2023年-财务缩略语.docx
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1、Financial GlossaryAFifth letter of a Nasdaqstock symbol specifying Class A shares.AAIISee: American Association of Individual InvestorsABOSee: Accumulated BeneBt ObligationABSSee: Automated Bond SystemACATSee: Automated Customer Account TransferACESSee: Advance Computerized Execution SystemACHSee: A
2、utomated Clearing HouseACRSSee: Accelerated cost recovery systemACUSee: Asian currency unitsADBSee: Adjusted Debit BalanceADRAct of state doctrineThis doctrine says that a nation is sovereign within its own borders, and its domestic actions may not be questioned in the courts of another nation.Activ
3、eA marketin which there is frequent trading.Active accountRefers to a brokerage accountin which many transactionsoccur. Brokerage firms may levy a fee if an account generates an inadequate level of activity.Active bond crowdRefers to members of the bonddepartment of the NYSEwho tradethe most bonds.
4、Antithesis of cabinet crowd.Active boxSecuritiesthat are held in safekeeping and are available as collateralfor securing brokers loans or customers* margin positions.Active portfolio strategyA strategy that uses available information and forecasting techniques to seek better performance than a buy a
5、nd hold portfolio. Related: Passive portfolio strategy.Actual marketUsed in context of general equities. Firm market. Antithesis of Subject market.ActualsThe physical commodities underlyinga futures contract. Cash commodity, physical asset.A-DAdvance-Decline, or measurement of the number of issues t
6、radingabove their previous closing prices less the number trading below their previous closing prices over a particular period. As a technical measure of marketbreadth, the steepness of the A-D line indicates whether a strong bullor bearmarket is under way.Additional bonds testA test for ensuring th
7、at bond issuerscan meet the debt servicerequirements of issuing any new additional bonds.Additional hedgeA protection against borrower fallout riskin the mortgage pipeline.Adequacy of coverageA test that measures the extent to which the value of an assetis protected from potential loss either throug
8、h insuranceor hedging.Adjustable rateApplies mainly to convertible securities. Refers to interest rateor dividendthat is adjusted periodically, usually according to a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bondsor notes. Typic
9、ally, such issueshave a set floor or ceiling, called capsand collarsthat limits the adjustment.Adjustable-rate mortgage (ARM)A mortgagethat features predetermined adjustments of the loan interest rateat regular intervals based on an established index. The interest rateis adjusted at each interval to
10、 a rate equivalent to the indexvalue plus a predetermined spread,or margin, over the index, usually subject to per-interval and to life-of-loan interest rate and/or payment rate caps.Adjustable-rate preferred stock (ARPS)Publicly traded issuesthat may be collateralizedby mortgagesand MBSAdjusted bal
11、ance methodMethod of calculating financecharges that uses the account balanceremaining after adjusting for all transactionsposted during the given billing period as its basis. Related: Average daily balancemethod, previous balance method, past due balance method.Adjusted basisPrice from which to cal
12、culate and derive capital gainsor lossesupon sale of an asset. Account actions such as any stock splitsthat have occurred since the initial purchase must be accounted for.Adjusted debit balance (ADB)The account balance for a margin accountthat is calculated by combining the balance owed to a brokerw
13、ith any outstanding balance in the special miscellaneous account, and any paper profitson shortaccounts.Adjusted exercise priceTerm used in optionson Ginnie Mae(Government National Mortgage Association) contracts. The final exercise priceof the optionaccounts for the coupon ratescarried on Ginnie Ma
14、e mortgages. For example, if the standard GNMA mortgagehas an 9% yield, the price of GNMA pools with 13% mortgages in them is altered so that the investor receives the same yield.Adjusted gross income (AGI)Gross incomeless allowable adjustments, is the income on which an individual is taxed by the f
15、ederal government.Adjusted present value (APV)The net present valueanalysis of an assetif financed solely by equity(present value of unlevered cash flows), plus the present valueof any financing decisions (levered cash flows). In other words, the various tax shieldsprovided by the deductibility of i
16、nterest and the benefits of other investment tax creditsare calculated separately. This analysis is often used for highly leveraged transactions such as a leveraged buyout.Adjustment bondA bondissued in exchange for outstandingbonds when a corporation facing bankruptcy is recapitalized.Administrativ
17、e pricing rulesIRS rules used to allocate income on export sales to a foreign sales corporation.AdvanceIncrease in the market priceof stocks, bonds, commodities, or other assets.Advance commitmentA promise to sell an assetbefore the seller has lined up purchase of the asset. This seller can offset r
18、iskby purchasing a futures contractto fix the sales price approximately.Advance Computerized Execution System (ACES)Refers to the Advance Computerized Execution System, run by Nasdaq. ACES automates tradesbetween orderentry and market maker firmsthat have established tradingrelationships with each o
19、ther. Securitiesare designated as specified for automatic execution.Advance funded pension planA pension planin which funds are set aside in advance of the date of retirement.Advance refundingIn the context of municipal bonds, refers to the sale of new bonds(the refunding issue) before the first cal
20、l dateof old bonds(the issueto be refunded). The refunding issue usually specifies a rate lower than the issueto be refunded, and the proceeds are invested, usually in government securities, until the higher-rate bonds become callable. See: Refunding esciow deposits.Adverse opinionAn independent aud
21、itors opinion expressing that a firmsfinancial statements do not reflect the companys positionaccurately. See also: Qualified opinion.Adverse selectionRefers to a situation in which sellers have relevant information that buyers lack (or vice versa) about some aspect of product quality.Advisory lette
22、rA newsletter offering financial advice to its readers.AffiliateRelationship between two companies when one company owns substantial interest,but less than a majority of the voting stockof another company, or when two companies are both subsidiariesof a third company. See: Subsidiaries, parent compa
23、ny.Affiliated corporationA corporation that is an affiliateto the parent company.Affiliated personAn individual who possesses enough influence and control in a corporation as to be able to alter the actions of the corporation.Affirmative covenantA bond covenantthat specifies certain actions the firm
24、 must take.Affordability indexAn indexthat measures the financial ability of consumers to purchase a home.After acquired clauseA contractual clause in a mortgageagreement stating that any additional mortgageable property attained by the borrowerafter the mortgageis signed will be regarded as additio
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