A homestead exemption is a legal provision that reduces the taxable value of a homeowner's primary residence, effectively decreasing the property tax burden.
Homework refers to tasks assigned to students or employees to be completed outside of regular academic or work hours. The term encompasses both educational assignments for students and job-related tasks for employees.
The term 'homogeneous' refers to something having the same composition or form, often used in the context of organizations that produce or sell products with great similarities. This can lead to reduced organizational development and manufacturing costs.
A market structure characterized by a few firms producing products that are virtually indistinguishable from one another. Examples include the petroleum industry and network television.
The Hong Kong Stock Exchange (SEHK) is a primary marketplace for listed securities in Hong Kong, established in 1947. It serves as a central hub for the trading of a variety of financial instruments and houses the leading market indicator, the Hang Seng Index.
In business and finance, honor refers to accepting and paying an obligation when due, as well as recognizing significant accomplishments through rewards or accolades.
An honorarium is a voluntary payment given to a professional for services for which fees are not legally or traditionally required, often for cultural, social, or academic contributions.
The Hope Scholarship Credit was a tax credit that provided financial assistance for higher education expenses but was replaced in 2008 by the American Opportunity Tax Credit.
Horatio Alger was a 19th-century American author known for his novels that depicted poor but honest characters who achieved success through hard work and determination.
Horizontal Analysis is a time series analysis of financial statements that covers more than one accounting period to examine the percentage change in an account over time.
Horizontal Channel Integration is a strategy wherein a company acquires or increases its control over some of its competitors in the same industry, often aiming to enhance market share, reduce competition, and realize synergies through expanded operations.
A horizontal combination occurs when two or more companies operating at the same level in an industry merge to form a larger entity. It is similar to a horizontal merger.
Horizontal conflict refers to discord between competitors operating at the same level within a marketing channel, often resulting in market oversaturation and severe competition. It contrasts with vertical conflict, involving different levels within the distribution hierarchy.
Horizontal expansion refers to the growth strategy where a business increases its capacity and market share by acquiring facilities, buildings, or equipment to handle a higher volume of sales for products it already offers.
The presentation of a financial statement in which the debits are given on one side of the statement and the credits on the other. In the case of a balance sheet, the fixed assets and current assets would be shown on the left-hand side of the statement, and the capital and liabilities on the right-hand side.
Horizontal integration refers to the strategy where a company acquires, merges, or takes over another company operating at the same level of the value chain in the same industry. The primary aim is to reduce competition, increase market share, and achieve economies of scale.
Horizontal integration refers to the strategy where a company acquires or merges with other companies operating at the same level in an industry. It aims to consolidate resources, reduce competition, and increase market share.
A horizontal merger involves the merging of companies with similar functions in the production or sale of comparable products. It is often scrutinized for its potential anticompetitive impacts.
Horizontal specialization is an organizational process through which a single management function, such as recruiting, is divided among one or more subordinates. Also known as functional management, horizontal specialization commonly occurs due to an organization's growth requiring additional management coordination and control.
A horizontal union is a type of labor union that represents all workers in a particular craft or skill across an entire industry, region, or country, irrespective of the specific workplace.
A form of health insurance that covers hospital stays and related medical costs, such as medicines and physicians' services. Many organizations provide at least part of the cost of hospitalization insurance for their employees, with coverage varying depending on the specific policy.
A host serves as a central device or entity in various contexts, primarily in computing and communications, that aids in networking and data management, or in managing online interactions.
A host computer is a central system that provides services to other computers connected to it via a network. It is generally the more remote machine when two or more computers are used simultaneously.
A hostile bid is an attempt to acquire a company without the approval of the company's board of directors. Unlike an agreed bid, a hostile bid is unsolicited and can be seen as unfriendly by the target company.
Hostile fire refers to fire that is not contained within its intended environment, causing unintended damage to property. Insurance policies often provide coverage for such incidents, protecting against fortuitous loss.
A hostile takeover is an acquisition attempt by another company or raider against the wishes of the current management and board of directors.
A newly issued stock that is in great public demand, often experiencing significant price increases at its initial public offering (IPO) due to high demand and limited availability of shares. Also known as a hot new issue.
