Three-dimensional (3D) printing is an additive manufacturing process that creates a physical object by laying down thin layers of plastic, metal, or cement, and then fusing the layers together.

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3D Printing Technology for Improved Hearing

Three-dimensional (3D) printing is an additive manufacturing process that creates a physical object from a digital design. Three-dimensional (3D) printing is an additive manufacturing process in which a physical object is created from a digital design by printing thin layers of material and then fusing them together. Some industries, such as hearing aids manufacturers, airline manufacturers, and car manufacturers, use 3D printing to create prototypes and mass produce their products using custom scans. While it is currently too slow to be used in mass production, 3D printing technology is still evolving and has the potential to massively disrupt both the manufacturing logistics and inventory management industries. The use of 3D printing accelerates the process of manufacturing and enables manufacturers to make custom hearing aids.

3D Printing

Abandon rate is the percentage of tasks that are abandoned by the customer before completing the intended task.

The abandon rate is the percentage of tasks that are abandoned by the customer before completing the intended task. For an inbound call center, the abandon rate is the percentage of inbound phone calls made to a call center or service desk that is abandoned by the customer before speaking to an agent. Often times, online retailers will use the information provided by abandoned carts to enhance their marketing techniques and may end up selling promotional items to the owner of the abandoned cart in an effort to complete the sale. The abandon rate for online retailers is the percentage of shoppers who abandon their virtual carts without completing check-out procedures. Even when carts are abandoned, online retailers can use customer information gleaned from the cart contents to improve their marketing and sales techniques.

Abandon Rate

An Abbreviated New Drug Application (ANDA) is a written request to the U.S. Food and Drug Administration to manufacture and market a generic drug in the United States.

An Abbreviated New Drug Application (ANDA) is a written request to the U.S. Food and Drug Administration (FDA) to manufacture and market a generic drug in the United States. A company that intends to market a generic drug needs to show the FDA that the drug has been found to be bioequivalent, which means that it can reach the part of the body where the drug works at the same time and in the same amount as the brand-name drug. An Abbreviated New Drug Application (ANDA) is a written request to the U.S. Food and Drug Administration (FDA) to manufacture and market a generic drug in the United States. If an ANDA is approved, the generic drug will be listed in the Orange Book, which lists all medicines the FDA has found to be safe, effective, and low-cost alternatives for the public. An ANDA contains the information the FDA needs to evaluate how safe and effective a proposed generic drug is compared with its brand-name equivalent.

Abbreviated New Drug Application (ANDA)

Absenteeism is the habitual non-presence of an employee at their job beyond what is deemed to be within an acceptable realm of days.

Absenteeism refers to the habitual non-presence of an employee at their job. Employers may discourage absenteeism by taking several proactive steps—such as rewarding good attendance, providing emotional support to employees, setting clear attendance expectations, and formalizing the organization's attendance policy in written documents—that all new employees must review and sign.
Below are some detailed explanations of the top reasons absenteeism may occur:
**Burnout**. While disability leave, jury duty obligations, and the observance of religious holidays are all legally protected reasons for an employee to miss work, some workers abuse these laws, saddling their employers with unfair costs in the process. Absenteeism refers to absence from work that extends beyond what would be considered reasonable and customary due to vacation, personal time, or occasional illness. River regularly calls in sick to work for days at a time, often missing five days each month, even though there are no actual chronic health problems.

Absenteeism

An absolute auction is a type of auction where the sale is awarded to the highest bidder. Absolute auctions do not have a reserve price, which sets a minimum required bid for the item to be sold.

An absolute auction is a type of auction in which the sale is awarded to the highest bidder. Foreclosed properties are often sold via an absolute auction; potential buyers can find out from the mortgage holder (often a bank) if the property will be sold at an absolute auction or by a lender confirmation auction. A sealed bid auction, for example, is an auction in which people submit secret bids, while in a Dutch auction, the auctioneer starts at a high price and decreases it until somebody agrees to buy the item for that price. An absolute auction is different from a lender confirmation auction, in which the lender must approve the bid in order to complete the transaction. An absolute auction is a type of auction in which the sale is awarded to the highest bidder.

Absolute Auction

The absolute performance standard is a theoretical benchmark for quality control. Although it is unattainable, it can be a good way to measure how well a business and its workers are doing.

