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275 Cards in this Set
- Front
- Back
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Accounting |
Process of measuring, interpreting, and communicating financial information to enable people inside and outside the firm to make informed decisions. |
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Accounting Cycle |
Set of activities involved in converting information and individual transactions into financial statements. |
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Accounting Equation/Accounting Identity |
Formula that states Assets must equal Liabilities plus Owners' Equity.
Assets=Liabilities + Owners' Equity |
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Accrual Accounting |
Accounting method that records revenues and expenses when they occur, not necessarily when cash actually changes hands. |
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Advertising |
Paid non-personal communication, usually targeted at large numbers of potential buyers |
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Affinity Program |
Marketing effort sponsored by an organization that solicits involvement by individuals who share common interests and activities |
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Application Service Provider |
outside supplier that provides both the computers and the application support for managing an information system |
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Asset |
anything of value owned or leased by a company |
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Balance Sheet |
statement of a firm's financial position on a particular date |
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Balanced Budget |
situation in which total revenues raised by taxes and fees equal total proposed government spending for the year |
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Benchmarking |
process of determining how well other companies perform business functions or tasks |
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Botnet |
a network of PC's that have been infected with one or more data stealing viruses |
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Brand |
name, term, sign, symbol, design, or some combination that identifies the products of one firm and differentiates them from competitors' offerings |
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Brand Equity |
added value that a respected and successful name gives to a product |
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Brand Name |
part of the brand consisting of words or letters included in a name used to identify and distinguish the firm's offerings from those of competitors |
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Break-Even Analysis |
pricing related technique used to determine the minimum sales volume a product must generate at a certain price level to cover all costs |
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Budget |
organization's plan for how it will raise and spend money during a given period of time |
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Budget |
a planning and controlling tool that reflects the firm's expected sales revenue, operating expenses, and cash receipts and outlays |
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Budget Deficit |
situation in which the government spends more than the amount of money it raises through taxes |
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Budget Surplus |
excess funding that occurs when government spends less than the amount of funds raised through taxes and fees |
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Business (B2B) Product |
good or service purchased to be used, either directly or indirectly, in the production of other goods for resale |
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Business Intelligence |
activities and technologies for gathering, storing, and analyzing data to make better competitive decisions |
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Capital Structure |
mix of a firm's debt and equity capital |
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Capitalism |
economic system that rewards firms for their ability to perceive and serve the needs and demands of consumers; also called Private Enterprise System |
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Private Enterprise System |
economic system that rewards firms for their ability to perceive and serve the needs and demands of consumers; also called Capitalism |
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Category Advisor |
vendor that is designated by the business customer as the major supplier to assume responsibility for dealing with all the other vendors for a project and presenting the entire package to the business buyer |
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Cause Advertising |
form of institutional advertising that promotes a specific viewpoint on a public issue as a way to influence public opinion and the legislative process |
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Cause Marketing |
marketing that promotes a cause or social issue, such as preventing child abuse, anti-littering efforts, and stop smoking campaigns |
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Centralization |
decision making based at the top of the management hierarchy |
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Chain of Command |
set of relationships that indicates who directs which activities and who reports to whom |
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Chief Information Officer (CIO) |
executive responsible for managing a firm's information system and related computer technologies |
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Cloud Computing |
powerful servers store applications software and databases for users to access the software and databases via the Web using anything from a PC to a smart phone |
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Cobranding |
cooperative arrangement in which two or more businesses team up to closely link their names on a single product
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Comarketing |
cooperative arrangement in which two businesses jointly market each other's products |
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Committee Organization |
organizational structure that places authority and responsibility jointly in the hands of a group of individuals rather than a single manager |
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Common Stock |
basic form of corporate ownership |
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Communism |
economic system in which all property would be shared equally by the people of a community under the direction of a strong central government |
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Competitive Differentiation |
unique combination of organizational abilities, products, and approaches that sets a company apart from competitors in the minds of customers |
