Term
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Definition
| A liability representing an amount payable to another entity, usually because of the purchase of merchandise or a servce on credit |
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Term
| Annual Percentage Rate (APR) |
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Definition
| The effective (true) annual inteest rate on a loan. |
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Term
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Definition
| A long-term liability with a stated interest rate and maturity date, usually issued in denominations of $1000. |
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Term
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Definition
| The excess of the face amount of a bond over th market value of a bond (the proceeds of the issue). |
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Term
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Definition
| The formal agreement between the borrower and investor(s) in bonds. |
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Term
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Definition
| The excess of the market value of a bond over the face amount of the bonds issued. (the proceeds of a bond issue) |
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Term
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Definition
| The balance of the ledger account for an asset, liability, or owner's equity account. (including related contra accounts, if any) Sometimes referred to as carrying value. |
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Term
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Definition
| Bonds that can be redeemed by the issuer, at its option, prior to th maturity date. |
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Term
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Definition
| An amount paid in excess of the face amount of a bond when the ond is repaid prior to its established maturity date. |
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Term
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Definition
| A bond secured by the pledge of securities or other intangible property. |
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Term
| Consolidated Financial Statements |
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Definition
| Financial statements resulting from the combination of parent and subsidiary company financial statements. |
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Term
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Definition
| A potential claim on a company's resources (loss) which depends on future events; must be probable and reasonably estimable to be recorded as a liability on the balance sheet. |
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Term
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Definition
| An account that normally has a debit balance that is subtracted from a related liability on the balance sheet. |
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Term
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Definition
| Bonds that can be converted to preferred or common stock of the issuer, at the bondholder's option |
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Term
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Definition
| A bond for which the owners name and address are not known by the issuer and/or trustee. Intrest is received by clipping interest couponds that are attached to the bond and submitting them to the issuer. |
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Term
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Definition
| The rate used to calculate the interest payments on a bond. Sometimes called the stated rate. |
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Term
| Current maturity of long-term debt |
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Definition
| Principal payments on long-term debt that are scheduled to be paid within one year of the balance sheet date. |
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Term
| Debenture bonds or debentures |
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Definition
| Bonds secured by the general credit of the issuer but not secured by specific assets. |
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Term
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Definition
| An account with a credit balance that will be recognized as a revenue in a future period. |
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Term
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Definition
| A long-term liability that arises because of temporary differences between when an item is recognized for book and tax purposes (principally depreciation expense) |
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Term
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Definition
| a loan on which interest is paid at the beginning of the loan period. |
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Term
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Definition
| The principal amount of a bond. |
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Term
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Definition
| Federal Insurance Contribution Act tax used to finance federal programs for oldage and disability benefits (social security) and health insurance (Medicare). |
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Term
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Definition
| The use of debt that causes a difference between return on investment and return on equity. (with a fixed interest rate) |
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Term
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Definition
| The total earnings of an employee for a payroll period |
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Term
| Interest calculation-discount basis |
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Definition
| Interest calculation in which the interest (discount) is subtracted from the principal to determine the amount of money (proceeds) made available to the borrower. Only the principal is repaid at the maturity date because the interest is,in effect, prepaid. |
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Term
| Interest Calculation-Straight basis |
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Definition
| Interest calculation in which the principal is the amount of money made available to the borrow. Principal and interest are normally repaid by the borrower at the maturity date, although interest may be paid on an interim baisis as well. |
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Term
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Definition
| A mathematical term to describe the process of interpreting and relating two factors from a (present value) table to approximate a thir factor not shown in the table. |
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Term
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Definition
| A liability that will be paid more than one year from the balance sheet date. |
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Term
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Definition
| The date when a loan is scheduled to be repaid. |
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Term
| Minority interest in subsidiaries |
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Definition
| An item that arises in the prepartion of consolidated financial statements when some subsidiaries are less than 100 percent owned by the parent company;sometimes called noncontrolling interest. |
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