A special situation refers to an investment opportunity often involving stocks that are expected to change in value significantly due to imminent or ongoing events. These can include undervalued stocks and those that fluctuate wildly due to specific news developments.
A type of property conveyance deed in which the grantor limits the title warranty given to the grantee to claims arising only by, from, through, or under the grantor, and does not cover defects arising before the grantor's ownership.
A finite-life entity created by corporations for a specific, narrow purpose, such as issuing income-preferred securities. These entities are used for various financial and organizational purposes, and are also known as special-purpose vehicles (SPVs) or variable-interest entities (VIEs).
Special-purpose teams are temporary organizational teams created to resolve specific issues. These teams are instrumental in addressing unique challenges that require targeted expertise and action.
A special-use permit is a right granted by a local zoning authority to allow specific activities within a zoning district. These activities, considered conditional uses, require special approval from the zoning authority.
A specialist is an individual with extensive knowledge and expertise in a specific field or area. In the context of securities, a specialist is a member of a stock exchange responsible for maintaining a fair and orderly market in one or more securities.
Specialty advertising utilizes advertising novelties such as buttons, bumper stickers, and balloons with writing as mediums to convey promotional messages. This form of advertising aims to create a lasting impression through tangible items.
A retailer concentrating on selling one merchandise line of goods for a particular and usually selective clientele.
Specialty selling refers to the direct retailing of items or services that are not commonly found in standard retail stores. Typical examples include encyclopedias, life insurance, and various niche products.
Specialty shops are retail stores that specialize in a narrow range of items tailored for a specific clientele, such as pipe tobacco, wedding gowns, lawn mowers, and bicycles.
Specie refers to money that holds intrinsic value, typically consisting of precious metals like gold and silver coins, which are used as a medium of exchange.
An unconditional guarantee from the Export Credits Guarantee Department (ECGD) to a UK bank enabling that bank to finance an exporter's medium-term credit to an export customer without recourse; the arrangement is known as supplier credit in contrast to the buyer credit under which the bank finances the overseas buyer to pay the exporter on cash terms.
The specific charge-off method allows for the deduction of bad debt at the time a specific receivable is determined to be uncollectible, following the exhaustion of all possible collection methods. Accrual basis taxpayers are required to use this method for tax purposes, as they can no longer accrue reserves for bad debts.
The Specific Identification inventory method considers the sale and cost of each item specifically. It is particularly useful for investors managing securities acquired at different costs, providing flexibility in reporting taxable income.
A specific lien is a charge or encumbrance against a specific piece of property that secures the payment of a debt tied directly to that property.
Specific Order Costing, often compared to job costing, is a method of assigning production costs to a distinct batch or order. It provides a bespoke way to track the profitability and efficiency of unique production runs.
Specific performance is a legal remedy in contract law, requiring the breaching party to fulfill their obligations under the contract, typically enforced when the subject matter is unique.
Specifications are detailed instructions provided in conjunction with product plans or purchase orders. They may stipulate the type of materials to be used, special construction techniques, dimensions, colors, or a list of the qualities and characteristics of a product.
Speculation is the purchase of any property or security with the expectation of obtaining a quick profit as a result of price change, possibly without adequate research. It is often compared to gambling but is different from investment.
Speculative building involves land development or construction without formal commitments from end users. Builders anticipate future demand, contrasting with custom building, which is contractually defined.
Speculative risk refers to the possibility of both financial loss and financial gain, characterized by uncertainty and typically not covered by insurance.
A market participant who seeks to profit from buying and selling financial instruments, generally taking on substantial risk and adding liquidity and capital to the markets.
Speech recognition software allows users to interact with their computers using verbal commands. This technology can perform a variety of tasks such as word processing, managing spreadsheets, and handling database management.
Speedup refers to the efforts by employers to obtain increased productivity from workers without a corresponding increase in wages. This practice is commonly seen in both industrial and corporate settings where efficiency is crucial.
A spelling checker is a software feature available on many word processing programs that helps identify and correct misspelled words in a document.