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Competitive Pricing-Strategy |
strategy that tries to reduce the emphasis on price competition by matching other firms' prices and concentrating their own marketing efforts on the product, distribution, and promotional elements of the marketing mix |
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Computer-Aided Design (CAD) |
process that allows engineers to design components as well as entire products on computer screens faster and with fewer mistakes than they could achieve working with traditional drafting systems |
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Computer-Aided Manufacturing (CAM) |
computer tools to analyze CAD output and enable a manufacturer to analyze the steps that a machine must take to produce a needed product or part |
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Computer-Based Information Systems |
information systems that rely on computer and related technologies to store information electronically in an organized, accessible manner |
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Computer-Integrated Manufacturing (CIM) |
production system in which computers help workers design products, control machines, handle materials, and control the production function in an integrated fashion |
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Consumer (B2C) Product |
good or service that is purchased by end users |
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Consumer Behavior |
actions of ultimate consumers directly involved in obtaining, consuming, and disposing of products and the decision processes that precede and follow these actions |
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Consumer Price Index (CPI) |
measurement of the monthly average change in prices of goods and services |
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Controlling |
function of evaluating an organization's performance against its objectives |
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Cooperative Advertising |
allowances provided by marketers in which they share the cost of local advertising of their firm's product or product line with channel partners |
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Core Inflation Rate |
inflation rate of an economy after energy and food prices are removed |
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Cost-Based Pricing |
formulas that calculate total costs per unit and then add markups to cover overhead costs and generate profits |
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Creative Selling |
persuasive type of promotional presentation |
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Critical Path |
sequence of operations that requires the longest time for completion |
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Cyclical Unemployment |
people who are out of work because of a cyclical contraction in the economy |
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Data |
raw facts and figures that may or may not be relevant to a business decision |
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Data Mining |
computer searches of customer data to detect patterns and relationships |
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Data Warehouse |
customer database that allows managers to combine data from several different organizational functions |
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Database |
centralized integrated collection of data resources |
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Decentralization |
decision makeup based at lower levels of the organization |
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Decision Support System (DSS) |
gives direct support to business people during the decision-making process |
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Deflation |
opposite of inflation, occurs when prices continue to fall |
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Delegation |
managerial process of assigning work to employees |
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Demand |
willingness and ability of buyers to purchase goods and services |
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Demand Curve |
graph of the amount of a product that buyers will purchase at different prices |
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Demographic Segmentation |
distinguishes markets on the basis of various demographic or socioeconomic characteristics |
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Departmentalization |
process of dividing work activities into units within the organization |
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Directing |
guiding and motivating employees to accomplish organizational obbjectives |
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Distribution Channels |
path that products-and legal ownership of them-follow from producer to consumers or business user |
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Distribution Strategy |
deals with the marketing activities and institutions involved in getting the right good or service to the firm's customers |
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Double-Entry Bookkeeping |
process by which accounting transactions are recorded; each transaction must have an offsetting transaction |
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Economics |
social science that analyzes the choices people and governments make in allocating scarce resources |
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End-Use Segmentation |
marketing strategy that focuses on the precise way a B2B purchaser will use a product |
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Environmental Impact Study |
analyzes how a proposed plant would affect the quality of life in the surrounding area |
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Equilibrium Price |
prevailing market price at which you can buy an item |
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Event Marketing |
marketing or sponsoring short-term events such as athletic competitions and cultural and charitable performances |
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Everyday Low Pricing (EDLP) |
a strategy devoted to maintaining continuous low prices rather than relying on short-term price-cutting tactics such as cents-off coupons, rebates, and special sales |
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Exchange Process |
activity in which two or more parties give something of value to each other to satisfy perceived needs |
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Executive Support System (ESS) |
lets senior executives access the firm's primary databases, often by touching the computer screen, pointing and clicking a mouse, or using voice recognition |
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Expansionary Monetary Policy |