Hot money refers to capital that moves rapidly between financial markets to capitalize on interest rate differences or to avoid risks such as political intervention. Additionally, it may refer to dishonestly acquired money that needs to remain untraceable.
The term 'hot spot' can refer to either a place providing wireless Internet access or a clickable area in a hypertext document that calls up further information.
A term used to describe newly issued stock that rises quickly in price, often due to strong interest and demand from investors.
A hotlink is a connection between programs that allows users to change information in one program while the computer updates the same information in linked programs. Hotlinks are commonly implemented through technologies such as OLE (Object Linking and Embedding) or the older DDE (Dynamic Data Exchange) method.
Named after the escape magician, the Houdini chip is a specialized computer chip that allows machines to run both IBM-compatible and Apple computers. It facilitates the transfer of information between two different computer processors.
In various contexts, the term 'house' can denote different meanings ranging from a dwelling for residence to a business establishment engaged in securities or investment banking.
A house account is managed directly by the main office or a high-ranking executive of a firm, rather than by individual sales representatives in specific territories.
House to house transportation refers to the seamless logistics service that facilitates the movement of goods directly from the shipper's location to the receiver's location without intermediate handling.
House-to-House Sampling is a marketing strategy involving the direct distribution of product samples to individual homes to encourage trial and eventual purchase, often aiming to stimulate word-of-mouth promotional effects.
House-to-house selling, often referred to as door-to-door selling, is a direct sales technique where sales representatives visit potential customers at their homes, either with or without an appointment, to pitch products or services.
Household workers are individuals employed to perform domestic work in a private residence, such as nannies, housekeepers, and caretakers. Notably, federal income tax withholding is not required on payments made to household workers, but Social Security taxes must be paid.
An essential economic indicator that measures the capability of an average household to afford a home in a specific region. Primarily used to assess housing market conditions.
The Housing and Economic Recovery Act of 2008 was legislation passed to address the subprime housing crisis by creating a new regulator for housing-related Government-Sponsored Enterprises (GSEs) and granting enhanced powers to enforce standards and restrictions on these entities.
Housing and Urban Development (HUD) is a cabinet-level U.S. government agency established in 1965 to implement federal housing and community development programs. The Federal Housing Administration (FHA) is a part of HUD.
The Housing and Urban Development Department (HUD) is a U.S. government agency designed to ensure fair housing standards and affordable housing across the country.
A housing bond is a short- or long-term bond issued by a local housing authority to finance short-term construction of low- or middle-income housing or long-term commitments for housing, plants, pollution control facilities, or similar projects.
A housing code is a local government ordinance that sets minimum standards of safety and sanitation for existing residential buildings, as opposed to building codes, which pertain to new construction.
A statistic compiled and reported by the U.S. Census Bureau (Census) that represents the number of new housing units completed during the reporting period. The Census defines a completion as a unit that has a roof and is ready for occupancy.
A Housing Finance Agency (HFA) is a governmental (state or local) organization designed to provide housing assistance, often through tax-free bonds and low-interest mortgage loans for eligible borrowers.
An important economic indicator that offers an estimate of the number of dwelling units on which construction has begun during a stated period. The number of housing starts is closely related to interest rates and other basic economic factors.
HTML, or Hypertext Markup Language, is the standard language used to create and design documents on the World Wide Web. HTML elements form the building blocks of all websites.
A huckster, often described pejoratively, is an aggressive or unethical seller who employs misleading assurances and exaggerated claims to sell goods or services.
Human capital refers to the skills, knowledge, and experience possessed by an individual, viewed in terms of their value to an organization. This concept helps explain variations in wages and employment decisions in the labor market.
Human Factors, also known as Human Factors Engineering, Human Engineering, or Engineering Psychology, is a domain within Industrial Psychology focused on the optimal design of machines and systems for effective human use.
Human Information Processing (HIP) refers to the cognitive processes involved in thinking, remembering, interpreting, and making decisions. Understanding HIP is important for accountants as it provides insights into how people use information in decision-making, which can inform the selection of the most appropriate information and formats for financial reporting.
The Human Relations school of management theory emphasizes the importance of understanding human motivation in the workplace, focusing on recognition, encouragement, and rewarding individual contributions.
