An accounting method used for inventory that follows the last in, first out model. Dollar value LIFO uses this approach with all figures in dollar amounts, rather than in inventory units. It provides a different view of the balance sheet than other accounting methods such as first in, first out (FIFO). If inflation and other economic factors (such as supply and demand) were not an issue, dollar-value and non-dollar-value accounting methods would have the same results. However, since costs do change over time, the dollar-value LIFO presents the data in a manner that shows an increased cost of goods sold (COGS) when prices are rising, and a resulting lower net income. When prices are decreasing, dollar-value LIFO will show a decreased COGS and a higher net income. Dollar value LIFO can help reduce a company's taxes (assuming prices are rising), but can also show a lower net income on shareholder reports.
The movement of high-level employees from public sector jobs to private sector jobs and vice versa. The idea is that there is a revolving door between the two sectors as many legislators and regulators become consultants for the industries they once regulated and some private industry heads receive government appointments that relate to their former private posts. Some half-hearted attempts have been made to close the revolving door, but most of these have simply meant a one- to two-year waiting period before a former public servant can work in the industry he or she was involved in. The argument for having a revolving door is that having specialists within private lobby groups and running public departments ensures a higher quality of information when making regulatory decisions. Opponents point to the many, many opportunities for conflicts of interest.
The cash generated from the operations of a company, generally defined as revenues less all operating expenses, but calculated through a series of adjustments to net income. The OCF can be found on the statement of cash flows.Also known as "cash flow provided by operations" or "cash flow from operating activities".One method of calculated OCF is: |||Operating cash flow is the cash that a company generates through running its business. It's arguably a better measure of a business's profits than earnings because a company can show positive net earnings (on the income statement) and still not be able to pay its debts. It's cash flow that pays the bills!You can also use OCF as a check on the quality of a company's earnings. If a firm reports record earnings but negative cash, it may be using aggressive accounting techniques.
A stock of commodity that has been inspected by qualified representatives and determined to be of basis grade. Taobiz explains Certificated Stock Stock of commodities that are certificated are also referred to as "certified stocks." They can be used as delivery against futures contracts and are normally kept at a holding facility until transfer. For grain, a certificated stock is known as "stocks in deliverable position" or deliverable stock.
An arrangement in Australia that eliminates the double taxation of dividends. Double taxation of dividends occurs when both a company and a shareholder pay tax on the same income. The company pays taxes on profits and subsequently distributes a dividend out of their after-tax profits. Shareholders must then pay tax on the dividend received. The tax imputations indicate to the government that the company issuing the dividend has already paid a portion of the tax due. The shareholder is able to reduce the tax paid on the dividend by the amount of the tax imputation credits.
An industry metric used to evaluate companies in the hotel and lodging industries. RevPOR is used in conjunction with, or in place of, the more standard revenue per available room (RevPAR) statistic. RevPAR is calculated by taking the RevPOR value and multiplying it by the occupancy rate. RevPOR may also be expressed as "total RevPOR", which includes not only the room rate itself, but also any extra services such as room service, laundry services and in-room movie viewing, among others. For many hotel operators, the total revenue received per room can be much more than the per-day "boilerplate" rate, and is a more full expression of how much the company is receiving per customer. RevPOR is used by analysts to determine the total revenue and profit potential of a company; occupancy rates will rise and fall with the general and local economy, but RevPOR is a metric that stands independent of how full the hotel is at any point in time.
The buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system. Purchases inject money into the banking system and stimulate growth while sales of securities do the opposite. |||Open market operations are the principal tools of monetary policy. (The discount rate and reserve requirements are also used.) The U.S. Federal Reserve's goal in using this technique is to adjust the federal funds rate--the rate at which banks borrow reserves from each other.
A performance metric in the hotel industry, which is calculated by multiplying a hotel's average daily room rate (ADR) by its occupancy rate. It may also be calculated by dividing a hotel's total guestroom revenue by the room count and the number of days in the period being measured. Keep in mind that RevPAR does not take into account revenue from other hotel services, such as restaurants, spas, golf courses, marinas, casinos etc.
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