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Posted on 9 November, 2017 at 14:19 Comments comments (0)
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Posted on 9 November, 2017 at 14:10 Comments comments (0)
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Term of the Day...minimum wage

Posted on 17 October, 2016 at 12:27 Comments comments (0)
Term of the Day...minimum wage
The smallest hourly wage that an employee may be paid as mandated by federal law. Inflation and other factors necessitate periodic adjustments to the actual number.

Many people work at companies that only pay the minimum wage, which is generally not a living wage for most families in the United States.Usage Example

Term of the Day...surety bond

Posted on 14 October, 2016 at 12:17 Comments comments (0)

Term of the Day...surety bond
  1. bond issued by an entity on behalf of a second party, guaranteeing that the second party will fulfill an obligation or series of obligations to a third party. In the event that the obligations are not met, the third party will recover its losses via the bond.
  2. A fee that is charged when a person loses a physical security issued to him/her and has to have a duplicate issued.

After recent financial losses, the father began looking into surety bond investments to secure his financial future due to less market fluctuation.Usage Example

Term of the Day...pure competition

Posted on 13 October, 2016 at 12:33 Comments comments (0)
Term of the Day...pure competition
market characterized by a large number of independent sellers of standardized products, free flow of information, and free entry and exit. Each seller is a "price taker" rather than a "price maker".

The pure competition of the free market resulted in a happy customer base that was thriving with the price competition.Usage Example

Term of the Day...royalty

Posted on 12 October, 2016 at 12:41 Comments comments (0)
Term of the Day...royalty
payment made for the use of property, especially a patent, copyrighted work, franchise, or natural resource. The amount is usually a percentage of revenues obtained through its use.

Everytime one of his songs is played or used in a movie, he receives aroyalty. Since it's such a famous song, money keeps flowing in.Usage Example

Term of the Day...charge off

Posted on 11 October, 2016 at 13:08 Comments comments (0)
Term of the Day...charge off
Accounts receivable that will likely remain uncollectable and will be written off. Charge offs appear as an expense on the company's income statement, thus reducing net income. In generalcompanies make an estimate of charge off expenses that might be incurred in the current time period based on past records as part of the process of estimating earnings.
Usage Example
Our accounts receivable department has utilized both written and oral communications to our customers resulting in an overall decrease in charge offs since the prior year.

Term of the Day...interest income

Posted on 10 October, 2016 at 12:22 Comments comments (0)

Term of the Day...interest income
The term that companies use on their income statement for reporting the interest earned on cash temporarily held in savings accountscertificates of deposits, or other investments. Because the interest wasn't part of the original investment, they record it separately, as interest income.

On the monthly deposit statement they noticed they earned 4 dollars in interest income. It was only one percent, but it was still extra money.Usage Example

Term of the Day...abatement

Posted on 7 October, 2016 at 12:26 Comments comments (0)
Term of the Day...abatement
reduction in or reprieve from a tax, debt or any other payment obligation. An abatement is sometimes included in a contract, for example abatement of rent in the event that a building is destroyed by fireflood or other accident.

The city of Warrensburg offered a property tax abatement to entice new homebuyers and to boost the resale value of existing homes.Usage Example

Term of the Day...buying on margin

Posted on 6 October, 2016 at 12:23 Comments comments (0)
Term of the Day...buying on margin
risky technique involving the purchase of securities with borrowed money, using the shares themselves as collateral. Usually done using a margin account at a brokerage, and subject to fairly strict SEC regulations.

You need to be very careful when you are buying on margin and make sure that you know what you are getting.Usage Example