government actions to increase the money supply in an effort to cut the cost of borrowing, which encourages business decision makers to make new investments, in turn stimulating employment and economic growth |
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Expert System |
computer program that imitates human thinking through complicated sets of if-then rules |
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Federal Deposit Insurance Corporation (FDIC) |
federal agency that insures deposits at commercial and savings banks |
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Federal Reserve System (Fed) |
central bank of the United States |
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Finance |
planning, obtaining, and managing a company's funds to accomplish its objectives as effectively and efficiently as possible |
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Financial Accounting Standards Board (FASB) |
an organization responsible for evaluating, setting, or modifying GAAP in the United States |
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Financial Institutions |
intermediary between savers and borrowers, collecting funds from savers and then lending the funds to individuals, businesses, and governments |
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Financial Manager |
executive who develops and implements the firm's financial plan and determines the most appropriate sources and uses of funds |
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Financial Markets |
market in which securities are issued and traded |
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Financial Plan |
document that specifies the funds needed by a firm for a period of time, the timing of inflows and outflows, and the most appropriate sources and uses of funds |
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Financial System |
process by which money flows from savers to users |
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Firewalls |
limit data transfers to certain locations and log system use so that managers can identify attempts to log on with invalid passwords and other threats to a system's security |
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Fiscal Policy |
government spending and taxation decisions designed to control inflation, reduce unemployment, improve the general welfare of citizens, and encourage economic growth |
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Flexible Manufacturing System (FMS) |
production facility that workers can quickly modify to manufacture different products |
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Foreign Corrupt Practices Act |
federal law that prohibits U.S. citizens and companies from bribing foreign officials in order to win or continue business |
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Frequency Marketing |
marketing initiative that rewards frequent purchases with cash, rebates, merchandise, or other premiums |
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Frictional Unemployment |
applies to members of the workforce who are temporarily not working but are looking for jobs; college students |
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Generally Accepted Accounting Principles (GAAP) |
principles that encompass the conventions, rules, and procedures for determining acceptable accounting and financial reporting practices at a particular time |
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Geographical Segmentation |
dividing an overall market into homogeneous groups on the basis of their locations |
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Grid Computing |
consists of network of smaller computers running special software |
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Gross Domestic Product (GDP) |
sum of all goods and services produced within a country's boundaries during a specific time period, such as a year |
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Guerrilla Marketing |
innovative, low-cost marketing efforts designed to get consumers' attention in unusual ways |
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Hardware |
all tangible elements of a computer system |
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Hyperinflation |
economic situation characterized by soaring prices |
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Income Statement |
financial record summarizing a firm's financial performance in terms of revenues, expenses, and profits over a given time period, say, a quarter or a year |
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Inflation |
economic situation characterized by rising prices caused by a combination of excess consumer demand and increases in the costs of raw materials, component parts, human resources, and other factors of production |
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Infomercial |
form of broadcast direct marketing; minute programs that resemble regular TV programs, but are devoted to selling goods or services |
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Information |
knowledge gained from processing data |
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Information System |
organized method for collecting, storing, and communicating past, present, and projected information on internal operations and external intelligence
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Insider Trading |
use of material nonpublic information about a company to make investment profits |
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Institutional Advertising |
involves messages that promote concepts, ideas, philosophies, or goodwill for industries, companies, organizations, or government entities |
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Integrated Marketing Communications (IMC) |
coordination of all promotional activities media advertising,direct mail, personal selling, sales promotion, and public relations-to produce a unified, customer focused promotional strategy |
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International Accounting Standards Board (IASB) |
organization established in 1973 to promote worldwide consistency in financial reporting practices |
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International Financial Reporting Standards (IFRS) |
standards and interpretations adopted by the IASB |
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Intranet |
computer network that is similar to the internet but limits access to authorized users |
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Inventory Control |
function requiring production and operations managers to balance the need to keep stock on hand to meet demand against the costs of carrying inventory |
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Just-In-Time (JIT) System |
broad management philosophy that reaches beyond the narrow activity of inventory control to influence the entire system of production and operation management |
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LEED (Leadership in Environmental Engineering and Design) |
