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Overview x Financial Institutions and Services x clear all

A & M trust

Overview page. Subjects: Financial Institutions and Services — Accounting.

Abbreviation for accumulation and maintenance trust. See discretionary trust; *18–25 trust.

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A1

Overview page. Subjects: Financial Institutions and Services.

A description of property or a person that is in the best condition. In marine insurance, before a vessel can be insured, it has to be inspected to check its condition. If it is “maintained...

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ABMTN

Overview page. Subjects: Financial Institutions and Services — Accounting.

Abbreviation for asset-backed medium-term note.

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abnormal return

Overview page. Subjects: Financial Institutions and Services.

The return on an asset or security beyond that predicted by market movements alone (cf. alpha coefficient; specific risk; stock specific risk). See also anomaly; risk premium.

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absolute-rate swap

Overview page. Subjects: Financial Institutions and Services.

An interest-rate swap in which the fixed interest rate is expressed in terms of an absolute rate.

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ACA

Overview page. Subjects: Financial Institutions and Services.

Abbreviation for Associate of the Institute of Chartered Accountants.

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acceptance credit

Overview page. Subjects: Financial Institutions and Services.

A means of financing the sale of goods, particularly in international trade. It involves a commercial bank or merchant bank extending credit to a foreign importer, whom it deems...

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accepting house

Overview page. Subjects: Financial Institutions and Services.

An institution specializing in accepting or guaranteeing bills of exchange. A service fee is charged for guaranteeing payment, enabling the bill to be discounted at preferential rates on...

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Accepting Houses Committee

Overview page. Subjects: Financial Institutions and Services.

A committee representing the main accepting houses in the City of London. Members of the committee are eligible for finer discounts on bills bought by the Bank of England, although this...

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acceptor

Overview page. Subjects: Financial Institutions and Services.

The drawee of a bill of exchange after acceptance of the bill, i.e. the acceptor has accepted liability by signing the face of the bill.

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accommodation endorser

Overview page. Subjects: Financial Institutions and Services.

A person or a bank that endorses a loan to another party; for example, a parent company may endorse a bank loan to a subsidiary. The endorser becomes a guarantor and is secondarily liable...

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account

Overview page. Subjects: Financial Institutions and Services.

1 A statement of indebtedness from one person to another; an invoice. A provider of professional services or of goods may render an account to a client or customer. A solicitor...

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account day

Overview page. Subjects: Financial Institutions and Services.

Formerly, the day on which all transactions made during the previous account on the London Stock Exchange were settled. Since the account system was abandoned in 1996, transactions have to...

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account payee only

Overview page. Subjects: Financial Institutions and Services — Accounting.

Words printed between two vertical lines in the centre of a UK cheque that, in accordance with the Cheque Act 1992, make the cheque non-transferable. This is to avoid cheques being endorsed...

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account reconciliation

Overview page. Subjects: Financial Institutions and Services — Accounting.

1 A procedure for confirming that the balance in a chequebook matches the corresponding bank statement. This is normally done by preparing a bank reconciliation statement.

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accountability

Overview page. Subjects: Financial Institutions and Services — Accounting.

An obligation to give an account. For limited companies, it is assumed that the directors of the company are accountable to the shareholders and that this responsibility is discharged, in...

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accountant

Overview page. Subjects: Financial Institutions and Services — Accounting.

A person who has passed the accountancy examinations of one of the recognized accountancy bodies and completed the required work experience. Each of the bodies varies in the way they train...

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accounting concepts

Overview page. Subjects: Financial Institutions and Services — Accounting.

The basic theoretical ideas devised to support the activity of accounting. As accounting developed largely from a practical base, it has been argued that it lacks a theoretical framework....

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accounting period

Overview page. Subjects: Financial Institutions and Services.

The period of time covered by a set of accounts and/or the tax year. Also sometimes referred to as the financial or fiscal year (FY).

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accounting rate of return

Overview page. Subjects: Financial Institutions and Services — Accounting.

(ARR).

Method of evaluating the profitability of a project or firm based on accounting numbers (cf. discounted cash flow; internal rate of return; net present value). It is the...

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