The absolute performance standard is a theoretical benchmark for quality control. Having an absolute performance standard in place means companies have a way to measure their efficiency and performance. The company can find new training opportunities for those employees to boost their performance levels to meet the others based on the performance standards put in place. The absolute performance standard is a theoretical quality control benchmark, which ensures zero defects, error, and losses. The absolute performance standard is a good way for a company to measure its progress and efficiency.

Absolute Performance Standard

An acceptable quality level (AQL) is a statistical measurement of the maximum acceptable number of defective goods in a particular sample size.

What is AQL and What Do You Need to Know About It?

The acceptable quality level (AQL) is a measure applied to products and defined in ISO 2859-1 as the “quality level that is the worst tolerable.” This figure of 11 or more defective products is known as the rejectable quality level (RQL).
The AQL is an important statistic for companies seeking a Six Sigma level of quality control, which is a quality-control methodology developed in 1986 by Motorola, Inc. The acceptable quality level (AQL) is the worst quality level that is tolerable for a product.
The AQL differs from product to product. The acceptable quality level (AQL) is a measure applied to products and defined in ISO 2859-1 as the “quality level that is the worst tolerable.” **Rejectable quality level (RQL)**: This is considered an unsatisfactory quality level and is sometimes known as lot tolerance percent defective (LTPD).

Acceptable Quality Level (AQL)

Acceptance sampling is a statistical quality-control measure that lets a company determine the quality of a product lot by testing randomly selected samples.

Acceptance sampling is a statistical measure used in quality control. Acceptance sampling is a quality-control measure that lets a company determine the quality of an entire product lot by testing randomly selected samples and using statistical analysis. As a measure of quality control, acceptance sampling inspects a small number of available product in order to infer the quality of all other units produced. While it was developed during World War II as a quick fix for manufacturing, acceptance sampling shouldn't permanently replace more systemic acceptance quality control methods. The process involves first, determining the size of a product lot to be tested, then the number of products to be sampled, and finally the number of defects acceptable within the sample batch.

Acceptance Sampling

An acceptance is a contractual agreement by an importer to pay the amount due for receiving goods at a specified date in the future.

An acceptance is a contractual agreement by an importer to pay the amount due for receiving goods at a specified date in the future. There are two common types of payments with documentary collections:
The importer or buyer of the goods is presented the documents by their bank and must agree to pay according to the terms, which is usually done via a time draft. Essentially, a time draft is a promise to pay, and in exchange for that promise, the buyer's bank releases the documents to the buyer or importer. The goods are shipped to the U.S. port, and the documents are sent from the Chinese bank to the importer's bank in the U.S. A banker's acceptance allows the company buying the goods (importer) to use the bank's credit to assure payment to the exporter.

Acceptance

An accounting-based incentive is designed to compensate corporate executives based on performance measures such as earnings per share and return on equity.

An accounting-based incentive is designed to compensate corporate executives based on performance measures such as earnings per share and return on equity. An accounting-based incentive is designed to compensate corporate executives based on performance measures such as earnings per share and return on equity. Companies can use a host of different metrics on which to base bonuses, including Individual salary levels, firm-wide performance numbers, and performance figured for a particular business unit. On the other hand, opponents of incentive-based compensation cite many disadvantages to this practice, including that fact that bonus calculations can be highly complex because compensation plans often rely on a multitude of performance measurements. Companies determine annual incentive awards for rank-and-file employees by using formulas based on the following three components:
1.  Individual salary level
2.  Firm-wide performance
3.  Performance of a particular business unit

Accounting-Based Incentive

An active partner is an invested person that takes on duties that regularly involve the person in the daily operations of a partnership.

An active partner is an invested person who is involved in the daily operations of the partnership. If that partner takes on an active role in the company, the choices the founder makes might be questioned by the partner even if their position within the company is subordinate to the founder’s position in the hierarchy. In addition, the profits and losses normally are shared equitably, but partners also can specify while completing the partnership-forming paperwork to only share in part of the profits and losses.
There are firms that are built around having active partners fill management roles, which can require the corporate structure to factor in how this will affect the advancement of subordinate employees. Because they are actively involved, an active partner is still exposed to unlimited liability as opposed to a silent partner whose liability is only their initial investment. An active partner is comparable to a member of a board of directors who also serves in a day-to-day position at a company.

Active Partner

An activity quota is a minimum level of sales-oriented actions that must be met by a salesperson during a given time period.

