A Stores Issue Note (SIN) is a document used in inventory management to authorize the release or issue of inventory items from the warehouse to the production department or other requesting departments.
In accounting, stores oncost refers to the indirect costs or overheads associated with handling and storing materials used in production. These costs are not directly attributed to the cost of the raw materials themselves but are necessary for the overall production process.
A Stores Returns Note (SRN) is a document used to record the return of materials to the store or warehouse, often for reasons such as quality issues, over-ordering, or incorrect items delivered. It ensures accurate inventory management and financial accountability.
A Stores Returns Note (SRN) is a document used in accounting and inventory management to record the return of goods or materials back to the warehouse or supplier. This notation is crucial for adjustments in inventory levels and accurate record-keeping in financial and material management systems.
Stowage refers to the methodical arrangement of freight in a ship's storage area to minimize risk to both the vessel and its cargo, optimizing space usage and ensuring the safety of transported goods.
A straddle is an options strategy involving the purchase of both a put and a call option on the same asset, with the same strike price and expiration date. This strategy capitalizes on significant price movements in either direction.
A non-negotiable bill of lading that specifies the carrier is to deliver the goods to a designated person at a specific location.
A bond issued in the primary market that carries no equity or other incentive to attract the investor; its only reward is an annual or biannual interest coupon together with a promise to repay the capital at par on the redemption date.
Straight debt is a type of debt instrument that has specific characteristics including fixed repayment terms and interest rates, with no contingencies based on the borrower's profits or convertibility into equity.
Straight time refers to the standard time or number of work hours established for a particular work period. An employee working straight time is not being paid overtime.
A method of calculating the amount by which a fixed asset is to be depreciated in an accounting period, using a constant annual depreciation charge against profits year by year.
The straight-line method of depreciation is a calculation method whereby an equal amount of an asset's cost is allocated as an expense for each year of the asset's useful life. This method is commonly used for accounting and tax purposes.
Straight-line production is a traditional production-line method where all parts of the process are arranged sequentially on a straight production line, facilitating the efficient, step-by-step assembly of each piece.
A straphanger refers to a bus or rail commuter, particularly one who stands up while traveling, often holding onto bars or handles for support. The term originates from early subways where leather straps were used for passengers to grip.
A strategic alliance is a long-term partnership between two or more organizations that collaborate to achieve mutual benefits and gain a competitive advantage.
Strategic Financial Management is an approach that integrates financial techniques with strategic decision-making to optimize long-term business performance.
An evaluation of an investment decision based on broader criteria than pure financial metrics, considering long-term strategic benefits and intangible factors, particularly relevant for advanced manufacturing technology decisions.
Strategic management accounting is a management accounting system focused on long-term strategic decision-making, providing vital insights for pricing strategies and capacity expansion.
In planning and budgeting, strategic misrepresentation involves knowingly understating costs and overstating benefits to secure project approval. Distinct from optimism bias, it is a deliberate policy often justified as part of the negotiation process.
Strategic Planning involves the management act of determining a firm's future environment and response to organizational challenges. It is crucial in making decisions that determine the direction of a firm.
A strategy in a business context refers to a comprehensive plan designed to achieve long-term goals and objectives. It involves the allocation of resources and the implementation of actions to gain a competitive advantage.
Stratified Random Sampling is a method used to divide a population into distinct subgroups or strata, which are independently sampled to achieve more precise estimates.
A straw boss is an under-foreman or group leader who holds delegated authority to supervise others, often without a formal title or permanent status. Their supervisory roles are usually secondary to their production responsibilities.
An individual who purchases property for the purpose of concealing the identity of the eventual purchaser, often used in real estate transactions.
Streaming is the technology for delivering multimedia, such as audio and video, over the Internet in real time, allowing users to start playing content without downloading the entire file.
The term 'Street' is shorthand for Wall Street and broadly refers to the financial community in New York City and elsewhere.
Street name refers to the practice of holding securities in the name of a broker or another nominee instead of the customer's own name. This facilitates easier and faster transfer of shares.
Street price refers to the average or usual price charged for a product, particularly when it is rarely sold at the manufacturer's suggested retail price (MSRP). It frequently appears in consumer electronics reviews, especially for products like personal computers and peripherals.
Intuitive intelligence or reasoning power not gained by formal education. Street smarts refer to the practical knowledge and capability to handle challenges and navigate complex situations often derived from real-life experiences and interactions.
A comprehensive evaluation imposed by the Obama administration in 2009 on certain large banks to assess their ability to withstand a major economic downturn without needing additional capital infusions.
Stress testing is a method used in risk analysis that employs simulations to estimate the impact of worst-case scenarios. It is widely used by regulators, rating agencies, and financial institutions.
A Stretch IRA is an Individual Retirement Account (IRA) structured to extend the period of tax-deferred earnings beyond the lifetime of the original account holder, potentially benefiting multiple generations.
Stretchout refers to two distinct concepts: accelerating the work pace without additional compensation for workers and extending the time needed to pay for a purchase.
