Channel stuffing is a practice where a company inflates sales figures by sending more products through distribution channels than retailers can sell, potentially deceiving financial markets if done intentionally.
CHAPS (Clearing House Automated Payment System) is a real-time gross settlement payment system operating in the UK, allowing for the quick and secure transfer of high-value or time-critical payments directly between bank accounts.
Chapter 11 Bankruptcy, under the Bankruptcy Reform Act of 1978, allows for the reorganization of partnerships, corporations, municipalities, and sole proprietors facing financial difficulties to remain operational while they restructure their debts.
Chapter 11, often referred to as reorganization, allows a debtor, typically a corporation or partnership, to remain in business while restructuring its debts under a court-approved plan.
Chapter 13 of the Bankruptcy Reform Act of 1978 refers to debt restructuring, allowing individuals to repay creditors over time, typically through a repayment plan.
Chapter 13 of the 1978 Bankruptcy Act, also known as a wage earner's bankruptcy plan, allows individuals with a regular income to create a court-monitored repayment plan to pay back debts over a 3- to 5-year period while keeping their property.
Chapter 7 of the Bankruptcy Reform Act of 1978 refers to liquidation proceedings in the USA, designed to provide honest debtors an opportunity to start afresh by discharging certain debts.
Chapter 7 of the 1978 Bankruptcy Act focuses on liquidation, which involves the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors.
Charge and discharge accounting is a historical method used during the Middle Ages, especially within the manorial system. This method involves individuals keeping a record of sums or estates they receive and balancing it with sums paid out, effectively accounting for both inflows and outflows.
A charge buyer is an individual or entity that makes a purchase on credit, with the understanding that the amount owed will be billed and must be paid at a later date. This concept is closely related to credit buyers and credit orders.
A charge card allows the holder to purchase goods or services with the condition that the full balance is paid off at regular intervals. Unlike credit cards, charge cards usually do not have a spending limit and do not incur interest charges but come with an annual fee.
A charge is a legal interest in property or shares used to secure the payment of money owed, giving the chargee priority over unsecured creditors.
A charge-off is a debt that a creditor declares as unlikely to be collected after the debtor has become significantly delinquent. This status often affects the debtor's credit score negatively.
The chargeable account period, often refered to as the accounting period, is the specific time duration under consideration for which financial transactions are recorded and financial statements are prepared.
Chargeable assets encompass all forms of property subject to tax on capital gains, excluding specifically exempt items such as private motor cars, National Savings Certificates, and others.
A chargeable event refers to any transaction or occurrence that results in a liability for income tax, capital gains tax, or corporation tax.
In the UK, a chargeable gain refers to that part of a capital gain arising from the disposal of an asset that is subject to taxation. Understanding chargeable gains is crucial for both individuals and businesses to manage tax liabilities effectively.
In the context of capital gains tax, a chargeable person is any individual or entity that is resident, or ordinarily resident, in the UK during the year in which a chargeable gain was made due to the disposal of an asset.
A chargeable transfer is a lifetime gift not covered by any of the exemptions, making it liable to inheritance tax. This can include potentially exempt transfers or payments into a discretionary trust.
An instruction indicating that all freight charges on a shipment of goods will be paid by the consignee upon receipt.
A Charges Register or Register of Charges is a formal record of all charges (encumbrances or liens) that a company has granted over its assets, often required by law to be maintained. It includes details of secured loans and other financial obligations which creditors have claims to.
An itemized deduction allowed for donations made to qualifying charities. Several limitations apply to this deduction, especially for noncash property donations.
Charitable contributions are donations made to qualified organizations that can be claimed as a deduction on your tax return. These contributions can provide both societal benefits and potential tax savings for individuals and businesses.
A Charitable Incorporated Organization (CIO) is a legal form available to charitable organizations in England and Wales (and in Scotland since 2011) that provides similar rights and benefits as limited companies, but without the need to register as a company or follow Companies Act regulations.
A Charitable Remainder Trust is an irrevocable trust that pays income to one or more individuals until the grantor's death or for a specified number of years, after which the remaining assets pass to a designated charity.
A charitable trust is a type of trust that is established to provide financial support to one or more charitable organizations, aimed at fulfilling philanthropic goals and benefiting the public.
