Tenant fixtures refer to fixtures added to leased real estate by lessees, which, by contract or by law, may be removed by the lessee upon expiration of the lease.
Tenant improvements (TIs) refer to changes or alterations made to office, retail, or industrial properties to meet the specific requirements of a tenant. These improvements can include the installation or relocation of interior walls or partitions, flooring, shelves, windows, and other fixtures.
Tenant reimbursements are payments made by a tenant to a landlord for the tenant's share of property-related expenses. These are commonly encountered in net leases and leases with stop clauses, especially in shopping centers and office buildings.
A broker who represents tenants, ensuring they find the best property to lease and negotiating the most favorable transaction terms on their behalf.
An unconditional offer to pay or perform in full an obligation to another, together with actual presentation of the thing or sum owed, or some clear manifestation of ability to pay or perform.
A guarantee provided by a company ensuring that it will not withdraw from a contract after submitting a bid.
Tender of Delivery refers to the seller's placement of goods at the buyer's disposal in accordance with the terms of the contract. Failure to tender delivery or refusal to take delivery may constitute a breach of contract.
A tender offer is a public proposal made to shareholders of a particular corporation to purchase a specified number of shares at a predetermined price. The offer generally contains specific conditions, such as the requirement that the offeror must obtain the total number of shares specified in the tender to proceed.
A tender panel involves a group of banks that come together to competitively offer loan terms to a company, ensuring the borrower gets the best conditions for financing.
A tenement refers to any type of dwelling inhabited by a tenant, including both corporeal and incorporeal real property. In modern contexts, it commonly denotes multi-occupied buildings, often in poor conditions, such as dilapidated apartment dwellings.
Tenor refers to the duration of time that must elapse before a financial instrument such as a bill of exchange or promissory note becomes due for payment.
Tenure is a term that spans diverse fields such as property ownership, employment, and academia. It denotes ownership rights, job security contingent on length of employment, and academic privileges that safeguard freedom of speech and employment continuity.
The mode in which an individual holds an estate in land, impacting the legal rights and obligations associated with land use and ownership.
A multifaceted concept in finance and legal agreements, referring to either the period during which conditions of a contract will be carried out or the specific provisions within an agreement.
A funding facility under which the Federal Reserve Bank of New York lends up to $200 billion on a non-recourse basis to holders of certain AAA-rated asset-backed securities (ABS), aimed at promoting the flow of credit to businesses and households.
A type of bond for which the entire principal amount matures on a single date rather than in installments over multiple dates.
A term certificate, more commonly known as a Certificate of Deposit (CD), is a widely used savings option with a fixed maturity date, often chosen for its reliable interest rates and diverse term lengths.
Coverage that stays effective for a specified, limited period. If the insured dies within that period, the beneficiary receives the death payments. If the insured survives the term, the policy ends and no payment is made.
A term loan is a type of loan provided by a bank to a company with a set repayment schedule. The loan is usually drawn down immediately or shortly after the agreement is signed, based on the amortization schedule.
A device that allows a user to communicate directly with a computer. Terminals consist of a keyboard for input and a means of display for output, such as a monitor or printer.
An additional amount of money added to payments made on the maturity of an insurance policy or on the death of an insured person due to profitable or surplus investments by the insurer.
Relief for a loss made by a company, partnership, or sole trader during the last 12 months of trading. The business or profession must be permanently discontinued to qualify. The trading loss arising in the accounting period in which the trade ceases may be carried back and offset against the profits of the three years ending immediately before the commencement of the final period of trading.
Terminal value (TV) is the estimated value of an investment at the end of a specified period, calculated using a given rate of interest. It represents the future worth of an initial investment assuming a specific growth rate.
Terminal Value (TV) is an essential financial metric used to estimate the value of a business beyond the forecast period in a discounted cash flow (DCF) analysis.
Termination benefits refer to those additional perks an employee receives when their employment ends at the employer's behest, including voluntary redundancy scenarios treated as employer-initiated terminations.