voluntary certification program administered by the U.S. Green Building Council, aimed at promoting the most sustainable construction processes available |
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Leverage |
increasing the rate of return on funds invested by borrowing funds |
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Liability |
anything owed to creditors-the claims of a firm's creditors |
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Lifetime Value of a Customer |
revenues and intangible benefits (referrals and customer feedback) from a customer over the life of the relationship, minus the amount the company must spend to acquire and serve that customer |
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Local Area Networks (LAN)s |
computer networks that connect machines within limited areas, such as a building or several nearby buildings |
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Logistics |
process of coordinating the flow of goods, services, and information among members of the supply chain |
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Macroeconomics |
study of a nation's overall economic issues, such as how an economy maintains and allocates resources and how a government's policies affect the standards of living of its citizens |
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Make, Buy, or Lease Decision |
choosing whether to manufacture a needed product or component in house, purchase it from an outside supplier, or lease it |
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Malware |
any malicious software program designed to infect computer systems |
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Management |
process of achieving organizational objectives through people and other resources |
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Management Information System (MIS) |
informative system that is designed to produce reports for managers and other personnel |
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Management Support Sysems |
information systems that are designed to provide support for effective decision making |
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Market Segmentation |
process of dividing a total market into several relatively homogeneous groups |
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Marketing |
organizational function and set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders |
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Marketing Concept |
company wide consumer orientation to promote long-run sucess |
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Marketing Mix |
blending the four elements of marketing strategy-product, distribution, promotion, and pricing-to satisfy chosen customer segments |
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Marketing Research |
collecting and evaluating information to support marketing decision making |
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Mass Production |
system for manufacturing products in large quantities through effective combinations of employees with specialized skills, mechanization, and standardization |
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Materials Requirement Planning (MRP) |
computer-based production planning system that lets a firm ensure that it has all the parts and materials it needs to produce its output at the right time and place and in the right amounts |
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Microeconomics |
study of small economic units, such as individual consumers, families, and businesses |
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Middle Management |
second tier in the management pyramid that focuses on specific operations within the organizations |
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Mission Statement |
written explanation of an organization's business intentions and aims |
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Missionary Selling |
indirect form of selling in which the representative promotes goodwill for a company or provides technical or operational assistance to the customer |
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Mixed Market Economy |
economic system that draws from both types of economies, to different degrees |
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Monetary Policy |
government actions to increase or decrease the money supply and change banking requirements and interest rates to influence bankers' willingness to make loans |
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Monopolistic Competition |
market structure in which large numbers of buyers and sellers exchange heterogeneous products so each participant has some control over price |
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Monopoly |
market situation in which a single seller dominates trade in a good or service for which buyers can find no close substitutes |
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National Debt |
money owed by government to individuals, businesses, and government agencies who purchase Treasury bills, Treasury notes, and Treasury bonds sold to cover expenditures
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Non-Personal Selling |
consists of advertising, sales promotion, direct marketing, and public relations |
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Objectives |
guideposts by which managers define the organization's desired performance in such areas as new product development, sales, customer service, growth, environmental and social responsibility, and employee satisfaction |
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Oligopoly |
market structure in which relatively few sellers compete and high start-up costs form barriers to keep out new competitors |
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On-Demand Computing |
firms essentially rent the software time from application providers and pay only for their usage of the software |
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Operational Support Systems |
information systems designed to produce a variety of information on an organization's activities for both internal and external users |
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Order Processing |
form of selling, mostly at the wholesale and retail levels, that involves identifying customer needs, pointing them out to customers, and completing orders |
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Organization |
structured group of people working together to achieve common goals |
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Organization Chart |
visual representation of a firm's structure that illustrates job positions and functions |
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Organization Marketing |
marketing strategy that influences consumers to accept the goals of, receive the services of, or contribute in some way to an organization |