Spend management is a strategic and systematic approach to optimizing a company's total expenditure to achieve the best value for money, integrating areas such as sourcing, procurement, contract management, and supply-chain logistics.
Spendable income, also known as after-tax cash flow, refers to the amount of money an individual or business has available to spend after all taxes have been deducted from their gross income.
Money used for the purpose of small current expenses; also called pocket money. This term often refers to a small amount of cash on hand for incidental expenses or discretionary use.
A trust fund created to provide financial maintenance for another while securing it with restrictions to guard against its unwise use. Spendthrift trusts are often created by parents for their children.
Spillover refers to the effects of economic activity or processes on individuals or groups who are not directly involved in the activity. These can be either positive or negative, impacting those who live or work nearby.
A type of corporate restructuring wherein a parent company divests itself of a wholly owned subsidiary by distributing shares in the latter to its own shareholders, making the subsidiary an independent company. This process often aims to increase shareholder value and improve the focus of both entities.
Splintered authority refers to the division of authority among many managers, resulting in a manager having to deal with several other managers before decisions can be finalized.
A split commission refers to the dividing of commission payments between two or more parties, typically seen in securities, real estate, and other brokerage transactions.
A split-dollar life insurance policy is a strategy in which the premiums, ownership rights, and death proceeds are divided between an employer and an employee, or a parent and a child. This type of policy can be a useful tool for providing benefits while sharing costs and risks.
A work shift that is interrupted with an unpaid time-off period, commonly seen in roles like school bus drivers who work early in the morning and late in the afternoon, with the middle of the day off.
A type of corporate restructuring in which a parent company divests itself of a wholly owned subsidiary by giving its shareholders the opportunity to exchange their shares for shares in the subsidiary, thereby making it an independent entity. Unlike a spin-off where shares are distributed automatically, in a split-off, the parent company makes a tender to its shareholders, who can choose whether or not to acquire shares in the new company.
The split-off point refers to the stage in the production process where jointly produced products become separately identifiable and can be sold or further processed.
A split-up is a form of reorganization by which a corporation divides into two or more smaller corporations. The stock of the new corporations is distributed tax-free to the shareholders of the original corporation, who surrender their stock in the old corporation.
Spoilage refers to materials or goods that are rendered unusable or unsellable due to defects, damage, or expiration during the production process.
An individual who speaks on behalf of a product or service and whose name becomes associated with the product or service. A spokesperson may be a celebrity or someone who begins as an unknown and gains celebrity status through association with the product.
A sponsor in financial markets plays a crucial role in the flotation of a company, acting as a guiding entity through the complex process of going public. They supervise the preparation of the prospectus and ensure the company comprehends the benefits and obligations associated with public listing.
In computing, spool refers to a process of placing a sequence of data or tasks into a temporary working area for a device or program to access, usually on a first-come, first-served basis. A common use is for managing print jobs.
A supervisory check on work performance or product quality conducted at random intervals to ensure a high level of performance and quality.
A spot commodity is a commodity traded with the expectation that it will actually be delivered to the buyer, as contrasted with a futures contract, which will usually expire without any physical delivery taking place. Spot commodities are traded in the spot market.
The spot delivery month refers to the nearest month in which a commodity could be delivered, relative to the current month of trading.
A market that deals in commodities or foreign exchange for immediate delivery. Immediate delivery in foreign currencies usually means within two business days. For commodities, it typically means within seven days.
The current delivery price of a commodity traded in the spot market, also referred to as the cash price. It is the price at which a commodity can be bought or sold for immediate delivery.
The spot rate is the current market price at which a particular currency can be bought or sold for immediate delivery, typically within two business days.
Spot zoning involves rezoning a parcel of land where all surrounding parcels are zoned for a different use, creating a use that is often incompatible with its surroundings. This type of zoning change is usually disallowed by courts.
An individual retirement account created in the name of a nonworking spouse, allowing potentially larger contributions based on the working spouse's income.
