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Title |
Teaser |
|---|---|
| VALIDATE |
1. attest to the correctness and reliability of a financial item. A validity review or test is... |
| VALIDITY TEST |
audit procedure that ascertains whether a recorded financial statement item is accurately stated... |
| VALUATION ACCOUNT |
item offset against or added to the gross amount of an account to arrive at a net balance.... |
| VALUE |
1. highly subjective term, usually an expression of monetary worth applied to a particular asset... |
| VALUE ADDED |
difference, at each stage of production, between the cost of a product and the cost of all the... |
| VALUE ANALYSIS |
process of trying to reduce product costs by substituting less costly materials, redesigning... |
| VALUE CHAIN |
linked set of all value-creating processes or activities that convert basic input materials into... |
| VALUE CHAIN COSTING |
ACTIVITY-BASED COST model that contains all of the activities in the VALUE-CHAIN (design,... |
| VALUE ENGINEERING |
means of reaching targeted cost levels. It is a systematic approach to assessing all aspects of... |
| VALUE IN USE |
discounted value of net cash receipts to be obtained from the corporate asset. The present value... |
| VALUE-ADDED ACTIVITY |
activity that increases the worth of a product or service and for which the customer is willing... |
| VALUE-ADDED NETWORK (VAN) |
company providing a private network allowing for "store and forward" capabilities... |
| VALUE-ADDED TAX (VAT) |
indirect percentage tax levied on products or services at various stages of production and... |
| VALUE-ADDING COST |
cost of an operating activity that increases the market value of a product or service. |
| VARIABLE (FACTORY) OVERHEAD |
portion of total factory over-head that varies directly with changes in volume. Examples of... |
| VARIABLE ANNUITY |
one whose periodic payments are dependent on some undetermined or uncertain outcome such as the... |
| VARIABLE COST PERCENTAGE |
figure that equals total variable costs divided by total sales. Labor-intensive companies have a... |
| VARIABLE COST RATIO |
relationship showing variable costs as a percentage of sales. It is also 1 minus the... |
| VARIABLE COSTS |
expenses that vary in total in direct proportion to changes in activities such as machine-hours... |
| VARIABLE OVERHEAD EFFICIENCY VARIANCE |
difference in actual and budgeted variable overhead costs that results from... |
| VARIABLE OVERHEAD SPENDING VARIANCE |
difference in actual and budgeted variable overhead costs that results from price changes in... |
| VARIABLE RATE LOAN |
loan carrying an interest rate that may move up or down, depending on the movements of an... |
| VARIABLE-COST-PLUS PRICING |
method in which the unit variable cost is defined as the cost base. Fixed costs are provided for... |
| VARIABLES SAMPLING |
sampling designed to predict the value of a given variable for a population. The variables under... |
| VARIANCE |
1. in statistics, measure of a dispersion of probability distribution. It is the... |
| VENTURE CAPITAL |
financing source for new businesses or turnaround ventures that usually combine much risk with... |
| VERIFIABLE |
confirming or substantiating an item. The term refers to the ability of accountants to ensure... |
| VERIFICATION |
process of validating a statement, item, or account. The accountant seeks and examines evidence... |
| VERTICAL ANALYSIS |
financial statement item that is used as a base value. All other accounts on the financial... |
| VERTICAL MERGER |
combination of a parent firm and the suppliers of its raw materials or purchasers of its... |
| VESTED |
term indicating rights to pension benefits that are paid up and therefore not contingent upon... |
| VIDEOTEXT |
information that passes via telephone lines between a computer and a home TV screen. It is an... |
| VOLUME (PRODUCTION VOLUME) VARIANCE |
amount of under- or overapplied fixed factory overhead. It is the difference between budgeted... |
| VOLUNTARY HEALTH AND WELFARE ORGANIZATION |
entity providing health-related services. It is a not-for-profit organization that follows... |
| VOLUNTARY HOSPITAL |
one providing patient services including surgery and testing. It follows not-for-profit... |
| VOUCHER |
form used in an internal control system to contain and verify all information about a bill to be... |
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