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Organizing |
process of blending human and material resources through a formal structure of tasks and authority; arranging work, dividing tasks among employees, and coordinating them to ensure implementation of plans and accomplishment of objectives |
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Owners' Equity |
the owner's initial investment in the business plus profits that were not paid out to the owners over time in the form of cash dividends |
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Ownership Utility |
orderly transfer of goods and services from the seller to the buyer; also called possession utility |
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Possession Utility |
orderly transfer of goods and services from the seller to the buyer; also called ownership utility |
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Penetration Pricing |
strategy that sets a low price as a major marketing weapon |
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Perpetual Inventory System |
system that continuously monitors the amount and location of a company's stocks |
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Person Marketing |
use of efforts designed to attract the attention, interest, and preference of a target market toward person |
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Personal Selling |
the most basic form of promotion: a direct person-to-person promotional presentation to a potential buyer |
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PERT (Program Evaluation and Review Technique) Charts |
charts that seek to minimize delays by coordinating all aspects of the production process |
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Physical Distribution |
actual movement of products from producer to consumers or business users |
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Place Marketing |
attempt to attract people to a particular area, such as a city, state, or nation |
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Place Utility |
availability of a product in a location convenient for customers |
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Planned Economy |
economic system in which government controls determine business ownership, profits, and resource allocation to accomplish government goals rather than those set by individual firms |
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Planning |
process of anticipating future events and conditions and determining courses of action for achieving organizational objectives |
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Point-of-Purchase (POP) advertising |
displays or demonstrations that promote products when and where consumers buy them, such as in retail stores |
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Positioning |
form of promotion in which marketers attempt to establish their products in the minds of customers by communicating to buyers meaningful distinctions about the attributes, price, quality, or use of a good or service |
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Prestige Pricing |
strategies that establish relatively high prices to develop and maintain an image of quality and exclusiveness |
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Price |
exchange value of a good or service |
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Primary Markets |
financial market in which firms and governments issue securities and sell them initially to the general public |
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Privatization |
conversion of government-owned and operated companies into privately held businesses |
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Process Control Systems |
operational support system to monitor and control physical processes |
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Product |
bundle of physical, service, and symbolic characteristics designed to satisfy consumer wants |
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Product Advertising |
consists of messages designed to sell a particular good or service |
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Product Life Cycle |
four basic stages-introduction, growth, maturity, and decline-through which a successful product progresses |
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Product Line |
group of related products marked by physical similarities or intended for a similar market |
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Volume Objectives |
objects based on pricing decisions on market share, the percentage of a market controlled by a certain company or product |
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Wholesaler |
distribution channel member that sells primarily to retailers, other wholesalers, or business users |
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Wide Area Networks (WAN) |
tie larger geographical regions together by using telephone lines and microwave and satellite transmission |
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WiFi |
wireless network that connects various devices and allows them to communicate with one another through radio waves |
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Worm |
small piece of software that exploits a security hole in a network to replicate itself |
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Long-Term Debt to Equity Ratio |
Long-Term Debt/Owner's Equity |
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Debt Ratio |
Total Liabilities/Total Assets |
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Leverage Ratios |
Debt Ratio and Long-Term Debt to Equity Ratio |
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Return on Equity |
Net Income/Average Equity |
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Net Profit Margin |
Net Income/Sales |
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Gross Profit Margin |
Gross Profit/Sales |
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Profitability Ratios |
Gross Profit Margin, Net Profit Margin and Return on Equity |
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Total Asset Turnover Ratio |
Sales/Average Total Assets |
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Receivables Turnover Ratio |
Credit Sales/Average Accounts Receivable |
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Inventory Turnover Ratio |
Cost of Goods Sold/Average Inventory |
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Activity Ratios |
Inventory Turnover Ratio, Total Asset Turnover Ratio and Receivables Turnover Ratio |
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Liquidity Ratio |
Current Assets/Current Liabilities 2:1=Satisfactory |
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Acid Test Ratio |
Current Assets - Inventory/Current Liabilities 1:1= Satisfactory |
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Product Mix |
assortment of product lines and individual goods and services that a firm offers to consumers and business users |