The term 'spread' can refer to several different financial concepts, including the difference between buying and selling prices, the diversity in a portfolio, and a strategy in commodity futures.
A spreading agreement is a financial arrangement that extends the collateral of a loan to include multiple properties, providing lenders with enhanced security and borrowers with greater flexibility.
A computer application used for tabular calculations and complex financial modeling, capable of housing text, numbers, and formulas within a structured matrix of cells in rows and columns.
A specialized form of power of attorney that remains inactive until a specified event occurs, such as the incapacity or disability of the principal, at which point it becomes effective.
A railway spur is a secondary line that branches off from a main track to provide access to specific facilities or locations, such as industrial plants, warehouses, or cargo loading areas.
Spyware refers to any software that covertly gathers user information or monitors online activity without the user's knowledge.
Square footage refers to the area, measured in square feet, of a property available for sale or rent. It is a critical metric in real estate, used to determine the size and value of buildings or land.
In financial trading, a square position refers to an open position that has been covered or hedged, neutralizing the trader’s exposure and risk associated with price movements.
Squatter's rights refer to the legal allowance to use the property of another in the absence of an attempt by the owner to force eviction. Under certain conditions, this right may eventually be converted to a title to the property over time by adverse possession, if recognized by state law.
A financial term referring to tight monetary conditions when loan money is scarce, interest rates are high, and borrowing becomes challenging and expensive; it may also pertain to situations where increased costs cannot be passed to customers.
An abbreviation that can refer to either Statutory Sick Pay or State Second Pension, SSP is a term often encountered within UK employment and benefits legislation.
Stabilization refers to various efforts and actions aimed at maintaining equilibrium in financial, economic, or market environments, ensuring stability in currency exchange rates, economic cycles, or securities prices.
Stachybotrys Chartarum, commonly known as black mold or stachy, is a type of mold that thrives in areas of a structure exposed to constant moisture. While its presence is associated with adverse health effects, a firm, scientific consensus regarding the extent of these effects is ongoing.
Stachybotrys Chartarum, commonly known as black mold, is a toxic mold species that can cause health issues when present in living or working environments. It is often found in places with excessive moisture.
Stachybotrys chartarum, also known as black mold, is a species of mold known for its dark green or black appearance and its potential to cause health issues in individuals exposed to its spores. It commonly grows in areas with high moisture levels, such as basements and bathrooms.
Staff refers to personnel employed in an organization, performing various roles and functions necessary for the organization's operations. It can also denote specific management functions in the context of line and staff management.
Staff Authority refers to the power to advise but not direct other managers, mainly found in administrative and support functions within an organization.
A person who applies for shares in new issues in anticipation of selling them at a higher price once trading begins.
Stagflation refers to a period where an economy experiences stagnant growth while simultaneously facing high inflation. This economic anomaly challenges conventional economic theories which typically expect inflation to rise during periods of high economic growth or vice versa.
Staggered directorships serve as a potent anti-takeover measure by ensuring that directors' terms are staggered, thus preventing a hostile bidder from easily gaining control of the board, even with a controlling interest.
A system of electing a percentage of the board of directors of a public corporation, usually one third, each year for a period of from one to three years. The purpose of staggering the elections is to slow any attempts to take over the corporation.
Staggering Maturities is a technique used by bond investors to lower risk by diversifying investments across bonds with varying maturities. This approach helps in hedging against interest rate movements and mitigating the volatility associated with long-term bonds.
Staging refers to the process of remodeling and interior decoration to enhance the marketability of a house preparatory to sale.
Stagnation refers to a period of no or slow economic growth, or economic decline in real (inflation-adjusted) terms. Economic growth of about 1% or less per year is generally taken to constitute stagnation.
Ownership interest or a share in an enterprise, often referring to a vested interest in a company, property, or financial venture.
An overview of the Stakeholder Pension Scheme in the UK, highlighting its low-cost structure, provider constraints, and automatic enrollment requirements.
Stakeholders are individuals or groups with an interest in an organization, such as shareholders, employees, suppliers, customers, and members of the community. Stakeholder theory seeks to incorporate the interests of all stakeholders in business activities and decisions.