Termination of a plan refers to the cessation of a pension plan, done either through a standard termination or a distress termination method. Each approach has specific legal and financial implications.
The detailed conditions and arrangements specified within a contract, particularly relating to sales, include various elements such as price, financing, contingencies, closing costs, and personal property items included in the sale.
Terms of Trade (TOT) is the economic concept that reflects the ratio between the prices at which a country sells its exports and the prices it pays for its imports. It indicates the relative efficiency of trade for a nation and can significantly impact its economic well-being.
A multidisciplinary field that integrates management, financial, and engineering skills for the optimal installation, operation, and maintenance of plant and equipment, focusing on life-cycle costing.
Non-conventional warfare strategy characterized by various types of violent acts, including bombings, kidnapping, murder, and torture, often targeting civilians to achieve political, ideological, or religious goals.
An examination or evaluation used to measure a particular achievement, performance, or understanding.
Test data refers to data used by auditors in computer processing to verify the correct operation of an organization's computer programs. It is primarily used for conducting compliance tests on application controls.
A geographic location selected for the introduction of a new product, new advertising campaign, or both. The use of a test market allows advertisers or manufacturers to evaluate the product performance on a small scale, and to assess the marketing plan for the product before a broader rollout.
Test marketing is a form of marketing that occurs during the product-testing step of the overall product development process, where selected areas are chosen for the actual introduction of the product. Sales and consumer reactions are monitored for an overall evaluation.
A measure calculated from data sampled from a population, used to either reject or fail to reject the null hypothesis.
A testament, also commonly referred to as a will or last will and testament, is a legal document that indicates how a person's personal property should be distributed after their death.
Testamentary Powers of Appointment refer to the legal authority granted to an individual through a will to designate who will receive certain property or interests upon their death.
A testamentary trust is a legal entity created as a result of a will and generally takes effect upon the death of the grantor, in contrast to an inter vivos trust which is established during the grantor's lifetime.
Testate is a legal term describing a situation wherein an individual has created a valid will before passing away. This will outlines how their assets and estate should be distributed.
A testator (or testatrix) is an individual who creates a will to dictate the distribution of their property and assets after their passing. Without a will, the property passes to the heirs according to state law or reverts to the state.
Testchecking is a procedure used in auditing to verify the accuracy of certain items in financial records, allowing the auditor to form an opinion about the entire account.
A testimonial is a statement of worth or value provided by a respected source. They are often utilized to certify and endorse the value of a particular product or service in its advertising. Testimonials play a significant role in adding credibility and building trust with potential customers.
A testimonium clause is a critical component in legal documents like deeds and conveyances that cites the act and date, marking the closure and authentication of the document.
Manufacturer of semiconductors and computers, founded in 1947 and headquartered in Dallas, Texas. Known for developing the first working integrated circuit in 1958.
Theoretical Capacity refers to the maximum output that could be achieved by an organization or machinery without interruptions or inefficiencies.
The Theory of Constraints (TOC) is a systematic approach that aims to identify and eliminate bottlenecks in a production system. It aims to increase profits while simultaneously reducing stock levels and operating expenses.
The Theory of Constraints (TOC) is a management philosophy that focuses on identifying and managing the most critical limiting factor (constraint) that stands in the way of achieving a goal and then systematically improving that constraint until it is no longer the limiting factor.
Management theory developed by Douglas McGregor, stating that managers must coerce, cajole, threaten, and closely supervise subordinates in order to motivate them. Theory X is an authoritarian supervisory approach to management.
Theory Y posits that, under the right conditions, the average employee finds work to be a source of satisfaction, will exercise self-direction towards goals they are committed to, seeks responsibility, and is inherently creative. This theory contrasts with Theory X's more negative view of employee motivation and behavior.
A management theory developed by William Ouchi, describing the Japanese system of management characterized by workers' deep involvement in management, higher productivity than the U.S. management model, and a highly developed system of organizational and sociological rewards.