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Product Placement |
form of promotion in which marketers pay placement fees to have their products showcased in various media, ranging from newspapers and magazines to television and movies |
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Production |
use of resources, such as people and machinery, to convert materials into finished goods and services |
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Production and Operations Management |
oversee the production process by managing people and machinery in converting materials and resources into finished goods and services |
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Production Control |
creates a well-defined set of procedures for coordinating people, materials, and machinery to provide maximum production efficiency |
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Productivity |
relationship between the number of units produced and the number of human and other production inputs necessary to produce them |
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Product-Related Segmentation |
dividing consumer markets into groups based on benefits sought by buyers, usage rates and loyalty levels |
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Profitability Objectives |
common objectives included in the strategic plans of most firms |
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Promotion |
function of informing, persuading, and influencing a purchase decision |
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Promotional Mix |
combination of personal and non-personal selling components designed to meet the needs of a firm's target customers and effectively and efficiently communicate its message to them |
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Psychographic Segmentation |
dividing consumer markets into groups with similar attitudes, values, and lifestyles |
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Public Accountant |
accountant who provides accounting services to individuals or business firms for a fee |
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Public Relations |
organization's communications and relationships with various public audiences |
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Publicity |
non-personal stimulation of demand for good, service, place, idea, event, person, or organization by unpaid placement of information in print or broadcast media
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Pulling Strategy |
promoting a product by generating consumer demand for it, primarily through advertising and sales promotion appeals pure competition market structure, in which large numbers of buyers and sellers exchange homogeneous products and no single participant has a significant influence on price |
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Pushing Strategy |
personal selling to market an item to wholesalers and retailers in a company's distribution channels |
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Quality |
good or service that is free of deficiencies |
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Quality Control |
measuring output against established quality standards |
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Recession |
cyclical economic contraction that lasts for 6 months or longer |
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Regulated Monopoly |
market situation in which local, state, or federal government grants exclusive rights in a certain market to a single firm |
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Relationship Marketing |
developing and maintaining long-term, cost effective exchange relationships with partners |
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Restrictive Monetary Policy |
government actions reduce the money supply to curb rising prices, overexpansion, and concerns about overly, rapid economic growth |
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Retailer |
distribution channel members that sell goods and services to individuals for their own use rather than for resale |
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Risk |
return trade-off process of maximizing the wealth of a firm's shareholders by striking the optimal balance between risk and return |
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Robot |
reprogrammable machine capable of performing numerous tasks that require manipulation of materials and tools |
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Routing Phase |
phase of production control that determines the sequence of work throughout the facility and specifies who will perform each aspect of production at what location |
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Sales Promotion |
consists of forms of promotion such as coupons, product samples, and rebates that support advertising and personal selling |
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Scheduling Phase |
development of timetables that specify how long each operation in the production process takes and when workers should perform it |
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Seasonal Unemployment |
joblessness of workers in a seasonal industry |
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Secondary Market |
collection of financial markets in which previously issued securities are traded among investors |
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Securities |
financial instruments that represent obligations on the part of the issuers to provide the purchasers with expected stated returns on the funds invested or loaned |
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Server |
the heart of a midrange computer network |
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Skimming Pricing |
strategy that sets an intentionally high price relative to the prices of competing products |
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Socialism |
economic system characterized by government ownership and operation of major industries such as communications |
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Software |
all programs, routines, and computer languages that control a computer and tell it how to operate |
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Span of Management |
number of subordinates a manager can supervise effectively |
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Specialty Advertising |
promotional items that prominently display a firm's name, logo, or business slogan |
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Sponsorship |
involves providing funds for sporting or cultural event in exchange for a direct association with the event |
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Spyware |
software that secretly gathers user information through the user's internet connection without his or her knowledge, usually for advertising purposes |