An activity quota is a minimum level of sales-oriented actions that must be met by a salesperson during a given time period. An activity quota may require a salesperson to make a certain number of outbound calls, send a certain number of emails to potential clients, or submit a certain number of statements of work. An activity quota may require a salesperson to make a certain number of outbound calls, send a certain number of emails to potential clients, or submit a certain number of statements of work. The quota is designed to ensure that the salesperson is making a minimum level of effort to attract new clients, and employers may reward employees who surpass the activity quota as an incentive to put in more effort. The quota is designed to ensure that the salesperson is making a minimum level of effort to attract new clients, and employers may reward employees who surpass the activity quota as an incentive to put in more effort.

Activity Quota

An actual owner is a person or entity that receives the benefit of ownership of a company or property. 

An Actual Owner is a person or entity that receives the benefit of ownership. Ownership of the company is determined by who owns the shares, and battles for ownership may take place when a person or entity acquires a sufficient number of shares to seek one or more seats on the company's board of directors. The actual owner may be an individual, a group of individuals, another company, or even a group of individuals and another company or companies. In the vast majority of cases, residential property ownership can be determined by going online to or visiting the county, town, or city property records office. Being the actual owner, the asset is under the person's or entity's name, and they are entitled to any advantage from that.

Actual Owner

An add-on sale refers to any kind of ancillary item sold to a buyer of a main product or service.

An add-on sale refers to an ancillary item sold to a buyer of a main product or service. A salesperson at an automobile dealership also generates significant add-on sales by suggesting or convincing a buyer sitting at his or her desk that the buyer would be much happier with the car with a few or several add-on options. Many consider CLV to be an extremely important metric for understanding customers because it provides data that informs important business decisions about sales, marketing, product development, and customer support. Add-on sales help generate increased Customer Lifetime Value (CLV), which is the net profit contribution a customer makes to your company over time. By delivering enhanced value and making them feel like they got a better deal, chances are good you'll generate increased Customer Lifetime Value (CLV), which is the net profit contribution a customer makes to your company over time.

Add-On Sale

An advance commitment is a promise or agreement to take some future action, such as a promise to buy goods at a future date.

An advance commitment is a promise or agreement to take some future action. Futures contracts are a type of advance commitment, except that the buyer or seller of the contract can back out of the contract by taking an offsetting position as long as it the offsetting occurs before the expiry date. They sell 20 gold futures contracts (20 contracts x 100 ounces per contract = 2,000 ounces), locking in a price of $1,476. The person buying the contract is agreeing to buy the underlying asset at the agreed price when the contract expires. That said, if come June the price of gold is trading at $1,600, the gold miner potentially lost out on some additional profit since they are still committed to sell their gold at $1,476.

Advance Commitment  and Example

An advertised price is the price of a product or service as displayed or announced in a print, radio, television or online advertisement. 

An advertised price is the price of a product or service as displayed or announced in a print, radio, television, or online advertisement. An advertised price in stores may be non-negotiable, while the advertised price for bigger-ticket items, such as cars, boats, furniture, college tuition, medical bills or procedures, and rent, may be negotiable from their advertised price. Even though a lower price may be negotiated, a minimum advertised price helps to set a market price for an item and gives retailers a built-in profit margin. Advertised prices may be negotiable, though a minimum advertised price (MAP) is the lowest price that may be advertised for a particular item by law. Stiff fines are payable by a company that sells a product above its advertised price, except in cases where the advertised price was a mistake that was rectified promptly.

Advertised Price

Advertising costs, a category in financial accounting, cover expenses associated with promoting an industry, entity, brand, product, or service.

How to Get the Most From Your Marketing Budget

How Much Do Small Businesses Spend on Advertising and Marketing

Advertising costs are a type of financial accounting that covers expenses associated with promoting an industry, entity, brand, product, or service. Then, as those sales occur, those advertising expenses are moved from the balance sheet (prepaid expenses) to the income statement (SG&A). For example, if a company launches a direct mail campaign and it knows that future sales are due to that campaign, it will record the cost of the campaign on its balance sheet as an asset, a prepaid expense. For a company to record advertising expenses as an asset, it must have reason to believe those specific expenses are tied to specific future sales. Over time, as customers respond to the campaign, those direct mail expenses will be moved from the prepaid expense category to the advertising cost category.

Advertising Costs

Affiliate marketing allows you to earn commissions for marketing another company's products or services. 

