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.
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 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.
A predetermined rate of pay for direct labour operators used for establishing standard direct labour costs in a standard costing system, providing a basis for comparison with actual direct labour rates paid.
In standard costing, the standard cost derived from the standard quantity of materials allowed for the production of a product and the standard direct materials price for the materials specified for that product.
In standard costing, a predetermined price for direct materials used for establishing standard direct materials costs in order to provide a basis for comparison with the actual direct material prices paid.
The standard error measures the accuracy with which a sample distribution represents a population by indicating the degree of variability or dispersion present in the sample.
The Standard Fire Policy is a foundational insurance contract designed to provide coverage against fire-related damages to properties. It is essential for homeowners and businesses alike to protect their assets from unforeseen fire incidences.
In standard costing, a standard fixed overhead cost is derived from the standard time allowed for the performance of an operation or the production of a product and the standard fixed overhead absorption rate per unit of time for that operation or product.
A standard hour represents a measure of production that quantifies the amount of work or number of units produced within an hour under normal conditions. It is instrumental in calculating efficiency ratios and efficiency variances.
The Standard Industrial Classification (SIC) System is a federally designed standard numbering system that identifies companies by industry, providing essential information used by market researchers, securities analysts, and others. It is being replaced by the North American Industry Classification System (NAICS).
The Standard Interpretations Committee (SIC), now known as the International Financial Reporting Interpretations Committee (IFRIC), was established by the International Accounting Standards Committee (IASC) to provide interpretations of International Financial Reporting Standards (IFRS). These interpretations aimed to standardize the application of accounting standards across various regions and industries.
The Standard Interpretations Committee (SIC), also known as the IFRIC (International Financial Reporting Interpretations Committee), develops interpretations of accounting standards to address issues that are not specifically covered in International Financial Reporting Standards (IFRS).
Standard Marginal Costing involves the determination and control of predetermined standards for marginal costs and income that are used for products and operations, with periodic comparisons to actual outcomes to identify and analyze variances.
A predetermined quantity of materials to be used in the production of a product, which is compared with the actual quantity of material used to provide a basis for material control.
The Standard Mileage Method permits an automobile business expense deduction based on a standard mileage rate. It allows taxpayers to deduct a specific amount per mile driven for various purposes.
A standard minute is a unit of time measurement. It represents one sixtieth of a standard hour, commonly used in various industries for standardizing time measurements in productivity and efficiency studies.
Standard Mix refers to the predetermined proportions set for the use of different materials in the manufacturing process or the budgeted total volume of sales expressed in proportions of a range of related products. This helps in calculating various variances such as direct materials mix variance, direct materials yield variance, sales margin mix variance, and sales margin yield variance.
A Standard of Care outlines the level of competence, diligence, and adherence to best practices that are expected of a professional in their field. It is a crucial component ensuring accountability and quality in professional services.
A measure of the quality and quantity of goods and services available to individuals and households within an economy, which reflects the overall well-being and comfort level.
The total of all the standard cost allowances for the actual level of activity achieved by an organization. It serves as a benchmark guide to manage and control the costs within an organization.
The budgeted revenue from an operation less the standard operating cost.
Standard Operator Performance refers to the established benchmark or expected level of performance for an operator in a specific role or task within an organization.
A standard cost for the fixed and/or variable overhead of an operation derived from the standard time allowed for the performance of the operation or the production of a product and the standard overhead absorption rate per unit of time for that operation or product.
Standard performance refers to a predetermined level of performance for an operator or a process used as a basis for determining standard overhead costs. This metric helps in measuring efficiencies and productivity in operations.
The standard price is a predetermined cost established for a product or service, commonly used as a benchmark for budgeting, costing, and performance evaluation in manufacturing and other industries.
Standard production cost refers to the estimated costs of products and operations, calculated based on predetermined performance and cost levels, providing a benchmark against which actual production costs can be compared.
Understand the concept of Standard Purchase Price, a predetermined price set for each commodity of direct material for a specified period, used in a system of standard costing.
The rate of value added tax (VAT) applied to all goods and services sold by taxable persons that are not exempt, zero-rated, or subject to a special rate. For the 2016-17 tax year, the standard rate was 20%. It is also the marginal tax rate for most taxpayers.
