narrow strip of land designated for a specific purpose such as a rail line, highway, pipeline, or overhead power line, facilitating efficient transportation or utility distribution.
The act of affixing one's signature on a contract, such as a loan, in addition to the principal signature of another. Both signers are liable for the loan or other contract.
A cosigner is an individual who agrees to take on the financial obligations of a loan or debt if the primary borrower defaults. This person provides assurance to the lender of repayment.
The expenditure on goods and services required to carry out the operations of an organization. Different methods of defining cost are used in accounting to reflect various aspects of financial reporting and decision making.
Cost absorption involves assigning all costs, both fixed and variable, to the product or service being produced or delivered.
The techniques used in collecting, processing, and presenting financial and quantitative data within an organization to ascertain the cost of cost centres and cost units and the various operations.
The Cost Accounting Standards Board (CASB) is a regulatory board established in the USA in 1970 by Congress to promote consistency and uniformity in cost-accounting practices among government contractors, facilitating accurate reporting of costs associated with government contracts.
Cost accumulation is the systematic process of gathering costs associated with production activities, allowing businesses to determine the total cost required to manufacture products in an organized manner.
Cost allocation is the process of assigning indirect costs to specific cost objects in a way that reflects resource consumption. This is crucial for making informed decisions, setting prices, and measuring profitability.
Cost and Freight (C&F) denotes a shipping agreement wherein the seller is responsible for covering the cost and freight to transport goods to a specified destination. However, the buyer assumes the responsibility for insurance once the goods are loaded onto the shipping vessel.
Cost Application refers to the allocation of costs to a product, process, or department using a rational allocation basis. For example, rent expense can be allocated to each department based on its square footage.
Cost apportionment, a vital concept in accounting, involves the distribution of costs across various departments, products, or periods based on specific criteria. This ensures that expenses are accurately allocated, enabling precise financial tracking and reporting.
The cost approach is a method of appraising property based on summing the reproduction cost of improvements, minus depreciation, to the market value of the site.
The process of determining the costs of the operations, processes, cost centres, and cost units within an organization.
Cost Assignment or Cost Attribution refers to the procedures by which direct or indirect costs are charged to or made the responsibility of particular cost centers, and ultimately charged to the products manufactured or services provided by the organization.
Cost basis refers to the original price of an asset and is fundamental in determining depreciation as well as capital gains or losses. Typically, it is the purchase price, but in cases of inheritance, it is the market value of the asset at the donor's death.
Cost Behaviour refers to the relationship and changes in total costs as a response to changes in activity levels within an organization, playing a crucial role in breakeven analysis and decision-making techniques.
A cost center is a non-revenue-producing segment of an organization where costs are separately figured and allocated, and for which someone has formal responsibility. Common examples include departments like Human Resources (HR) and IT services.
A cost centre is an area of an organization for which costs are collected for the purposes of cost ascertainment, planning, decision-making, and control.
Cost classification is the process of grouping expenditures according to common characteristics, facilitating the proper allocation and management of expenses within an organization.
Cost codes are standardized numerical systems used in accounting and project management to categorize and track specific types of expenditures.
Cost containment is the process of maintaining organizational costs within a specified budget, focusing on restraining expenditures to meet organizational or project financial targets.
Cost control refers to the techniques used by various levels of management within an organization to ensure that costs incurred fall within acceptable levels. It involves the provision of financial information to management by the accountant and the use of various techniques such as budgetary control and standard costing to highlight and analyze any variances.
Cost control accounts, also known as cost ledger control accounts, are essential for capturing and managing all costs associated with a company's production processes.
The cost convention refers to the basis used for recording costs charged against profit during an accounting period, which can be based on historical cost, current cost, or replacement cost.
Cost depletion refers to the method used to recover the tax basis in a mineral deposit by deducting it proportionately over the productive life of the deposit. It is contrasted with the percentage depletion method.
In a system of activity-based costing, any factor such as the number of units, number of transactions, or duration of transactions that drives the costs arising from a particular activity. When such factors can be clearly identified and measured, they serve as the basis for allocating costs to cost objects.
Cost estimating involves determining the total costs of labor, materials, capital, and professional fees required for a proposed product. This process is crucial in project management, construction, manufacturing, and other sectors where budgeting and financial planning are essential.
Cost estimation is the process of predicting the cost of a project, product, or service by assessing the unit costs of direct costs and overheads for the purposes of planning, control, and pricing.
A Cost Function is a formula or equation that represents how specific costs behave when visualized on a graph. It typically depicts total cost as the sum of fixed costs and variable costs.
A cost item refers to a category of costs incurred by an organization that are similar in nature. These costs are collected together both for reporting purposes and because they can be subjected to similar treatment by the costing system. Examples include rent, consumable materials, and sundry selling expenses.
A comprehensive record-keeping system to maintain the transactions associated with a company's cost accounting. It facilitates detailed tracking of costs and aids in financial control and reporting.
The Cost Ledger Control Account, also known as the Cost Control Account, is an essential component of an accounting system where separate books are maintained for financial and cost records, ensuring the accuracy and integrity of the overall accounting system.