3 Types of Affiliate Marketing Explained—and The One I Profit From—UPDATED!

Amazon Associates - Amazon’s affiliate marketing program

21 Astonishing Affiliate Marketing Statistics

Affiliate Marketing for Beginners: 7 Steps to Success

Table of Contents
What Is Affiliate Marketing?
Understanding Affiliate Marketing The three main types of affiliate marketing are unattached affiliate marketing, involved affiliate marketing, and related affiliate marketing. There are three main types of affiliate marketing: unattached affiliate marketing, related affiliate marketing, and involved affiliate marketing. Pros
Access to a broader market
Better accounting of qualified leads
Low-cost advertising
Subject to fraud
Less creative control
Vulnerable to theft
Amazon's affiliate marketing program, Amazon Associates, is one of the world's largest affiliate marketing programs.﻿﻿ Creators, publishers, and bloggers sign up to have Amazon products and services shared on their websites or apps, and in return, receive compensation for the sales their sites generate. Affiliate marketing is a marketing scheme in which a company compensates partners for business created from the affiliate's marketing tactics.

Affiliate Marketing

An affiliate network is a group of companies that sometimes offer compatible or complementary products and will often pass leads to each other.

Networks Help Drive Affiliate Marketing Into the Mainstream

An affiliate network is a group of associated (or affiliated) companies that sometimes offer compatible or complementary products and will often pass leads to each other. In the online world, an affiliate network consists of brands that team up with third-party online sales channels to promote their goods and services. In the online world, an affiliate network consists of brands that team up with third-party online sales channels to promote their goods and services. They may offer cross-promotional deals, encouraging clients who have utilized their services to look into the services offered by an affiliate. Companies use affiliate networks if they do not have the available resources to create a significant outbound sales effort, if they do not have a substantial advertising presence or if they want to tap into groups of potential customers in an unrelated industry.

Affiliate Network

The term affiliate is used to describe the relationship between two entities wherein one company owns less than a majority stake in the other's stock.

Chapter 7 Controlled and Affiliated Service Groups

Affiliate is used primarily to describe a business relationship wherein one company owns less than a majority stake in the other company's stock. A multinational company may set up affiliates to break into international markets while protecting the parent company's name in case the affiliate fails or the parent company is not viewed favorably due to its foreign origin. In retail, and particularly in e-commerce, a company that sells other merchants' products for a commission is an affiliate company. Note that for the purposes of filing consolidated tax returns, IRS regulations state a parent company must possess at least 80% of a company's voting stock to be considered affiliated. Affiliate is used primarily to describe a business relationship wherein one company owns less than a majority stake in the other company's stock.

Affiliate

An affiliated group is a parent corporation and one or more subsidiaries that are all treated as one company for federal income tax purposes.

An affiliated group is two or more corporations that are related through common ownership but are treated as one for federal income tax purposes. A disadvantage of the affiliated group designation is that it prevents larger companies from splitting into smaller ones for the purposes of allocating more of their income to lower tax brackets or avoiding the alternative minimum tax. An affiliated group is two or more corporations that are related through common ownership but are treated as one for federal income tax purposes. An affiliated group is two or more corporations that are related through common ownership but are treated as one for federal income tax purposes. XYZ and ABC use DEF's losses to offset their own profits and the entire group ends up paying lower taxes as a result.

Affiliated Group

An affiliated person is someone in a position to influence the actions of a corporation, which can include directors, officers, and certain shareholders.

Rule 144: Selling Restricted and Control Securities

§ 1024.15 Affiliated Business Arrangements

Final Rule: Transactions of Investment Companies With Portfolio and Subadviser Affiliates

An affiliated person is someone in a position to influence the actions of a corporation. By law, affiliate persons are restricted from engaging in certain actions, such as selling any security or other property to such registered company, or to any company controlled by such registered company—unless such sale only involves the following:
Securities issued by the buyer
Securities issued by the seller and which are part of a general offering to the holders of a class of its securities
Securities deposited with the trustee of a unit investment trust or periodic payment plan A debtor is an individual or company filing for bankruptcy, so their affiliated persons would be those who own the debtor corporation...or those who own the owner of the debtor. In the context of a loan agreement, affiliated persons are individuals or entities, who control or own a large portion of the entity taking out a loan or offering a loan. In addition, if an organization operates under an operating agreement or lease of a debtor, that organization is considered an affiliated person.

Affiliated Person

After-tax return on sales is a profitability measure that indicates how well a company uses its sales revenue.