A predetermined rate of pay set for each classification of labor for a specific period. These rates are compared with the actual rates paid during the period to establish direct labor rate of pay variances in a system of standard costing.
A predetermined selling price set for each product sold for a specified period. These prices are compared with the actual prices obtained during the period in order to establish sales margin price variances in a system of standard costing.
Standard termination refers to the process by which a defined benefit pension plan is voluntarily ended by an employer following specific regulatory guidelines.
In the context of standard costing systems, standard time refers to the time allowed to carry out a production task. It can be expressed either as the standard time allowed or in terms of standard hours representing the output achieved.
Standard variable overhead cost refers to a specific type of standard cost derived from the standard time allowed for an operation or product production and the standard variable overhead absorption rate per unit time for that operation or product.
The standard wage rate refers to the normal or base salary of an employee before any overtime or premium pay is computed. It is vital for setting and managing payroll expenses within an organization.
The Standards Advisory Council, now known as the International Financial Reporting Standards (IFRS) Advisory Council, serves as a forum for organizations to advise the International Accounting Standards Board (IASB) on various priorities in the standard-setting process.
A standby fee is a sum required by a lender to provide a standby commitment within a certain period. This fee is forfeited by the borrower if the loan is not closed within the specified timeframe.
A standby loan is a commitment by a lender to make available a sum of money at specified terms for a specified period. It is generally not a desirable loan and is intended to be replaced by another commitment.
Standing data refers to information stored in a computer system for long-term use because it does not frequently change. An example is the names and addresses of clients.
A standing order is an instruction to make repeated shipments of goods without requiring individual reorder confirmations. These orders are continuous, adhering to predefined quantity and time specifications.
Staple stock refers to goods that have a consistent demand over long periods, exhibiting minimal seasonality. Retailers typically maintain constant inventory levels of these products.
Stare Decisis is a legal principle that mandates courts to follow judicial precedents set by previous cases when making decisions on new cases involving similar issues.
The Start Menu is a computer menu in Microsoft Windows that is called up by the Start button on the taskbar at the bottom of the screen. It provides access to Windows Help, several utilities, and all the applications installed on the computer.
A start-up is a new business venture, especially in its earliest stage, often funded by venture capital based on a detailed business plan.
The initial expenditure incurred in the setting up of an operation or project. The start-up costs may include the capital investment costs plus the initial revenue expenditure prior to the start of operations.
A start-up disk, also known as a boot disk, is a diskette, CD, or other media used to initialize a computer's startup process. It contains essential parts of the operating system needed to boot the computer, especially in emergencies.
The starting rate of income tax was a former rate of income tax in the UK, set below the basic rate of income tax. It replaced the lower rate in 1999 and was abolished in April 2008.
STAT is a medical term derived from the Latin word 'statim', meaning immediately. It indicates that an action or procedure needs to be performed urgently.
A state bank is a financial institution that operates under a charter granted by the regulatory authority of a specific state, as opposed to a national bank, which operates under a federal charter.
The main post office in a state responsible for receiving and distributing all mail within the state.
The State Earnings-Related Pension Scheme, commonly known as SERPS or the State Second Pension (S2P), was a component of the UK’s state pension system designed to supplement the basic state pension by providing additional benefits based on earnings.
The State Second Pension (S2P) is a former component of the UK state pension system, aimed at providing additional retirement income based on earnings.
The State Second Pension (SSP), also known as S2P, was a former UK government scheme intended to provide an additional pension on top of the basic state pension. It was introduced in 2002 to replace the State Earnings Related Pension (SERPS) and was funded through National Insurance contributions. The scheme was phased out in April 2016 and replaced by the New State Pension, a single-tier pension system.
Stated value is an assigned value given to a corporation's stock for accounting purposes in lieu of par value.
A statement can refer to a summary of financial transactions, a document showing the status of assets and liabilities, or an instruction in a computer program.
A comprehensive document that outlines a debtor's assets, liabilities, and creditor details in the context of bankruptcy proceedings, essential for assessing financial status during insolvency.
A series of statements issued by the Auditing Practices Board (APB) detailing basic principles and essential procedures in auditing, applicable to audits of financial statements for periods commencing before 15 December 2004.
The Statement of Cash Flow is a financial statement that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources. It also includes all cash outflows that pay for business activities and investments during a given period. Essentially, it acts as a reconciliation of the opening and closing cash balance for a company.
