An assay is an analytical test used primarily to determine the purity or composition of a metal sample, such as assessing whether gold is 99.5% pure.
The process of combining two or more adjoining parcels of land into one larger tract, often increasing its total value.
Assembly language is a low-level programming language that is one step above machine language. Each statement in an assembly language corresponds to a machine language statement, enabling hardware-level control with more readability compared to pure binary code.
An assembly line is a production method requiring workers to perform a repetitive task on a product as it moves along on a conveyor belt or track. It brings significant advantages such as part standardization and rationalization of work.
A facility where a production line is located and where products are assembled using systematic stages of production. This plant is fundamental in manufacturing industries, especially for large-scale production.
Assented stock refers to a security, typically an ordinary share, where the owner has agreed to the terms of a takeover bid. Different prices may be offered for assented and non-assented stock during takeover negotiations.
To evaluate or appraise the value of an asset or property for various purposes, such as taxation, sale, or insurance.
Assessable capital stocks refer to shares where stockholders may become subject to additional liabilities beyond their initial investment, typical in specific sectors such as banking or scenarios involving unpaid capital calls.
Assessed valuation refers to the dollar value assigned to a property by a municipality for the purpose of assessing property taxes. The property tax is calculated based on the number of mills per dollar of assessed valuation.
An assessment is the amount of tax or special payment due to a municipality or association, or a proportionate share of a common expense.
An assessment of deficiency refers to the determination of additional tax owed by a taxpayer following an appellate review within the Internal Revenue Service (IRS) and a tax court adjudication, if necessary.
The Assessment Ratio is the ratio of the assessed value of a property to its market value, often used to determine property taxes. It is a vital aspect in the evaluation of real estate for taxation purposes.
A public record of the assessed value of property within a taxing jurisdiction, known as an assessment roll, lists individual tracts of land and their assessed values.
An official who determines property values, generally for real estate taxes.
In accounting terms, an asset refers to any resource owned or controlled by an entity that is expected to provide future economic benefits. Assets can be either tangible or intangible.
Asset allocation is a strategic approach involving the distribution of investments among various asset classes to optimize returns while minimizing risk. Asset proportions can be adjusted based on market conditions.
An asset bubble refers to the inflationary valuation of asset prices resulting from excess demand, often leading to a sudden market collapse.
Asset classification refers to the systematic categorization of assets on a balance sheet, distinguishing between fixed and current assets as mandated by the Companies Act and Financial Reporting Standard (FRS 102) in the UK and Republic of Ireland.
A ratio that provides a measure of the solvency of a company; it consists of its net assets divided by its debt. Those companies with high asset cover are considered more solvent.
Asset deficiency is a financial condition where a company's liabilities exceed its assets, raising concerns about the organization's financial viability.
Asset demand for money refers to the desire to hold money as a store of value rather than other forms of investment. This occurs when individuals or businesses forgo potential interest earned from assets in favor of liquidity and stability that money offers.
Asset Management involves the systematic process of developing, operating, maintaining, and selling assets in a cost-effective manner. This term is typically used in the financial world to describe the management of investments, aiming to grow their value over time and achieve higher returns.
A UK government initiative launched in February 2009 to revive bank lending in the wake of the global financial crisis by insuring banks against further losses from toxic assets.
An Asset Protection Scheme (APS) is a program designed to safeguard assets, particularly in the banking sector, by providing guarantees against a portion of an institution’s non-performing or risky assets.
An adjustment to the book value of an asset to reflect its current market value; seldom allowed under Generally Accepted Accounting Principles (GAAP).
The Asset Revaluation Reserve, often referred to as the Revaluation Reserve Account, represents the adjustments made to the value of a company's assets that are reflected on its balance sheet. This reserve is critical for accurately depicting the fair value of an entity's assets over time.
Asset stripping involves acquiring a company whose share price is undervalued relative to its asset value, selling its assets for profit, typically at the expense of other stakeholders.