Fiscal Year 2020 Consolidated Financial Statements

After-tax return on sales is a profitability measure that indicates how well a company uses its sales revenue. After-tax return on sales is calculated by dividing the company's after-tax net income, the amount of money left over after accounting for all expenses, including taxes, operating expenses, interest, and preferred stock dividends, by its total sales revenue. As of 2020, forty-four states levy a corporate income tax, with rates ranging from 2.5% in North Carolina to 12% in Iowa.
Top Marginal Corporate Income Tax Rate in 2020
Within the S&P 500, pharmaceutical and biotechnology companies tend to register a higher after-tax return on sales, followed by energy and exploration firms and software and software-related services. Companies that show higher levels of after-tax return on sales tend to pay less tax and operate in sectors with higher profit margins. Companies that display higher levels of after-tax return on sales tend to pay less tax and be in industries with higher profit margins.

After-Tax Return on Sales

Agency theory is an economic principle used to explain disputes between principals and agents.

Table of Contents
Expand Agency loss is the amount that the principal contends was lost due to the agent acting contrary to the principal's interests. Agency loss is the amount that the principal contends was lost due to the agent acting contrary to the principal's interests. The principal-agent problem is as varied as the possible roles of principal and agent. The difference in priorities and interests between agents and principals is known as the principal-agent problem.

Agency Theory

Aggregate capacity management is the process of planning and managing the overall capacity of an organization's resources.

Aggregate capacity management (ACM) is the process of planning and managing the overall capacity of an organization's resources. Aggregate capacity management is generally a three-step process—measuring aggregate demand and capacity levels for the planning period, identifying alternative capacity plans in case of demand fluctuations, and choosing an appropriate capacity plan. ACM follows a 3-step process: measuring aggregate demand and capacity levels for the planning period, identifying alternative capacity plans in case of demand fluctuations, and choosing an appropriate capacity plan. Aggregate capacity management (ACM) is a management strategy that seeks to optimize a firm's overall capacity utilization over its resources. Aggregate capacity management (ACM) is the process of planning and managing the overall capacity of an organization's resources.

Aggregate Capacity Management

An annual general meeting (AGM) is a mandatory annual assembly of a company's executives, directors, and interested shareholders.

An annual general meeting (AGM) is a yearly gathering of a company's interested shareholders. 1:38
An annual general meeting, or annual shareholder meeting, is primarily held to allow shareholders to vote on both company issues and the selection of the company's board of directors. At an annual general meeting (AGM), directors of the company present the company's financial performance and shareholders vote on the issues at hand. At an AGM, the directors of the company present an annual report containing information for shareholders about the company's performance and strategy. Often, the company's directors and executives use an AGM as their opportunity to share their vision of the company's future with the shareholders.

Annual General Meeting (AGM)

An alien corporation is a corporation that was created in another country, most commonly classified as any corporation that is formed outside of the U.S.

Form 20-F for the Fiscal Year Ended March 31, 2021

An alien corporation is a corporation that was created in another country but is doing business in the U.S. This form is for filing a foreign company's annual report—similar to a Form 10-K, which is the annual report filing with the SEC for U.S.-based companies, such as Apple (AAPL).
Alien companies must also file other forms, such as Form 6-K, which is required when an alien corporation files a report with regulators in its home country. Alien corporations are sometimes referred to as foreign corporations, but on the state level, foreign corporations are those doing business in one state but incorporated in another state. This income must be “effectively connected” to a U.S. business, which can include having employees or a facility/location in the U.S.
Alien corporations are companies operating in the U.S. but incorporated in another country. However, there is a technical difference on the state level, where foreign corporations are generally defined as companies doing business in one state while being incorporated in another state.

Alien Corporation

The Android operating system is a mobile operating system developed by Google primarily for touchscreen devices, such as cell phones and tablets.

Google LLC v. Oracle America, Inc,: The Supreme Court Considers the 'Copyright Lawsuit of the Decade

The Android operating system is a mobile operating system that was developed by Google (GOOGL​) to be primarily used for touchscreen devices, cell phones, and tablets. While the Android source code is released in an open-source format to help advance open standards across mobile devices, it is still packaged with proprietary software when sold on handset devices. The Android operating system is a mobile operating system that was developed by Google (GOOGL​) to be primarily used for touchscreen devices, cell phones, and tablets. The Android operating system was first developed by Android, Inc., a software company located in Silicon Valley before Google acquired it in 2005. And because it is developed as a Google product, Android users are given the opportunity to link their mobile devices to other Google products, such as cloud storage, email platforms, and video services.

