The currency abbreviation or currency symbol for the Korean won (KRW), the former currency for Korea. The won was made up of 100 chon and is often presented with a symbol that looks like the capital letter W with two horizontal dashes through the center. No banknotes denominated in won were ever issued. |||The won was first seen in 1902, replacing the yang. It appeared in the form of coins of various denominations which were equal to the Japanese yen. The Japanese yen along with the Korean yen replaced the won in 1910.
A retail store that occupies an enormous amount of physical space and offers a variety of products to its customers. These stores achieve economies of scale by focusing on large sales volumes. Because volume is high, the profit margin for each product can be lowered, which results in very competitively priced goods. The term "big-box" is derived from the store's physical appearance. Located in large-scale buildings of more than 50,000 square feet, the store is usually plainly designed and often resembles a large box. Wal-mart, Best Buy and Ikea are examples of big-box retailers.
A former organization under the Consultative Committee of Accountancy Bodies (CCAB) in the United Kingdom. The Accounting Standards Committee (ASC) duties included developing standards for financial reporting and accounting, recording these standards and communicating them through press releases and publications. It existed between 1976 and 1990 when its duties were assumed by the Accounting Standards Board (ASB). The committee was preceded by the Accounting Standards Steering Committee (ASSC). |||Accounting scandals in the late 1960s and early 1970s prompted the formation of the Accounting Standards Committee to issue accounting standards. In 1990, the Accounting Standards Board took over its responsibilities, which was then replaced by the International Accounting Standards Board (IASB) in 2001. The IASB issues accounting standards within the United Kingdom and collaborates with other countries' accounting standard-setters.
A statistical theory of oil production that states that the rate of extraction from a particular region follows a bell shaped curve. Initially, while there are minimum drilling operations the rate of production is limited. However, as infrastructure increases and larger portion of land are explored, resource production approaches peak production. Eventually, as the oil becomes depleted, extraction rates begin to slow down. The Hubbert curve characterizes the life cycle of a drilling operation. The predictions presented by the Hubbert Curve satisfy statistical constraints and are intuitively comprehensive. Technological improvements or estimated proven reserve changes realized during the production process can alter the shape of the curve.
The currency symbol or currency abbreviation for the North Korean won (KPW), the currency for North Korea. The won is divided into 100 chon and is often presented with the symbol (W). The word "won" is a hybrid of the Chinese word "yuan" and Japanese "yen". |||The won was first seen in 1947, replacing the previous Korean yen. It underwent a 100-to-1 revaluation in 1959. The North Korean government abandoned the set exchange rate with the U.S. dollar in 2001, and the real exchange rate has dropped precipitously since then.
A slang term sometimes used to refer to International Business Machines Corporation (IBM). According to the IBM website, the term did not originate from within the company. Rather, the term first appeared in the media in the 1980s. The company site speculates that the term may have been derived from the blue user manuals that came with certain IBM products. Another theory is that the term simply refers to the company's blue logo. According to Fortune, IBM was the 20th largest firm in the United States in 2010, during which the company had approximately 400,000 employees. The company is also noted for its distinctive culture, including a formal dress code that was only relaxed in the early 1990s. Despite increasing competition, the company remains a major player in many areas of computing and technology consulting.
ARR provides a quick estimate of a project's worth over its useful life. ARR is derived by finding profits before taxes and interest. |||ARR is an accounting method used for purposes of comparison. The major drawbacks of ARR are that it uses profit rather than cashflows, and it does not account for the time value of money.
An index composed of companies with high betas trading on the NYSE. Watch: Understanding Beta Beta is a measure of a stock's volatility in relation to the market as a whole, and the high beta index takes account of those stocks considered to have higher volatilities.
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