Asset Turnover is a financial ratio that measures the efficiency of a company's use of its assets in generating sales revenue. It is an important metric to assess how well a company is utilizing its assets to produce revenue.
Asset valuation involves determining the current worth of an organization's assets, considering various valuation methods including revaluation and present value calculations.
The total value of a company's assets less its liabilities, divided by the number of ordinary shares in issue. This represents the theoretical amount attributable to each share if the company was wound up.
Asset-Backed Commercial Paper (ABCP) refers to short-term debt instruments issued by financial institutions, which are backed by physical assets such as receivables, leases, or loans.
Asset-backed commercial paper (ABCP) is a short-term debt instrument issued by a special purpose vehicle (SPV) that is backed by various assets like trade receivables, auto loans, or other commercial assets.
An Asset-Backed Fund involves investing in tangible or corporate assets, such as property or shares, providing potential growth aligned with inflation, in contrast to traditional bank savings.
An Asset-Backed Medium-Term Note (ABMTN) is a type of debt security that is secured by a pool of assets and typically has a maturity period ranging from one to ten years.
An Asset-Backed Medium-Term Note (ABMTN) is a financial instrument combining the attributes of medium-term notes and asset-backed securities, typically used to raise capital through securitization.
Asset-Backed Securities (ABS) are financial instruments backed by loan paper or accounts receivable originated by banks, credit card companies, or other providers of credit, often enhanced by a bank letter of credit or by insurance coverage from a third party.
An asset-backed security (ABS) is a financial instrument that represents a claim on the cash flows generated by a pool of underlying assets, such as mortgages, car loans, or credit-card receivables.
An assets register, commonly referred to as a fixed-assets register, is a detailed ledger used by organizations to track and manage their fixed assets, including the acquisition, depreciation, and disposal of these assets.
Assigning is the act of transferring ownership or rights from one party to another. This process involves an assignor who executes the transfer and an assignee who receives it.
In automobile insurance, 'assigned risk' refers to a classification of drivers to whom insurance companies will not issue policies voluntarily due to their high-risk profile, commonly resulting from a history of accidents or violations. These individuals are assigned to insurance companies by state law and are required to pay higher premiums.
An assignee is a person, company, or entity to whom an agreement, contract, or right is sold, given, or transferred. This legal transfer allows the assignee to step into the shoes of the assignor and assume their rights and obligations under the original contract.
The act of transferring property, rights under a contract, or benefits under a trust to another person, or a document (a deed of assignment) facilitating such a transfer. This term also encompasses the transfer of bank loans between financial institutions to mitigate credit risk.
The 'Assignment of Income' doctrine is a tax principle that prevents taxpayers from avoiding tax by directing income they have earned to another person.
The transfer of a lease by the tenant (assignor) to another person (assignee). Leases are generally transferable at common law, although restrictions may apply.
A transfer of the legal right under a life-assurance policy to collect the proceeds, initiated by notifying and receiving agreement from the life insurer.
An assignor is the party who assigns or transfers an agreement or contract to another entity or individual. In a legal context, this transfer of rights or interests enables the assignee to assume the assignor's privileges and obligations under the contract.
Assimilation in finance refers to the absorption of a new issue of stock by the investing public after all shares have been sold by the issue's underwriters.
An associated undertaking, or associate, is a company that is not classified as a subsidiary but in which another company or group exercises significant influence. Accounting for associates is regulated by Section 14 of the Financial Reporting Standard Applicable in the UK and Republic of Ireland and International Accounting Standard 28 (IAS 28), Investments in Associates.
ACIS stands for Associate of the Institute of Chartered Secretaries and Administrators, a professional designation for corporate governance, compliance, and company secretarial professionals.
AIAB stands for Associate of the International Association of Book-keepers, a professional designation representing advanced knowledge and expertise in bookkeeping and accounting practices.
An association is a body of persons united without a charter, but upon the methods and forms used by incorporated bodies, for the prosecution of some common enterprise. Some entities may be associations taxable as a corporation.