Android Operating System

Anticipated holding period refers to the length of time a limited partnership expects to hold a specific asset.

An anticipated holding period refers to the length of time a limited partnership (LP) expects to hold a specific asset. The anticipated holding period helps to calculate the asset's return, also known as the holding period return. Because of the quick turnarounds of their trades, the sometimes illiquid nature of their holdings, the structure of these businesses, and the fact that they are usually formed for a predetermined length of time, LPs are required to disclose the anticipated holding period on assets in their prospectuses. An anticipated holding period refers to the length of time a limited partnership (LP) expects to hold a specific asset. An anticipated holding period refers to the length of time a limited partnership (LP) expects to hold a specific asset.

Anticipated Holding Period

Appraisal costs are expenses tied to preventing defective inventory or product from ever reaching customers. They are a part of quality control management.

Appraisal costs are a specific category of quality control costs. Other examples of appraisal costs include:
Inspecting work-in-process materials
Inspecting finished goods
The supplies used to conduct inspections
The inventory destroyed as part of the testing process
Supervision of the inspection staff
Depreciation of test equipment and software
Maintenance of any test equipment
The next best thing to incurring appraisal costs includes working on increasing the quality of the production processes of all suppliers and the company itself. Common appraisal costs include inspecting materials delivered from suppliers, materials that are a work-in-process or finished goods, supplies used for inspections, and maintenance of test equipment. Quality control is important to the reputation of a business, which is why appraisal costs are necessary costs to the success of a company. Companies pay appraisal costs as part of the quality control process to ensure that their products and services meet customer expectations and regulatory requirements.

Appraisal Costs

In an arm's length transaction, the buyer and seller act independently and have no relationship to each other.

Allocation of Income and Deductions Under IRC 482

Transfer Pricing Guidance on Financial Transactions

An arm's length transaction refers to a business deal in which buyers and sellers act independently without one party influencing the other. Whether the parties are dealing at arm's length in a real estate transaction has a direct impact on financing by a bank of the transaction and municipal or local taxes, as well as the influence the transaction could have on setting comparable prices in the market.
In general, family members and companies with related shareholders don't engage in arm's length sales; rather, deals between them are non-arm's length transactions. A non-arm's length transaction, also known as an arm-in-arm transaction, refers to a business deal in which buyers and sellers have an identity of interest; in short, buyers and sellers have an existing relationship, whether business-related or personal.
For example, it's unlikely that a transaction involving a father and his son would yield the same result as a deal between strangers because the father may choose to give his son a discount. In the same way, international sales between non-arm's-length companies, such as two subsidiaries of the same parent company, must be made using arm's length prices. By contrast, a transaction would not be “arm’s length” if the buyer and seller are personally related—such as being family members or personal friends. An arm's length transaction refers to a business deal in which buyers and sellers act independently without one party influencing the other.

Arm's Length Transaction

Articles of association form a document that specifies the regulations for a company's operations and defines the company's purpose.

Articles of association form a document that specifies the regulations for a company's operations and defines the company's purpose. While the content of the articles of association and the exact terms used vary from jurisdiction to jurisdiction, the document is quite similar throughout the world and generally contains provisions on the company name, the company's purpose, the share capital, the company's organization, and provisions regarding shareholder meetings. Articles of association form a document that specifies the regulations for a company's operations and defines the company's purpose. A company may or may not issue shares, but if they are listed in the articles of association, shares can be issued if and when needed. The lawyer or accountant will typically work with the directors of the company, asking them questions to help figure out how they wish to grow and how the company may end up being structured in the future.

Articles of Association  and Example

Articles of organization are part of a formal legal document used to establish a limited liability company (LLC) at the state level.

Forming a Limited Liability Company In New York

Articles of organization are part of a formal legal document used to establish a limited liability company (LLC) at the state level. The articles of organization will also establish the rights, powers, duties, liabilities and other obligations between each member of an LLC.
Filing requirements for articles of organization may vary slightly from state to state. Once approved, the articles of organization become the legal basis for the creation of an LLC is a registered business entity and LLCs are then bound by the state laws under which they were formed. Rather than having to write articles of organization from scratch, many states have fill-in-the-blank forms for filling out and filing articles of organization. Articles of organization are part of a formal legal document used to establish a limited liability company (LLC) at the state level.