Strict product liability refers to the legal responsibility of all parties involved in the manufacture, distribution, and sale of a product for any damage it causes, regardless of fault or intention.
A strike is an organized work stoppage by labor intended to exert pressure on management for better contract terms, improved working conditions, settlement of grievances, or union recognition as a bargaining agent.
Union benefits provided to striking members, often in the form of flat payments or graduated payments according to family needs. Strike benefits may also include welfare payments in some states.
A formal notification given by a union to an employer and relevant mediation agencies, signaling an imminent strike action due to unmet demands or rejected offers.
Monies paid by the union to striking members to help compensate for lost income as a result of the strike.
The strike price, also known as the exercise price, is the predetermined price at which the owner of an option can buy or sell the underlying asset before or at the expiration date.
A strike vote is a vote cast by members of a union to authorize a strike against an organization. A clear majority is required for the vote to be effective, but the union leadership decides the timing and occurrence of the actual strike vote.
Strikebreakers, also known as scabs, are management-hired replacements for striking employees. They must cross a picket line and are typically bitterly resented by striking employees.
Strip development is a form of commercial land use where each establishment has direct access to a major thoroughfare. It is typically associated with the intensive use of signs to attract passersby.
A stripped coupon refers to a small minimum trading unit of a larger security, where the principal amount and the interest payments have been separated and sold as individual zero-coupon securities.
STRIPS (Separate Trading of Registered Interest and Principal of Securities) are zero-coupon bonds created by separating the interest and principal components of a bond or note and selling them individually.
Structural capital is one of the three primary components of intellectual capital. It includes the processes, databases, patents, and other organizational resources that support the operations of a business.
Structural unemployment is a form of unemployment resulting from industrial reorganization, typically due to technological advancements, rather than fluctuations in supply or demand.
Structural Unemployment is a type of unemployment caused by a mismatch between the skills that workers in the economy can offer and the skills demanded by employers.
In the context of real estate and construction, a structure refers to any built improvement made on a site. These include buildings, fencing and enclosures, garages, gazebos, greenhouses, kiosks, sheds, and utility buildings.
Structured finance refers to the creation of complex debt instruments through methods such as securitization or the incorporation of derivatives to existing instruments. It involves asset pooling, tranching of liabilities, and the creation of special purpose vehicles to mitigate risk.
A structured interview is a systematic method where the interviewer strictly controls the conversation topics and uses a defined question and response format. This approach aims to ensure consistency and comparability of findings across different interviews.
A type of arbitrage fund that finances its operations through the sale of asset-backed commercial paper and medium-term notes, investing primarily in asset-backed securities.
Structuring a deposit involves breaking down large financial transactions into smaller ones to avoid triggering scrutiny from financial institutions or authorities.
For tax purposes, a student is defined as an individual who, during at least five calendar months of the tax year, is a full-time student at a qualified educational institution or is pursuing a full-time course of institutional on-farm training.
In economics and business, submarginal entities are unable to maintain the minimum profit, production level, and so on to remain permanently in existence.
Sub-optimization refers to the process of utilizing resources or strategies to less than their maximum potential, which results in achieving less than the optimal output or outcome.
A sub-subsidiary refers to a subsidiary undertaking of a company that is itself a subsidiary of another parent company.
Subchapter C refers to the portion of the Internal Revenue Code that covers corporate taxation, outlining the rules and regulations for how corporations are taxed in the United States.
Subchapter J of the Internal Revenue Code concerns the taxation provisions related to estates, trusts, beneficiaries, and decedents. It outlines the rules and regulations for income distribution, fiduciary responsibilities, and tax computation for these entities.
A Subchapter S Corporation, commonly referred to as an S Corporation, is a special type of corporate structure recognized under Subchapter S of the Internal Revenue Code. It allows corporations to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes.
A subcontractor is an individual or business that is hired by a general contractor to perform a specific task as part of a larger project. The general contractor remains responsible for the overall completion and quality of the project.
A lower level of a directory or folder, which may itself also contain one or more subdirectories or subfolders. The whole hierarchy of directories and subdirectories is known as the directory tree.
A subdivider is an individual or entity that partitions a tract of land into smaller plots for the purpose of selling these plots. Typically, a subdivider also installs necessary infrastructure such as utilities and streets to make the plots ready for development.
The process of dividing a tract of land into smaller parcels to facilitate development, often accompanied by the installation of utilities and streets.
A subdivision is a tract of land divided into individual lots that are suitable for homebuilding or other development purposes. Most states and localities require that a subdivision plat be recorded to ensure proper and compliant land use.
The condition of sale of real estate property whereby the purchaser takes property encumbered by a pre-existing mortgage, and the purchaser's obligation to the mortgagee is limited to the property subject to the mortgage, unless the purchaser becomes personally liable on the debt by assuming the mortgage.
Subjective goodwill of an enterprise is calculated by deducting its net tangible assets from the net present value of its estimated future cash flows.