Human relations skills are management skills that facilitate effective interactions with personnel. These skills include leadership, communication, decision-making, negotiation, counseling, and conceptual skills.
Human Resource Accounting (HRA) involves reporting and emphasizing the value of the contributions of skilled and loyal employees to a firm's earning potential, and matching an organization's job requirements with the skills and abilities of its labor force in terms of measuring employee productivity contributions.
Human Resource Accounting attempts to recognize and quantify an organization's human resources in monetary terms, placing value on factors such as the age, experience, and future earnings power of employees.
Human resources refer to the personnel pool available to an organization. They are considered the most crucial resources within any organization, ensuring that the right number and kind of people are available at the right time and place to meet organizational needs.
Human Resources Management (HRM) represents an evolution from traditional personnel management, placing emphasis on leveraging an organization's human resources to achieve strategic goals. HRM encompasses recruitment, compensation, employee relations, and policy development to maximize employee performance and satisfaction.
Human-Information Processing (HIP) is a theoretical framework used to understand how humans perceive, process, store, and use information. It is essential in diverse fields like psychology, cognitive science, and artificial intelligence.
A Hundred-Percent Location, also known as a One-Hundred-Percent Location, refers to a prime area in a city or a town that garners the highest market values and foot traffic. These locations are in high demand due to their strategic positioning, offering businesses substantial visibility and profitability prospects.
**Hunkering Down** is a slang term used in the context of business and economics to describe taking a defensive stance and adopting a conservative strategy, usually in anticipation of tough conditions or to weather through a downturn. Companies often hunker down by reducing expenditures, postponing expansion plans, and preserving resources to maintain stability until the business environment improves.
The 'Hunt and Peck' typing method is a technique where individuals type by looking at the keyboard and pressing keys individually or with one or two fingers. This approach is contrasted with 'touch typing,' which involves typing without looking at the keyboard using all fingers.
The hurdle rate is the minimum rate of return on an investment or project that a manager or company seeks to achieve before it generally discusses or explores the project. This rate is also known as the required rate of return or the benchmark rate.
Hush money refers to cash given to assure the silence of the receiver, often in a manner akin to a bribe. It is typically used to keep certain information confidential, preventing it from becoming public knowledge.
Hybrid Accounting Methods are those accounting practices that incorporate elements from both cash and accrual accounting methods to better reflect a taxpayer's income. Used when authorized by the Treasury Regulations, and if consistently applied.
A Guide to Understanding Hybrid ARMs: A mortgage offering both fixed and adjustable interest rate periods.
A hybrid annuity is a contract offered by an insurance company that combines the benefits of both fixed and variable annuities, offering a balance between guaranteed returns and potential for higher earnings.
Hybrid Financial Instruments are synthetic financial instruments formed by combining two or more individual financial instruments, such as a bond with a warrant attached. They blend features of both debt and equity, providing the benefits of both categories.
A hybrid investment or security combines features of multiple types of financial instruments. These investment vehicles are crafted to provide a mix of benefits from the different underlying instruments they are associated with. For example, a structured note could resemble a bond but have its interest rate linked to the performance of an underlying commodity.
A Hybrid Pension Plan is a general term encompassing pension plans that incorporate elements of both defined-contribution and defined-benefit plans, offering versatility in retirement planning.
A hybrid vehicle uses two or more types of propulsion systems, commonly combining internal combustion engines and electric motors. This technology enhances fuel efficiency and reduces emissions.
Hydroelectric energy is electric power generated by harnessing the energy of flowing or falling water.
Developed by Frederick Herzberg, Hygiene Factors are essential elements that do not motivate employees on their own but are critical to maintaining employee satisfaction. These include salary, benefits, human relations skills, and working conditions. Their absence leads to dissatisfaction.
In broadcasting, hype refers to special promotional activities within programming presented by a station or network to attract a larger audience and thereby achieve higher audience ratings for a specific period. This practice is also known as hypo.
A situation in which levels of inflation are so high that money becomes virtually worthless and monetary exchange breaks down. The appropriate accounting treatment is set out in Section 31 of the Financial Reporting Standard applicable in the UK and Republic of Ireland. UK listed companies must apply International Accounting Standard 29.
A clickable word, phrase, or image on a web page that enables navigation to another page on the same site or another site on the World Wide Web.