Charity accounts are the financial records of a charitable organization, highlighting both receipts like donations and expenditures like grants. They must comply with specific regulations depending on legal structure and size, including directives set by the Charities Act 2011 and Statements of Recommended Practice (SORPs) issued by the Charity Commission.
The Charity Commission is the government department responsible for overseeing charities, providing advice, and investigating their operations. Accountable to the Home Secretary and governed by the Charities Act 2011, it issues Statements of Recommended Practice (SORPs) for charity accounting.
The Chart of Accounts (CoA) is a detailed listing of all the individual accounts used by an organization’s accounting system, providing a structured framework for categorizing transactions and financial data.
A charter is a formal document granted by a governing body that establishes a corporate entity, often detailing its rights and privileges. It can also refer to hiring a vehicle for exclusive use.
In the UK, a Chartered Accountant (CA) is a qualified member of the Institute of Chartered Accountants in England and Wales (ICAEW), the Institute of Chartered Accountants of Scotland (ICAS), or the Institute of Chartered Accountants in Ireland (ICAI). Chartered Accountants provide a range of services including auditing, taxation, financial advice, and management roles in various industries.
Chartered Accountants Ireland (CAI) is the largest and oldest professional accounting body in Ireland, focusing on the advancement of accounting knowledge, standards, and professional ethics.
See Association of Chartered Certified Accountants
A Chartered Certified Accountant (CCA) is a highly qualified financial professional, recognized by the Association of Chartered Certified Accountants (ACCA), equipped to audit company accounts, with a robust training background in various sectors.
A Chartered Company is a type of company that is incorporated through a Royal Charter, distinguishing it from companies incorporated under general company law or private acts of parliament.
The Chartered Financial Analyst (CFA) designation is a professional credential offered by the CFA Institute. Widely regarded as the gold standard in the field of investment management, the CFA program covers a broad range of topics including equity analysis, fixed-income analysis, portfolio management, and ethical and professional standards.
The Chartered Financial Analyst (CFA) designation is a globally recognized credential granted by the CFA Institute to investment and finance professionals who have demonstrated competence and integrity in their field.
Chartered Financial Consultant (ChFC) is a professional designation awarded by The American College in Bryn Mawr, Pennsylvania, recognizing individuals for their expertise and proficiency in financial planning.
The Chartered Global Management Accountant (CGMA) designation is a globally recognized accounting credential that signifies expertise in management accounting and finance. It is awarded by both the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA).
The Chartered Global Management Accountant (CGMA) is a distinguished professional designation for management accountants aimed at recognizing advanced skills and competencies in management accounting. It is available to members of the Chartered Institute of Management Accountants (CIMA) and the American Institute of Certified Public Accountants (AICPA) who meet specific experience requirements and pass a notable exam. The CGMA credential is governed by a joint venture between CIMA and AICPA.
The Chartered Institute of Internal Auditors (CIIA) is a professional body dedicated to the development, promotion, and regulation of internal auditors around the world.
The Chartered Institute of Management Accountants (CIMA) is a professional association founded in 1919, primarily serving professionals working in industry and commerce. CIMA is renowned for its focus on management accounting.
The Chartered Institute of Public Finance and Accountancy (CIPFA) is a professional association founded in 1885, primarily serving public-sector accounting professionals. CIPFA provides training, qualifications, and a community for those involved in public finance and accountancy.
A professional organization based in the UK, dedicated to those working in procurement, supply-chain management, and related areas. It offers training, qualifications, and various professional support services.
The Chartered Institute of Purchasing and Supply (CIPS) is a global professional body dedicated to promoting excellence in procurement and supply management.
The Chartered Institute of Taxation (CIOT) is a premier professional institute dedicated to the education and certification of experts in the taxation field. Members are designated as Certified Tax Advisors (CTA) or as Associate or Fellow of the Taxation Institute Inc. (ATII or FTII).
The Chartered Institute of Taxation (CIOT) is a professional body in the UK that grants chartered status to candidates meeting specific standards in tax competency and practice.
Professional designation conferred by The American College, signifying expertise in insurance planning, investments, taxation, and related areas.
