BA---Core

forbearance

temporary relief in paying loans

tort

wrongful act that harms someone and could lead to civil lawsuit

wrongful interference

illegally disrupting someone's contract / business relationship

product trade-name franchise

franchise sells a manufacturer's product using its brand name

affinity fraud

scam that targets a trusted group by pretending to belong to it

deposit-taking institution's liability

money a bank owes to its depositors

interbonds

bonds among financial institutions

yankee bonds

dollar-denominated bonds issued in the US by a foreign company

eurobonds

bonds issued in a currency not native to the country of issue

convergence in finance

when banks, insurers, and investment firms start offering similar services

10-K

annual SEC filing showing company finances

10-Q

quarterly version of 10-K

bottom line

company's final net income

statement of retained earnings

shows how profits are reinvested / paid as dividends

differential cost

cost difference between two choices

imputed cost

estimated cost without direct payment, i.e. if you use an office space instead of renting it out to a business, the imputed cost = rent you could charge

variance analysis

comparing actual vs planned results

inflexible transaction

deal that can't easily be changed once agreed

managerial accountant

prepares internal reports for management decisions

insufficient corporate governance

weak oversight of management actions

business service orientation

focused on helping customers and providing good service to everyone

brand promise

company's agreement to consistently meet expectations

touchpoints

opportunities that a company has to connect with its customers

product-line extension

company adds new product to existing line

services

intangible touchpoints

market research

how companies figure out what consumers want

economic votes

term given to purchasing choices consumers make

price controls

artificial highs/lows companies give

consumer goods

items manufactured for personal use

bonding

insurance a business buys if an employee were to steal / lose something

thought stopping

part of thinking positively in maintaining a positive attitude

open or regular credit account

allows credit users to buy at any time during a set period, usually 30 days

revolving credit account

limits the total amount of money that may be owed and charges interest on outstanding balances

product/service management

deciding which products a business will produce / order

channel management

identifying, selecting, monitoring, and evaluating sales channels

promotion

communicating info about goods / services

continuous production

turns out products without stopping

intermittent production

shut down from time to time

batch production

produces specific quantities as needed

memo

tool used to inform internal audience and keep records

holding cost

cost to keep inventory in stock

marginal cost

change in total cost when producing one more thing

menu cost

expenses involved in changing prices

yielding response mode

giving the other person what they want

forcing

using physical / emotional responses to get one's way

personal vision

a goal or path that is permanent and enduring

coaches

individuals who should be approachable, patient, and dependable

online payment

saves paper but can be harder to manage because tasks aren't physical

graphics download time

an important consideration for web graphics

electronic article surveillance tags

best deterrent to shoplifting

source credibility

the factor that matters more than the purpose of the source

downward communication

management sending messages to lower-level employees

external communication

communicating with people outside the company

lateral communication

communication between employees or coworkers on the same level

invasive communication

fictitious or non-real communication

capital goods

the state of technology that exists in society

tactful

not being too harsh or negative when providing feedback

full-service broker

charges highest commissions because of in-house research

capital budgeting

determining which projects a business should invest in by estimating total value

retail buyers

individuals responsible for sales and stock personnel and educating staff on new techniques

business information management

ensuring business initiatives and computer/IT processes work smoothly

purchase order

the first document prepared when buying something

resume references

components that can be provided on request rather than listed

perpetual inventory

record of inventory information that is continuously updated

physical inventory

counting every item available for use

finance

obtaining funds to use them for business

business accounts

tools used to keep track of amounts owed to a business

licensing

issuing a government permit allowing a business to function

ordinary life insurance

type of life insurance that pays benefits on the death of the policyholder

liability insurance

protects homeowners if someone is injured on their property

marketing concept

philosophy that business activities should satisfy the customer

interest rates

costs that increase if money supply is low and demand is high

Robinson-Patman Act

bans price discrimination between business purchases of similar products

Clayton Act

prevents specific business practices that might restrict competition

Sherman Antitrust Act

prevents monopolies from price fixing

Celler-Kefauver Antimerger Act

stops competitors from takeovers if the acquisition stops competition

responsibility

the duty to treat others with respect and fix problems

truth-in-lending act

requires businesses to provide credit customers with regular account info

equal credit opportunity act

prohibits credit denial based on applicant demographics

fair credit billing act

requires businesses to respond to customer complaints within 30 days

fair and accurate credit transactions act

gives customers the right to inspect and correct credit files

equity

assets a company already owns used to finance a new venture

accounts receivable

money owed to a business by others

exit interview

process used to gain constructive suggestions from departing employees

customer relationship management

software that streamlines processes and stores customer info

automated clearinghouse

software used for financial transfer purposes

database sharing

use of groupware to work together on information

logistics

operations activity related to how to transport goods

organizational health policies

internal rules and guidelines regarding employee wellness

centralized purchasing structure

organizing purchasing authority within a few individuals

frictional unemployment

temporary unemployment from people voluntarily leaving jobs

structural unemployment

unemployment where demand for jobs is higher than the quantity available

social awareness

ability to know and understand the emotions of others

relationship management

taking action to manage the emotions of others

quality circle

problem-solving group of coworkers who recommend solutions

property taxes

funds for local fire departments and law enforcement

ownership investment

an individual purchasing a portion of an item

lending investment

lending money to a person or entity to gain fees/interest

retained earnings

income left after paying dividends, listed on the balance sheet

budget

accounting tool to check benchmarks for performance