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Statement of Cash Flows |
statement showing the sources and uses of cash during period of time |
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Statement of Owners' Equity |
record of the change in the owners' equity from the end of one fiscal period to the end of the next |
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Stock Markets(Exchanges) |
market in which shares of stock are bought and sold by investors |
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Strategic Planning |
process of determining the primary objectives of an organization and then acting and allocating resources to achieve those objectives |
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Structural Unemployment |
people who remain unemployed for long periods of time, often with little hope of finding new jobs like their old ones |
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Supervisory Management |
first-line management; includes positions such as supervisor, line manager, and group leader; responsible for assigning non-managerial employees to specific jobs and evaluating their performance every day |
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Supply |
willingness and ability of sellers to provide goods and services |
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Supply Chain |
complete sequence of suppliers that contribute to creating a good or service and delivering it to business users and final consumers |
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Supply Curve |
graph that shows the relationship between different prices and the quantities that sellers will offer for sale, regardless of demand |
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SWOT Analysis |
SWOT is an acronym for strengths, weaknesses, opportunities, and threats. By systematically evaluating all four of these factors, a firm can then develop the best strategies for gaining a competitive advantage |
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Target Market |
group of people toward whom an organization markets its goods, services, or ideas with a strategy designed to satisfy their specific needs and preferences |
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Telemarketing |
personal selling conducted entirely by telephone, which provides a firm's marketers with a high return on their expenditures, an immediate response, and an opportunity for personalized two-way conversation
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Test Marketing |
introduction of a new product supported by a complete marketing campaign to a selected city or TV coverage area |
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Time Utility |
availability of a good or service when customers want to purchase it |
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Top Management |
managers at the highest level of the management pyramid who devote most of their time to developing long-range plans for their organizations |
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Trade Promotion |
sales promotion geared to marketing intermediaries rather than to final consumers |
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Trademark |
brand that has been given legal protection |
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Transaction Processing System |
operational support system to record and process data from business transactions |
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Trojan Horse |
program that claims to do one thing but in reality does something else, usually something malicious |
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Unemployment Rate |
percentage of the total workforce actively seeking work but are currently unemployed |
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Utility |
power of a good or service to satisfy a want or need |
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Vendor-Managed Inventory |
process in which the producer and the retailer agree that the producer (or the wholesaler) will determine how much of a product a buyer needs and automatically ship new supplies when needed |
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Venture Capitalist |
person or entity that raises money from wealthy individuals and institutional investors and invests the funds in promising funds |
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Virtual Private Networks (VPNs) |
Secure connections between two points on the Internet |
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Viruses |
programs that secretly attach themselves to other programs (called hosts) and change them or destroy data |
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Vision |
perception of marketplace needs and ways a firm can satisfy them |
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VoIP |
alternative to traditional telecommunication services provided by companies such as Verizon and Qwest |
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Organizing Structure Step 1 |
determine specific work activities necessary to implement plans and achieve objectives |
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Organizing Structure Step 2 |
group activities into a logical pattern or structure |
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Organizing Structure Step 3 |
assign activities to specific positions and people, and allocate resources |
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Organizing Structure Step 4 |
coordinate activities of different groups and individuals |
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Organizing Structure Step 5 |
evaluate results of the organizing process |
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4 Basic Requirements to Accounting Rules |
consistency, relevance, reliability and comparability |
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Short Term Assets |
Cash, marketable securities, accounts receivable and inventory |
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Hedge Funds |
private investment companies open only to qualified large investors
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Commercial Paper |
loans from $100,00 and up, which mature in 1 to 270 days |
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Leverage Ratio |
measures the extent to which a firm relies on debt financing in its operations |
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Activity Ratio |
measures the effectiveness of the firm's use of its resources |
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Liquidity Ratio |
used to measure a firm's ability to meet its short-term obligations |
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Profitability Ratio |
used to measure the "bottom line" financial performance of a firm |
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Journal |
chronological record of day-to-day transactions |
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Ledger Accounts |
separate accounts to which transactions are posted |