The Chartered Property and Casualty Underwriter (CPCU) is a professional designation that signifies expertise in various areas including insurance, risk management, economics, finance, management, accounting, and law. To earn this prestigious designation, candidates must complete 10 national examinations and have at least three years of work experience in the insurance industry or a related field.
A Chartist is an investment analyst who uses charts of prices and volumes to forecast the movements in financial markets. This analysis relies on the assumption that historical price movements will repeat themselves in predictable patterns.
A form of interactive online communication that permits typed conversations to occur in real time. Messages are instantaneously relayed from one participant in a chat discussion to all other members in the chat room.
An electronic forum where users can communicate with each other in real time. Chat rooms are found on the Internet.
Chattel refers to tangible, movable personal property, as opposed to real property, which is immovable. Examples of chattel include goods, vehicles, and furniture.
An exemption from capital gains tax that applies to gains from the disposal of chattels, which are items of movable personal property, provided their value is less than £6,000. It does not apply to wasting assets.
A chattel mortgage is a loan agreement where personal property is used as collateral to secure the payment of a debt or fulfillment of an obligation.
Chattel paper is a legal document that shows both a debt and a security interest in or a lease of specific goods. It is essential in transactions involving personal property.
A check is a written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.
A check box is a small square in a dialog box that can be clicked with the mouse to turn an option on (checked) or off (unchecked). Check boxes are used for options that are not mutually exclusive.
A check digit is a form of redundancy check used for error detection, designed to help ensure the accuracy of a number by appending a digit that can be recomputed and then compared to verify the correctness of the original number.
Check kiting is an illegal scheme that occurs when individuals establish a false line of credit by exploiting the delay in the check clearing process between different banks.
A check protector is a machine that prints checks in a manner that makes it difficult to alter. It elevates the written amount to create many small bumps on otherwise smooth paper, thereby enhancing check security and reducing the risk of fraud.
A check register is a log, book, or journal where each check issued is posted sequentially.
A check signer is a machine that mechanically signs checks, typically creating a facsimile signature. This automated process ensures efficiency in handling large volumes of check transactions.
A check stub is a portion of a check that is retained for record-keeping purposes and includes details related to the payment.
Check truncation refers to the process of converting a physical check into a digital image for electronic processing and clearing. This method enhances the speed and efficiency of check handling, reduces costs, and mitigates the risks associated with physical check transportation.
Bank deposit accounts that offer the privilege of writing checks against the balance of funds in the account. These accounts are the primary type of demand deposits that are part of the M1 money supply.
A cheque is a preprinted form on which instructions are given to an account provider such as a bank or building society to pay a stated sum to a named recipient. It's a common method for paying debts of various kinds.
A cheque account is a bank or building society account on which cheques can be drawn. In the United States, this type of account is known as a checking account. It is designed to provide easy access to funds for everyday transactions.
A plastic card issued by a retail bank to its customers to guarantee cheques drawn on the customer's current account up to a specified limit. Cheque cards have largely been replaced by multifunctional cards which also function as cash and debit cards.
Cheque truncation is the process of converting a paper cheque into a digital image for electronic transmission to the drawee bank rather than physically presenting it. This often includes creating a substitute cheque or image replacement document that serves as a legal equivalent.
A cheque-in facility refers to a machine that can print the amount of a cheque in machine-readable form. These types of machines are primarily used by banks to streamline the cheque processing operations although there is an increasing push for companies to also adopt these machines to reduce banking fees.
An accounting practice or business policy designed to highlight the most profitable aspects of financial transactions or customer relationships while minimizing or excluding less profitable or loss-making elements.
A statistical method to test whether two (or more) categorical variables are independent or if they share a common proportion of observations. Frequently used in hypothesis testing and categorical data analysis.
The world's oldest futures and options exchange, the Chicago Board of Trade (CBOT) was formed in 1848 as a centralized marketplace for the grain trade. Over the years, its product line has expanded to include numerous contracts on agricultural commodities and financial instruments.
The Chicago Board Options Exchange (CBOE) is the largest U.S. options exchange and a pioneer in options trading, providing a platform for trading standardized options contracts based on various securities and financial products.
The Chicago Mercantile Exchange (CME) is one of the largest and most diverse financial exchanges in the world, allowing for the trading of futures and options across a wide array of asset classes, including agriculture, energy, metals, and financial instruments.
