Overhead Expenditure Variance in Accounting represents the difference between the budgeted overhead allowance and the actual overhead incurred. This variance helps adjust the budgeted profits for over- or under-spending.
In a system of standard costing, the overhead total variance is the difference between the standard overhead recovered for actual units produced and the actual overhead incurred for a period.
Overhead Volume Variance is a budgetary metric used in cost accounting to measure the difference between the budgeted and actual fixed overhead allocated based on the actual volume of production.
Overheating refers to an economic condition where rapid expansion leads to excessive inflation. It arises when demand outstrips supply, often causing price levels to increase.
An overimprovement occurs when a property improvement is valued significantly higher than the land it sits on, affecting its market value and efficiency. This commonly entails disproportionately expensive enhancements relative to the land’s inherent or potential value.
Overissue refers to the issuance of shares of capital stock in excess of the number authorized by a corporation’s charter. Preventing overissue is the function of a corporation's registrar, usually a bank acting as an agent, which works closely with the transfer agent.
In marketing and advertising, overkill refers to an expensive promotional effort that produces diminishing returns because it repels rather than attracts consumer interest.
The interest rate at which major banks lend to one another on the overnight market, typically utilized for short-term funding. Indexes of the average overnight rate, such as SONIA and EONIA, provide key reference rates in financial markets.
Overpayment occurs when a buyer sends a payment that exceeds the amount due. If not for a continuous service that can be extended, it must be refunded or credited to the buyer's account for future use.
Overproduction refers to the excessive production of goods beyond consumer demand, resulting in surplus inventory and potential financial losses for businesses.
The term 'override' carries distinct meanings across various fields, such as business, petroleum industry, contractual agreements, and government legislation. Understanding these variations can help in accurately interpreting the term based on the context.
The concept of overrun in production refers to exceeding predefined production limits, often due to estimation errors, reduction in order size, or attempts to utilize excess materials.
Income that has been subject to taxation outside the jurisdiction of one's resident country's tax authorities. When the same income is subject to taxation in more than one country, relief for the double tax is given either under the provisions of the double taxation agreement with the country concerned or unilaterally.
Continuing a sales presentation after the customer has agreed to buy, risking the potential to lose the sale.
Overshoot refers to the phenomenon where a specified target or goal, such as an economic target, earnings projection, budget, or any predefined metric, is surpassed, often leading to unanticipated consequences.
A description of a stock or market that has experienced an unexpectedly sharp price decline and is therefore due, according to some proponents of technical analysis, for an imminent price rise.
Overtime refers to the time worked by employees beyond their agreed normal working hours. For hourly or nonexempt employees, overtime is typically compensated at a higher rate, often one and one-half times their regular pay, for hours worked over 40 in a standard workweek.
Overtrading occurs when a business expands its operations too rapidly, straining its financial resources and potentially causing liquidity problems.
A stock is considered overvalued when its current market price does not seem justified based on its earnings and growth potential, suggesting that it is likely to decrease in price.
An overvalued currency is a currency whose value is artificially higher than its market value due to governmental support or intervention. This misalignment can impact a country's trade balance, economic stability, and competitiveness.
The process in which new computer data replaces or modifies the data at a disk location that was previously occupied by other data. This occurs when new files with the same name are saved over existing ones.
The purchase or redemption of its own shares by a company; permitted subject to certain legal restrictions.
An owner is an individual or entity that holds legal title to property, encompassing ownership, dominion, or vested title of said property.
**Owner Financing**, also known as **Seller Financing**, is a real estate financing method where the property seller directly finances the purchase for the buyer, bypassing traditional lending institutions. In this arrangement, the seller extends credit to the buyer, who agrees to make regular payments, including interest, until the loan is paid off or the property is refinanced.
The term 'Owner of Record' refers to the person(s) or entity that is officially recognized as the owner of a property based on public records.
An owner-operator is an individual who owns as well as operates their own business or the equipment used in the business for the purpose of earning income. For example, truck drivers often operate as owner-operators of their trucks.
Owner's equity represents the portion of an organization's value held by its owners, encompassing capital investments and retained earnings, minus liabilities such as dividends and other financial obligations.
An insurance endorsement that provides liability coverage for an insured who is sued due to the negligent acts or omissions of an independent contractor or subcontractor, resulting in bodily injury and/or property damage to a third party.
Coverage for bodily injury and property damage liability resulting from the ownership, use, and/or maintenance of an insured business's premises as well as operations by the business anywhere in the United States or Canada.
Owner's equity represents the portion of an organization's value held by its owners, encompassing capital investments and retained earnings, minus liabilities such as dividends and other financial obligations.
Ownership refers to the exclusive right of possessing, enjoying, and disposing of a thing. It encompasses both the concepts of possession and title, making it broader in scope than either.
A method of owning real estate, which affects income tax, estate tax, continuity, liability, survivorship, transferability, disposition at death and at bankruptcy. Ownership forms include various structures with different legal and financial implications.
A public offering refers to the sale of equity shares or other financial instruments by an organization to the public to raise capital. This process typically involves issuing stock through an initial public offering (IPO).
A Qualified Organization is a term primarily used in tax law to denote entities that meet specific regulatory criteria and are eligible for certain tax exemptions and privileges.
A pivotal work by Kenneth Blanchard and Spencer Johnson which encapsulates management principles through simplified, actionable techniques like one-minute praise or reprimand, aimed at increasing productivity and employee satisfaction.
Thinking outside the box refers to creatively thinking that is not restrained by conventional or traditional boundaries. It encourages innovative problem-solving approaches.