APACS, established by UK banks in 1985, managed payment clearing and money transmission in the UK through its Interest Groups focused on card payments, cash services, electronic commerce, and liquidity management. It was succeeded by the UK Payments Administration in 2009.
The Association of Accounting Technicians (AAT) is a professional membership body dedicated to the education, development, regulation, and support of accounting technicians worldwide.
The Association of Accounting Technicians (AAT) is a professional body established in 1980 by the Consultative Committee of Accountancy Bodies (CCAB) to provide a second-tier accounting qualification. This qualification can enable individuals to eventually obtain a full CCAB qualification.
The Association of Authorized Public Accountants (AAPA) is a UK professional body for qualified accountants who have been authorized to conduct company audits. In 1996, it became a subsidiary of the Association of Chartered Certified Accountants (ACCA).
The Association of Certified Fraud Examiners (ACFE) is a global professional organization with over 35,000 members dedicated to combating fraud and providing anti-fraud education and training in the business sector. The ACFE awards the Certified Fraud Examiner (CFE) designation, which is recognized worldwide.
The Association of Chartered Certified Accountants (ACCA) is a global professional accounting body offering the Chartered Certified Accountant qualification.
The Association of Chartered Certified Accountants (ACCA) is one of the largest and most prestigious professional accountancy bodies in the world, with over 140,000 members in 170 countries, known for its rigorous certification process and global standards.
The Association of Corporate Treasurers (ACT) is an organization established to encourage and promote the study and practice of treasury management in companies. Despite being relatively small compared to professional accounting bodies, it has made a significant impact in corporate treasury management.
The Association of Independent Financial Advisers (AIFA) is the trade body for independent financial advisers in the UK, established in 1994. It represents the views of the profession to the Financial Services Authority, parliament, and other policymakers and promotes the benefits of financial advice to the public.
The Association of International Accountants (AIA) is a professional body for accountants committed to promoting the idea of 'international accounting.' Established in the UK in 1928, AIA now boasts members in over 85 countries. Full members can be associates (AAIA) or fellows (FAIA) and are known as international accountants, being part of a Recognized Qualifying Body.
A mortgage loan that permits a new home purchaser to undertake the obligation of an existing loan without altering loan terms. Typically applicable to FHA and VA loans.
The assumption fee is a charge levied by a lender to a buyer who assumes the existing loan on the subject property. It compensates the lender for administrative costs associated with transferring the loan.
Assumption of mortgage involves assuming the obligations of a mortgagor toward a mortgagee, usually as part of the purchase price of real estate. This entails the purchaser taking personal liability for the debt unless a novation releases the original borrower.
A technique of risk management where an individual or business assumes expected losses that are not catastrophic, protecting against catastrophic losses through insurance.
Insurance against an eventuality, especially targeting events that must occur such as death. Commonly related to life assurance, it provides a guaranteed payout upon the occurrence of the insured event.
In the context of life assurance policies, the 'assured' is the individual who stands to receive the benefit of the policy upon the death of the insured or when the policy matures, ensuring a secure financial future.
The asterisk (*) character is used for several purposes, including as a reference mark for footnotes, representing multiplication in mathematical expressions, and as a wildcard in filename and data searches.
Processes that are not synchronized, allowing for actions to happen independently at different times. Frequently used in computing and networking to refer to data transmission where operations occur independently.
The term 'at par' refers to a financial instrument, such as a bond, that is trading at its face value. In other words, the market price of the bond is equal to its nominal or par value.
In the context of investments, 'at risk' refers to being exposed to the danger of a financial loss. Specifically, for investors in a limited partnership, they can claim tax deductions only if they can demonstrate a possibility of losing their invested capital.
The term 'at sight' is commonly used on a bill of exchange to indicate that payment is due upon presentation. It is an immediate payment term contrary to 'after date' or 'after sight' terms.
The '@' symbol, historically used in pricing, has gained contemporary significance mainly through its use in email addresses, representing the word 'at' as a separator between username and domain.
An order to buy or sell a security within the final 30 seconds of the trading session. Brokers cannot guarantee that these orders will be executed.