A hyperlink, often referred to as a link, is an HTML object that allows users to jump to a new location within the same document, a different document, or an alternate resource location, typically on the Internet.
Hypertext, also known as hyperdocuments, refers to electronic documents that present information readable through non-linear pathways by following multiple connections or links.
Hypertext Markup Language (HTML) is a tag-based ASCII language used for creating pages on the World Wide Web. It is the backbone technology that structures the content on the web.
The Hypertext Transfer Protocol (HTTP) is a foundational protocol used for transmitting hypermedia documents, such as HTML, on the World Wide Web. It defines how messages are formatted and transmitted, and how web servers and browsers should respond to various commands.
HTTP is a foundational protocol used by the World Wide Web to transfer hypertext documents, primarily HTML files, across the internet.
To pledge something as security without turning over possession of it. Hypothecation creates a right in the creditor to have the pledge sold to satisfy the claim out of the sale proceeds.
Understanding Hypothecation: A comprehensive guide to its definitions, applications, and implications in banking, shipping, and tax allocation.
In empirical research, a hypothesis is an assertion made about some property of the elements being studied. It serves as a guiding assumption early in an investigation, directing the search for supporting data. At the conclusion of the study, the hypothesis is tested and determined to be true or false depending on whether the proposed property accurately characterizes the elements.
Hypothesis testing is a statistical procedure that involves making a formal decision about whether a statement (hypothesis) about a population parameter should be accepted or rejected based on sample data.
A Hypothetical Condition is a situation assumed to be true for the purposes of analysis or appraisal, even though it is contrary to known facts.
An I-Bond is a type of savings bond issued by the U.S. Treasury designed to protect against inflation. The interest earned on I-Bonds includes a fixed rate and an inflation rate that adjusts semi-annually.
The International Auditing and Assurance Standards Board (IAASB) establishes and promotes high-quality international standards for auditing, assurance, and related areas, aiming to enhance the quality and consistency of practice across the globe.
The International Accounting Standards Board (IASB) is the independent, private sector body that develops and approves International Financial Reporting Standards (IFRS). The IASB was formed to achieve transparency, accountability, and efficiency in financial markets around the world through consistent and high-quality accounting standards.
The IASC Foundation, now known as the IFRS Foundation, was established to oversee and develop a globally accepted set of accounting standards known as International Financial Reporting Standards (IFRS).
Ibbotson & Associates is a prominent provider of historical data for various financial investments, renowned for its annual publication 'Stocks, Bonds, Bills & Inflation.' This publication offers critical insights into long-term historical performance across various investment classes.
IBM is a global leader in the manufacturing of computers, servers, and other office equipment. Established in 1911 through a merger of three companies, it has played a crucial role in the evolution of information technology.
The Institute of Chartered Accountants of Scotland (ICAS) is a professional membership organization for Chartered Accountants. It provides qualifications, professional development opportunities, and advocacy for the accounting profession in Scotland and worldwide.
The Intercontinental Exchange (ICE) is an American company that owns and operates financial and commodity marketplaces. ICE plays a crucial role in global financial markets, providing trading and clearing services for a wide range of asset classes.
An Icon is a small graphic representation used to identify a computer program, file, or function within a graphical user interface (GUI). It serves as a quick visual shorthand, helping users navigate and interact with their software more efficiently.
Ideal capacity refers to the largest volume of output a facility can achieve if it maintained continuous operation at optimum efficiency without any losses, including those deemed normal or unavoidable.
An ideal standard in standard costing represents a cost, income, or performance benchmark set to be achieved only under the most favorable conditions. It contrasts with expected standards, which are more attainable.
Identifiable assets and liabilities, also known as separable assets and liabilities, are those parts of a business that can be disposed of separately without having to dispose of the entire business. They play a crucial role in financial accounting and business valuation.
Idle capacity refers to the portion of an organization’s budgeted capacity that is not utilized, resulting in unused hours. It is often measured in hours and indicates the gap between actual hours worked and budgeted available hours.
Idle capacity ratio measures the proportion of a company's total production capacity that is not being utilized during a specified period, compared to the budgeted capacity. It helps in understanding inefficiencies in resource utilization.