The CME Group represents the largest futures and options market in the U.S., facilitating trade in both financial and commodity contracts with a rich history dating back to 1919.
The Chicago School of Economics is a school of thought that emphasizes the benefits and efficiency of free markets over centrally planned economies.
A Chief Executive Officer (CEO) is the highest-ranking executive in a company or organization, responsible for making major corporate decisions, managing overall operations and resources, and acting as the main point of communication between the board of directors and corporate operations.
The Chief Executive Officer (CEO) is the highest-ranking executive in an organization and has ultimate responsibility for the management of the company. They report directly to the Board of Directors and are accountable to the company's owners.
The Chief Financial Officer (CFO) is a senior executive responsible for managing the financial actions, planning, and reporting of an organization. This role includes overseeing financial planning, financial risk management, record-keeping, and financial reporting.
A Chief Financial Officer (CFO) is a corporate officer responsible for managing the financial actions of a company, including financial planning, management of financial risks, record-keeping, and financial reporting.
A Chief Operating Officer (COO) is an executive role responsible for overseeing the day-to-day operational functions of an organization. This role is crucial for ensuring efficient operations and achieving strategic goals.
A Chief Operating Officer (COO) is a senior executive tasked with overseeing the day-to-day administrative and operational functions of a company. The COO directly reports to the Chief Executive Officer (CEO) and is often considered the second in command within the organization.
A nonrefundable tax credit allowed for a percentage of the expenses incurred for household services or care of a child or other dependent, where a taxpayer maintains a household that includes one or more dependents who are under 13 years of age or mentally or physically incapacitated. The percentage of credit varies inversely with the taxpayer's adjusted gross income (AGI) between $15,000 and $43,000.
Child support is a payment specifically designated for the purpose of child support under a divorce or separation agreement. Such payments are neither deductible by the payer nor taxable to the payee.
A Child Trust Fund (CTF), also known as a 'baby bond,' was a UK government-backed savings scheme introduced to provide a financial start for children born on or after 1 September 2002. The funds are designed to mature when the child turns 18.
A notional information barrier established within an organization to prevent the exchange of sensitive or proprietary information between departments, especially to avoid conflicts of interest and ensure compliance with regulations.
A chip, also commonly referred to as an integrated circuit (IC), is a set of electronic circuits on one small flat piece of semiconductor material, typically silicon. These chips form the core of modern electronic devices and systems, from simple gadgets to complex computing systems.
The Clearing House Interbank Payments System (CHIPS) is a U.S. private-sector, real-time interbank payments system for the transfer of large value transactions.
A legal term referring to a personal right to possess property or claim debts, which can only be realized by taking legal action.
Churning refers to the practice of excessive trading in a stock investment account primarily to generate excessive brokerage commissions, regardless of the client’s investment objectives.
Unmitigated gall or brazen behavior, which, in some contexts, is regarded as a positive quality of heroic audacity or guts.
The Canadian Institute of Chartered Accountants (CICA) is a professional body representing chartered accountants in Canada, providing guidance, setting regulatory standards, and promoting the integrity and competence of the profession.
A CIF contract of sale includes the cost of the goods, insurance, and freight to the destination in the contract price. The seller’s obligation is fulfilled once the merchandise is delivered to the shipper, and relevant documents including the bill of lading, invoice, insurance policy, and payment receipt for freight are forwarded to the buyer.
The Chartered Institute of Management Accountants (CIMA) is a leading professional body in the field of management accountancy. It provides support, education, and certification for accounting professionals globally, emphasizing the integration of accounting skills with strategic business management.
CIO stands for Charitable Incorporated Organization. It is a type of incorporated organization designed for non-profit and charitable enterprises in the United Kingdom, allowing them to take legal actions and own property while providing liability protection for trustees and members.
CIPFA is the professional body for people in public finance, offering qualifications, training, and a range of support for those involved in public sector accounting and financial management.
A cipher is a method of transforming text to keep its content secret. It is crucial for protecting information in business, especially when sensitive or confidential data is involved.
A circuit is a geographical area within which a court has jurisdiction to hear and decide cases. Circuit courts often travel between locations within the territory to administer justice.