Describing a call or put option in which the exercise price is the same (or very nearly the same) as the current market price of the underlying asset.
Customer's order to a broker to buy or sell a security at the price that applies when an exchange opens. If the order is not executed at that time, it is automatically canceled.
At-risk rules are tax laws designed to limit the amount of tax losses an investor can claim from certain industries, including oil and gas, movie production, farming, and real estate. These rules ensure that losses are deductible only to the extent of money the equity investor stands to lose.
ATT stands for Associate of the Association of Tax Technicians, a professional qualification for employees working in taxation. It is particularly aimed at individuals operating at a level below that of the Chartered Institute of Taxation members.
Attachment is a legal procedure that allows a creditor who has obtained a court judgment to secure payment from a debtor. This can include freezing money or property owed to the debtor by a third party and redirecting it to the creditor.
Attainable standard refers to a cost or income standard set at a level that is achievable by operators under realistic conditions during the relevant cost period.
The insured's age at a specific point in time, often used to determine premiums and eligibility in insurance policies.
The act of noticing an advertisement or commercial; a component of information or perceptual processing. Given that consumers typically focus on items relevant to their needs, attitudes, or beliefs, attention is inherently selective. There have been instances in advertising history where attention was captured by the advertisement itself rather than the product being promoted.
An attention line is commonly used on labels or envelopes to specify the name of the intended recipient of a shipment, ensuring that packages are directed to the correct individual within an organization.
In accounting and legal contexts, to 'attest' means to bear witness to an act or event, confirming its authenticity and validity. This act often involves a third-party certification, ensuring that particular documents and signatures are legitimate.
An attest function is performed by a qualified auditor who provides an audit opinion on the truth and fairness of the financial statements of an organization.
Mental position or emotional feelings about products, services, companies, ideas, issues, or institutions. Attitudes are shaped by demographics, social values, and personality.
An attorney-at-law is a professional authorized to practice law in a specific jurisdiction, engaging in both civil and criminal legal activities on behalf of clients.
An attorney-in-fact is an individual who is authorized to act on behalf of another person under a power of attorney, which can be general or limited in scope. This designation does not require the individual to be an attorney-at-law.
Attornment refers to a tenant's formal agreement to acknowledge a new owner or landlord of the property as their landlord.
An attractive nuisance is a legal concept in the context of property law. It refers to a hazard on a property that is inherently dangerous and particularly alluring to children, causing the property owner to assume liability for any accidents that occur as a result.
Attributable profit is the portion of the total estimated profit from a long-term contract, reflecting the fair share of work completed, minus estimated remedial, maintenance, and other non-recoverable costs at a specific accounting date.
In accounting and auditing, an attribute is a specific characteristic or feature that each member of a population either has or does not have.
Attribute sampling is a statistical procedure used to analyze qualitative characteristics of a population in terms of possession or non-possession of the attribute.
Attributes sampling is a statistical sampling method used to estimate the proportion of a population that possesses a specific attribute, commonly utilized by auditors in compliance tests to identify deviations from required control procedures.
Attrition is the normal and uncontrollable reduction of a workforce due to retirement, death, sickness, and relocation. It provides a natural way for organizations to reduce their workforce without taking overt management actions, though it can lead to unpredictability and gaps.
An auction, also known as an auction sale, is a method of marketing property without a set price wherein bids are taken and the property is sold to the highest bidder.
Centralized securities trading markets where securities are bought and sold in an orderly manner through security brokers. Securities, including equities, bonds, options, closed-end funds, and futures, are traded based on bid and offer prices.
Auction Market Preferred Stock (AMPS) refers to a type of preferred stock in which the dividend rate is reset at periodic intervals through a Dutch auction process, allowing for competitive bidding and market-based pricing.
Auction Market Preferred Stock (AMPS) is a type of U.S. preference share where the dividend is variable and set through an auction process among investors.
Auctioning is a market mechanism in which goods and services are sold to the highest bidder through a structured and competitive bidding process, often conducted online.