Subjective probabilities represent individual beliefs about the likelihood of an event occurring, differing from objective probabilities that are based on statistical evidence.
A sublease is a rental arrangement in which the original tenant leases out part or all of the rented property to a new tenant.
Subletting refers to the act of a tenant leasing out part or the entirety of a property to another party under the conditions of their own lease agreement with the landlord.
Subliminal advertising refers to advertising messages that are presented below the threshold of consciousness, making them undetectable to the conscious mind but able to influence subconscious behavior.
Subordinated debt is a type of unsecured debt that can only be claimed by a creditor after the claims of secured creditors have been met, particularly in the event of a liquidation.
Subordination refers to the process of establishing the priority of one claim or debt over another. It is commonly used in various fields including finance and real estate to manage the hierarchy of obligations and claims.
A subpoena is a legal document issued under the authority of a court to compel the appearance of a witness or the production of documents for judicial proceedings. It carries legal penalties for non-compliance.
An exploration of subprime lending: providing loans to borrowers with poor credit ratings. Discussing the risks, costs, and historical implications—especially the role in the 2007-08 financial crisis.
A subprime mortgage is a type of loan granted to individuals with poor credit histories, which disqualifies them from conventional mortgage loans.
The principle that, having paid a claim, an insurer has the right to take over any other methods the policyholder may have for obtaining compensation for the same event.
In computing, a subroutine is a set of instructions designed to perform a frequently used operation within a program.
Subscribed share capital refers to that portion of the company's equity that investors have agreed to buy and for which they have committed to pay, though full payment may not yet have been made. It is a subset of the issued share capital.
Subscript refers to a number or letter used to identify a particular element in an array. In mathematics, subscripts are written below the line, whereas in most computer languages, they are enclosed in parentheses.
A subscripted variable, also known as an array, is a data structure in which multiple elements are stored, each identified by an index or subscript.
An agreement to receive or participate in a service, product, or offering, typically involving periodic payments or commitments.
The subscription price refers to the fixed price at which existing shareholders of a corporation are entitled to purchase additional common shares in a rights offering or exercise their subscription warrants.
The right of existing shareholders of a corporation, or their transferees, to buy shares of a new issue of common stock before it is offered to the public.
A contractual right allowing existing shareholders to purchase additional shares of a new issue of common stock before it is offered to the public, aiding in preemptive protection against dilution of ownership.
A subsequent event is a material happening that occurs after the date of the financial statements but before the audit report is issued. Footnote disclosure is required to inform financial statement users properly. Typically, such events have a significant impact on financial position or earning capacity.
In mathematics, a subset is a set whose elements are all contained within another set. For example, Set A is considered a subset of Set B if every element of Set A is also an element of Set B. However, it is not necessary for all elements of Set B to be in Set A.
A subsidiary is an undertaking that is controlled by another undertaking, often referred to as the holding or parent company. The specific criteria for what constitutes control are defined by legislation, such as the Companies Act. Typically, a subsidiary's financial statements are consolidated into the financial statements of the parent company.
A subsidiary company is a firm that is fully or partially owned and controlled by another company, known as the parent company or holding company. The parent company owns more than 50% of the subsidiary's voting stock, giving it control over the subsidiary's operations and strategic direction.
A subsidiary ledger provides detailed information supporting a specific umbrella account found in the general ledger, ensuring data consistency and detailed record-keeping.
A subsidy is a financial aid or support extended by the government to certain individuals or groups, aimed at promoting economic and social policies.
Subsistence refers to maintenance without growth, typically in the context of standard of living. It denotes a level of living that is sufficient to keep the economic unit alive and reasonably healthy, but provides nothing more.
An economic proposition asserting that wages cannot fall below the subsistence level for an extended period as such a level cannot sustain the labor force.
An important concept in accounting, according to which transactions and other events are accounted for by their commercial reality rather than their legal form.
Substance vs. Form Concept in accounting and taxation refers to the distinction between the material or essential part of a transaction (substance) and the observance of legal or technical order (form). It is critical to distinguish between these in various tax situations, where courts and the IRS may look past the form to determine the actual substance of a transaction.
A person who makes a series of significant financial gifts to a charity, impacting the tax treatment of transactions between the donor and the charity.
A substantive test in auditing is employed to verify the existence, ownership, and valuation of assets and liabilities, often used to perform a balance-sheet audit or gather general audit evidence.
Audit tests designed to check the completeness, ownership, existence, valuation, and disclosure of the information contained in the accounting records and financial statements of an organization being audited.
A substitute cheque, also known as an image replacement document (IRD), is a negotiable instrument used in electronic clearing mechanisms to improve the efficiency and speed of check processing.
The concept of substituted basis is crucial in taxation, especially when dealing with property that has either an exchanged basis or a transferred basis. It helps in determining the tax implications of property transfers and exchanges.
Substitutes are products or services that can be used in place of each other, fulfilling similar needs or functions. Substitutes play a crucial role in determining market dynamics and consumer choices.
