A soft landing refers to a situation in which an economy slows down but manages to avoid falling into a recession. This term was borrowed from astronautics in the late 1950s and originally described a safe moon landing.
A special type of government loan in which the terms and conditions of repayment are more generous (or softer) than they would be under normal finance circumstances. For example, the interest rate might be less and the repayment term might be for a longer period.
A market in which demand has shrunk, or supply has grown faster than demand, making sales at reasonable prices more difficult, commonly referred to as a buyer's market.
Money contributed to a proposed development or investment that is typically tax-deductible, or refers to development costs that do not go into physical construction.
**Soft Spot** refers to a minor weakness in selected stocks or stock groups within a generally strong and advancing market. It indicates areas that are underperforming relative to the broader market trends.
Software refers to the programs and algorithms that run on computers, making it possible for them to perform specific tasks and functions. Software is a key element in the functioning of any computer system, distinctly separate from hardware, which comprises the physical components of the system.
Software Engineering is the systematic application of engineering approaches to the development, operation, and maintenance of software.
A software license is an agreement between a software publisher and the end user, outlining the terms under which the software can be used.
The Soil Bank program involves land held out of agricultural production to stabilize commodity prices and promote soil conservation. Subsidies to participating farmers are provided by the U.S. Department of Agriculture.
The sold ledger, often referred to as the debtors' ledger, captures all transactions involving sales made on credit. It helps businesses keep track of amounts owed by customers and ensures proper management of accounts receivable.
An accounting term referring to an individual who operates their professional practice as a sole proprietor, typically applied in fields like accounting, law, or consulting.
A sole proprietor is an individual who owns and operates an unincorporated business alone. Typically, a sole trader refers to an individual in business independently, while a sole practitioner is a professional practicing on their own.
A sole proprietorship is a business or financial venture that is carried on by a single individual and is not organized as a trust or corporation. The sole owner has unlimited liability and reports income and expenses on Schedule C of Form 1040.
Solicitors' Accounts are specialized financial records prepared under the Solicitors' Accounts Rules, emphasizing the separation of client funds from the solicitor firm's own funds to ensure transparency and trust.
A detailed examination of key contributions by Professor David Solomons on the education, training, and standards of professional accounting.
Solvency refers to the ability of an individual or an organization to meet its long-term financial obligations and continue its operations in the future. Specifically, solvency can represent a financial state where a person or company can pay their debts as they come due, or the extent to which a bank's assets exceed its liabilities.
Sorting is the process of arranging data in a particular order, either numerically or alphabetically. It is a fundamental operation in various computing tasks, used to organize data efficiently for quick access and analysis. Most modern computer operating systems include built-in sorting algorithms and programs.
In the UK, a sequence of numbers on a cheque, bank giro credit, or bank card that serves to identify the branch holding the account. The US equivalent is the routing number.
A channel of sale that generated an order or customer. Source evaluation is an essential part of direct marketing that enables marketers to concentrate their promotion expenditures on the best sources.
The first document to record a transaction, serving as proof of an event recorded by the company’s accounting system.
A source program is a computer program written in a high-level programming language (such as BASIC, FORTRAN, or Pascal) and fed into a computer for translation into machine language.
An analysis of changes in the financial position of a firm from one accounting period to another; also known as the sources and uses of funds statement.
Sources of funds are various channels through which businesses obtain the capital required to operate and expand. They are detailed within the statement of changes in financial position, highlighting the increase in funds during an accounting period. Funds are typically defined as working capital or cash.
Sovereign debt is debt issued by a national government in the form of bonds denominated in a foreign currency. It is often considered a low-risk investment, but instances of sovereign debt crises have demonstrated that this is not always the case.
Sovereign risk, also known as political credit risk, refers to the risk that a foreign central government will default on its loan obligations or fail to honor other financial commitments, potentially leading to financial loss for investors.
A sovereign wealth fund (SWF) is a state-owned investment fund composed of various financial assets strategically managed to increase wealth and provide financing for the future economic needs of the nation.
Government-owned pools of investment funds typically invested in foreign assets and funded by foreign currency reserves, derived from current account surpluses.
Società per Azioni (SPA) is the Italian term for a corporation. It is a common legal form for medium and large enterprises in Italy, similar to a public limited company in other jurisdictions.
Spam refers to unsolicited and often irrelevant messages sent over the internet, typically to a large number of users, for the purpose of advertising, phishing, spreading malware, or other nefarious activities.
A spam filter is a software tool designed to distinguish spam from ordinary email, providing users with a cleaner and safer inbox experience. Spam filters can be applied at multiple levels, including the user's ISP, webmail service, and mail client.
Span of Control refers to the principle of management stating the number of people a manager can supervise effectively. The ability to supervise people depends on various factors including the nature of the job, the professional level of employees, and their geographical location.
SPDRs, also known as Standard & Poor's Depositary Receipts or 'spiders,' are securities traded on major exchanges representing ownership in a long-term unit investment trust that holds a portfolio of common stocks. These portfolios are meticulously designed to track the performance of the S&P 500 Index.
SPDR, also known as Standard & Poor’s Depositary Receipts, are a type of Exchange Traded Fund (ETF) designed to track a specific index, sector, commodity, or other asset.
A spec house is a single-family dwelling constructed by a builder or developer in anticipation of finding a buyer. It is built speculative, without having a specific buyer signed before construction starts.
A special agent can refer to either a professional engaged to act on behalf of another with limited authority, such as a real estate broker, or an Internal Revenue Service employee tasked with investigating potential fraud.
A compulsory levy or fee imposed on specific properties to fund public improvements that are assumed to increase the value or utility of the assessed properties.
A body of specialized tax lawyers appointed to hear appeals against assessments to various taxes, including income tax, corporation tax, capital gains tax, and inheritance tax.
Special Delivery was a service provided by the U.S. Postal Service for expedited handling and delivery of mail, offering preferential processing and delivering even on Sundays and holidays.
A single irregular dividend payment made after an especially profitable year or during the restructuring of a company, aimed at distributing excess profits or incentivizing shareholders.
Special Drawing Rights (SDR) are international reserve assets created by the International Monetary Fund (IMF) to supplement its member countries' official reserves.
Special Drawing Rights (SDRs) are supplementary foreign exchange reserve assets, created and maintained by the International Monetary Fund (IMF). Known informally as 'paper gold', SDRs were first issued in 1970 with the aim to supplement member countries' official reserves, providing liquidity and enhancing global financial stability.
U.S. Postal Service designation for packages containing goods that may be harmed in shipping, such as live chickens or perishable produce.
A special master is an expert appointed by a court to assist in understanding and potentially resolving complex legal matters.
An overview of the Special Multiperil Policy (SMP), which offers comprehensive insurance coverage for large businesses across property, liability, crime, and boiler/machinery.
An expression frequently used by retailers to comply with federal regulations when advertising special sales, often highlighting strikingly low prices to encourage customer perception of value.
A Special Purpose Vehicle (SPV) is a separate legal entity created by a parent company to isolate financial risk. The SPV is often used for a single specific purpose, such as to facilitate complex financial transactions, isolation of assets, and credit enhancement in securitization.
A Special Purpose Vehicle (SPV) or Special Purpose Entity (SPE) is a subsidiary created by a parent company to isolate financial risk. Its legal status as a separate company allows separation of the parent organization from financial risk.
A special resolution is a resolution of the members of a company that must receive the approval of at least 75% of the members to be valid. It’s a crucial mechanism for making significant changes within a company, requiring thorough notice to all members and detailed information about the proposed resolution.
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.
