24 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
activity-based costing (ABC)
Business administration; Financial management
A method for costing products, used in accounting since the late 1980s, which links the overall cost of a product to the total cost of the various activities within a business organization that ...
forecasting
Business administration; Financial management
A series of techniques for trying to predict the future on the basis of known data, usually with regard to the economy or some aspect of it like sales, demand or the need for manpower planning. ...
payment by results (PBR)
Business administration; Financial management
A system of remuneration in which pay is linked to productivity. See also piecework and work study.
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-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 ...
profit center
Business administration; Financial management
A unit of organization 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 ...
cost center
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 ...