A cheque that has not been presented for payment within a specific period, typically six months, rendering it invalid as the issuing bank will not honour it.
Stamp Duty is a tax collected for stamping legal documents, primarily related to the transfer of shares, securities, and land. It is calculated based on the consideration given, with a specific rate that may be rounded up to the nearest multiple of a designated currency unit.
Stamp Duty Land Tax (SDLT) is a tax levied on the purchase of property or land in the United Kingdom. The tax is paid by the buyer and varies depending on the value and type of property.
Stamp Duty Land Tax (SDLT) is a tax charged on the purchase price of property or land in the UK. The rates and thresholds vary depending on several factors such as property value, type, and buyer's status.
Stamp Duty Reserve Tax (SDRT) is a tax on electronic paperless transactions of UK shares, debenture stock, and other securities. SDRT is charged at a rate of 0.5% of the transaction's value.
A tax levied on the transaction when a shareholding is transferred without a document, or when the document is kept outside the UK. It is a key aspect of modern, electronic, and paperless share transactions on UK exchanges.
A stand-alone system is a workstation made up of a single unit used by one person at a time and not connected to other systems or a computer. Common examples include personal computers and automatic typewriters.
A standard is an established and fixed measure or norm used in assessing quality or performance. Standards ensure consistency, reliability, and quality across various domains, such as products, processes, or services.
Standard & Poor's Corporation (S&P) is a subsidiary of McGraw-Hill, Inc. that provides a range of investment services, including rating securities, compiling the S&P composite indexes of stocks, and publishing statistical materials, investment advisory reports, and other financial information.
The Standard & Poor's Index, widely known as the S&P 500, is a broad-based measurement of changes in stock-market conditions based on the average performance of 500 widely held common stocks.
The S&P 500 is a stock market index that tracks the stocks of 500 large-cap U.S. companies. It represents the stock market's performance by reporting the risks and returns of the biggest companies.
The classification of stocks and bonds according to risk, issued by Standard & Poor's Corporation. S&P's ratings range from Investment Grade for low-risk investments to speculative grades for higher-risk investments.
The Standard & Poor's Case-Shiller Home Price Index tracks changes in the value of the residential real estate market, measuring the health and fluctuations in property values in various regions across the United States.
The Standard Advertising Register encompasses two key directories, the Standard Directory of Advertising Agencies and the Standard Directory of Advertisers, which serve as vital resources for the advertising industry, commonly known in the trade as the Red Books due to their red covers.
In a discounted cash flow (DCF) calculation, a standard cash flow pattern is characterized by an initial cash outflow followed by subsequent cash inflows, with no net cash outflows in subsequent years. This pattern, though useful in projections, is relatively rare in practice.
Standard cost refers to the predetermined unit cost of a product or service within a standard costing system. It is used for budgeting, performance evaluation, and cost control by providing a basis for comparison against actual costs.
Under a standard costing system, the standard cost allowance refers to the level of expenditure permitted for variable costs, based on actual levels of activity. It helps in budgeting and controlling costs efficiently.
An essential component in a standard costing system, the standard cost card provides a detailed record of how the standard cost of a product is built up, encompassing materials, labor, and overheads.
Standard costing involves assigning a predetermined cost to products or services, which serves as a benchmark for measuring performance and cost control.
Standard costing is a cost accounting system that uses predetermined costs and income benchmarks for products and operations, comparing them with actual results to establish variances.
The standard deduction is a provision that allows taxpayers to deduct a specified amount from their gross income, thereby reducing their taxable income. This deduction is an alternative to itemizing deductions and is adjusted for inflation annually.
Standard deviation is a statistical measure that quantifies the amount of variation or dispersion in a set of values. It is widely used in situations where comparing variability between different data sets or understanding the consistency of data points is crucial.
In standard costing, the standard direct labour cost is derived from the standard time allowed for the performance of an operation and the standard direct labor rate for the operators specified for that operation.
