19 Terms
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Financial management
The process of managing financial resources, including management decisions concerning accounting and financial reporting, forecasting, and budgeting.
Industry: Business administration
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Financial management
Planning, programming and budgeting system
Business administration; Financial management
A widely used technique of accounting which, like zero-based budgeting, originated in the United States. It usually follows five steps: (1) set overall objectives for the organization; (2) compare ...
Spreadsheet
Business administration; Financial management
A technique, which originated in accounting, for displaying items in a wide series of columns (i.e. on a spread sheet of paper) so that calculations could be made by row or column as well as by item. ...
Profit centre
Business administration; Financial management
A unit of organisation which is treated as a separate entity for purposes of financial control, and which is allocated designated income targets that allow its profit to be calculated over a given ...
Profit-related pay (PRP)
Business administration; Financial management
A type of profit sharing for employees who used to have UK tax advantages if they took part of their earnings in this form. However, as PRP often did not follow the more volatile movements of company ...
Cost centre
Business administration; Financial management
A unit whose direct costs can be ascertained, and to which fixed costs can be allocated, in the pursuit of effective financial control. This unit may be a department, a place, a person or even a ...
Institutional investor
Business administration; Financial management
An organisation that invests in shares and other securities with funds obtained from a large number of individual savers; for example, a bank, insurance company or trade union.
Rate setting
Business administration; Financial management
An old-fashioned term for the process of setting piecework rates of pay for a job. The process is more often included now under the term work measurement.