Thin capitalization refers to an arrangement where a company is financed through a high level of debt compared to equity, typically involving intercompany loans within a multinational entity. This is often structured to gain tax advantages by exploiting interest payment deductions.
A thin corporation primarily uses loans from shareholders for its capital rather than equity investments to enjoy tax advantages. This can lead to tax challenges if debt-to-stock ratios surpass acceptable industry standards.
A thin market refers to a market for a security, commodity, currency, etc., where few transactions are occurring. Any substantial trade in such a market can have a direct and pronounced impact on prices, leading to heightened volatility.
Thinking outside the box refers to breaking away from traditional or conventional thought processes to develop unique and superior solutions to difficult problems.
Computer software utilized by accountants for preparing written reports, management letters, and specialized analyses of operations, aiming to enhance writing skills.
The third market involves non-exchange-member broker-dealers and institutional investors trading exchange-listed securities over the counter (OTC).
A third party refers to any individual or entity that is not directly involved in a given transaction or dispute. This term is commonly used in legal and business contexts to denote an outsider who has no direct interest in the matter.
The third sector encompasses non-governmental, not-for-profit organizations, differentiating it from both the profit-making private sector and the governmental public sector.
A third-generation computer is characterized by the use of integrated circuits, which marked an advancement from the transistor-based systems of the second generation and set the stage for the development of even more advanced computing systems.
A third-party check is a negotiable instrument involving three parties: the bank (primary party), the drawer (secondary party), and the payee (third party), who often endorses the check to another recipient.
A legal order made by a judge allowing a creditor to claim money directly from a third party holding funds for a debtor, such as a bank, until the court authorizes its release to the creditor.
A third-party sale involves an intermediary agency facilitating transactions between a buyer and a seller, optimizing the purchase process.
Established in 2008, Thomson Reuters is a global provider of essential information to businesses and professionals, born from the merger of the Reuters Group (dating back to 1851) and the Thomson Corporation (whose origins trace back to 1934).
A thread is a sequence of messages or postings related to a specific topic, often seen in forums, newsgroups, and email discussions. It typically displays an initial question or topic followed by responses from various users.
A three-column cash book is an extended form of the cashbook which includes columns for discounts allowed and received in addition to cash and bank transactions.
A derisive term for lavish lunches characterized by having three martinis and claimed as tax-deductible business expenses. The three-martini lunch became a symbol for business extravagance and resulted in 1993 tax act provisions making only 50% of the cost of business meals deductible for tax purposes.
Threshold-point ordering refers to the minimum inventory levels at which new orders must be placed to ensure continuous supply and meet expected demand based on anticipated usage. This technique aims to optimize inventory management.
Thrift institutions, also known as savings banks and savings and loan associations, are financial institutions that primarily focus on accepting deposits and originating home mortgages. They play a critical role in providing financial services to individuals and communities.
A retail store selling second-hand goods at reduced prices, often associated with churches and charitable service organizations such as the Salvation Army.
A term used to describe a person or purchase characterized by being frugal, economical, or sparing. A thrifty buy or product is one where the consumer gets good value for the price.
Through Rate refers to the total cost of shipping goods when two or more carriers are utilized. It is determined by either a joint rate agreement between the carriers or the sum of the rates charged by each individual carrier.
Throughput accounting is an approach to short-term decision-making in manufacturing that treats all conversion costs as fixed and ranks products based on a throughput accounting ratio (TAR), particularly useful when a constraint or scarce resource exists.
The Throughput Accounting Ratio (TAR) is a key metric in Throughput Accounting, used to assess the value that an investment or business decision will create relative to its costs.
An upward or downward price movement in a security's trades. Technical analysts watch the tick of a stock's successive up or down moves to get a feel of the stock's price trend.
Tick marks are symbols used by auditors to indicate that they have performed a certain operation during an audit, such as verifying a number on a trial balance against a source document or checking the addition of a column of numbers. A legend should appear on the work papers to indicate the meaning of each tick mark.
A ticker refers to the system that produces a continuous report of trading activity on stock exchanges, also known as ticker tape. This includes displaying stock symbols, the latest prices, and trading volumes on computer screens.
A ticker symbol is a unique series of letters assigned to a security or company for trading purposes on a stock exchange. Ticker symbols provide a simplified way to quickly identify and interact with company stocks.
A ticker tape traditionally referred to the paper output of a stock ticker machine, which showed stock symbols and prices but now generally refers to the digital displays providing real-time stock prices.
A tied adviser refers to a financial adviser who is connected to a single institution or a limited number of financial institutions, limiting the range of products and services they can offer.
A tight market refers to a marketplace characterized by active trading and narrow bid-offer price spreads. This is in contrast to a slack market, which features inactive trading and wide spreads.
An economic condition in which credit is difficult to secure, usually due to actions taken by the Federal Reserve Board to restrict the money supply.
Indication that organizational management procedures are followed very closely. When an organization is run like a tight ship, few allowances are permitted for unorthodox procedures.
A till is a cash register, drawer, or any location where money is kept or stored for business purposes.
Time and billing software is a computer program that tracks hours spent by staff accountants and chargeable expenses for a given client.
A time card (or clock card) is a tool used to record the amount of time an employee spends at work or on a particular job. It typically logs the start and end times, providing a mechanism to calculate the total elapsed time.
A Time Deposit is a savings account or a Certificate of Deposit (CD) held in a financial institution for a fixed term or with the understanding that the depositor can withdraw only by giving notice. It offers a specified term and usually carries penalties for early withdrawal.
A phrase in a contract signaling that all time-based obligations must be performed punctually and within the specified dates and times.
Time management refers to the process of planning and controlling how much time to spend on specific activities to achieve maximum productivity, efficiency, and effectiveness.
In accounting, the time of supply refers to the date when goods are removed or made available to a customer, or when services are completed for a customer, marking the point at which tax is chargeable.
The use of historical data and mathematical techniques to model the historical path of a price, demand for a good, or consumption. Time series analysis is based on the premise that by knowing the past, the future can be forecast.
A time sheet is a tool used to record the amount of time an employee or machine spends on different tasks or activities over a specified period. These recorded hours are integral for job costing, operational assessments, and activity tracking, aiding in accurate financial and productivity analyses.
Understanding how making a product available at a convenient time enhances its marketability.
Time value refers to the premium placed on the time an investor has to wait until an investment matures, using calculations such as the Present Value (PV). It applies to general investments as well as specific instruments like stock options.
The time value of money (TVM) concept, key to discounted cash flow calculations, posits that cash received earlier is worth more than the same amount received later due to the potential earning capacity of money. Conversely, future payments are valued less than payments made in the present.
Time-and-a-half refers to the payment of one and a half times the worker's regular hourly wage for work performed beyond 40 hours per week. This payment policy is mandated by the Fair Labor Standards Act (FLSA).
A time-and-motion study involves measuring the time and movements required to complete specific job tasks. First advocated by Frederick W. Taylor in his book Scientific Management, such studies aim to create a management standard for evaluating individual employee productivity.
Time-Sharing is a method employed in both computing and real estate contexts to optimize resource utilization by allowing multiple users or owners to access the same resource within designated intervals. In computing, it refers to the execution of multiple programs simultaneously, while in real estate, it pertains to multiple owners sharing possession of a property during specified time intervals.
A timekeeper is responsible for recording and monitoring the working hours of employees, ensuring accurate time records for payroll and compliance.
The principle that a company should provide financial information to its users without undue delay, ensuring the data arrives in time to influence economic decisions. Timeliness is critical in maintaining the information's relevance and impact.
Times Fixed Charge is a measure of a company's ability to meet its fixed financial obligations, commonly evaluated through the Fixed-Charge Coverage Ratio.