Articles of Organization

Articles of partnership are contracts that form an agreement among business partners to pool labor and capital and share in profit, loss, and liability.

Articles of partnership is a contract that forms an agreement among business partners to pool labor and capital and share in profit, loss, and liability. They include:
The names of the parties in the partnership
The partnership's principal place of business
The purpose of the partnership's business
The terms of the partnership
When the partnership will begin and, if not infinite, when and how it will end
Each partner's capital contribution
Each partner's percentage of interest in the partnership
How the partnership's profits will be distributed (equally is the default, but there may be special conditions)
How the partnership will be managed
How salaries (if any) will be distributed
How and under what conditions partnership rights can be transferred or sold
For example, if one partner provided the initial idea for the partnership but no cash, and the remainder of the partners contributed an equal sum, will each partner be considered equal regardless of cash contribution?
Similarly, an articles of partnership agreement can remove the possibility of disputes over which partner is responsible for certain duties and which partners have special privileges or are in charge of specific tasks. Articles of partnership should spell out who has what duties, but it doesn't have to delegate every task that could conceivably come up.
Several items related to the formation of a partnership are covered in a typical articles of partnership. Articles of partnership can be useful in preventing and resolving disagreements among partners since it clarifies the terms of the relationship and outlines how a partnership's assets are shared. Articles of partnership is a contract that forms an agreement among business partners to pool labor and capital and share in profit, loss, and liability.

Articles of Partnership

Assemble-to-order is a production strategy whereby components are assembled according to specific orders, as opposed to assembling an item to fill a stock level.

Assemble-to-order (ATO) is a business production strategy where products that are ordered by customers are produced quickly and are customizable to a certain extent. The assemble-to-order strategy is a hybrid between the make-to-stock strategy (MTS) and the make-to-order strategy (MTO). The ATO strategy attempts to combine the benefits of both make-to-order and make-to-stock—getting products into customers' hands quickly while allowing for the product to be adapted or altered in certain ways, as per customer request. Assemble-to-order (ATO) is a business strategy where products are quickly produced from component parts once the order is confirmed. A PC-maker that receives orders and then assembles customizable computers using components like keyboards, monitors, and motherboards is using an assemble-to-order strategy.

Assemble-to-Order (ATO)

An asset disposal plan keeps a municipalities infrastructure functioning when infrastructure and other property are retired, 

An asset disposal plan documents the activities and costs associated with the disposal of infrastructure assets. An asset disposal plan is an essential component of a sound asset management plan because the disposal of assets accounts for a significant part of the full life-cycle costs of an asset. The International Infrastructure Management Manual recommends that an asset disposal plan should include forecasts of the timing for future asset disposals and cash flow forecasts identifying income and expenditures associated with asset disposal. An asset disposal plan is typically part of a comprehensive asset management plan used by local governments and municipalities to manage their portfolio of infrastructure assets such as roads and bridges, water distribution networks, wastewater systems, and other utilities. A solid asset disposal plan can reduce asset management costs, provide superior services to the community, and ensure a lower tax burden for taxpayers.

Asset Disposal Plan for Infrastructure

Asset redeployment is the strategic relocation of assets from a less valued, or less profitable, use to a higher valued, or more profitable, use.

GE Agrees to Sell Appliances Business to Electrolux for $3.3 billion

Form 10-K for the fiscal year ended December 31, 2016

Asset redeployment is the strategic reallocation of assets from a less profitable use to a more profitable use. In 2014, General Electric (GE) sold its appliance business to Electrolux for $3.3 billion.﻿﻿ The sale was part of the company's long-term redeployment of capital from non-core assets such as media, plastics, and insurance in favor of high-growth, higher-margin businesses such as oil and gas, power, aviation, and healthcare. An asset disposal impacts the balance sheet by recording the removal of an asset, marking depreciation, and noting the gain or loss from the sale. In the latter case, the asset would be sold at a loss or gain, and there would no future costs associated with that asset. Asset redeployment refers to the strategic reallocation of assets from a less profitable use to a higher profitable use.

Asset Redeployment

The assignment method is a way of allocating organizational resources where a resource is assigned to a particular task.

The assignment method is a way of allocating organizational resources in which each resource is assigned to a particular task. Assigning new computers, laptops, and other expensive high-tech devices to the areas that need them the most while lower priority departments would get the older models
Companies can make budgeting decisions using the assignment method since it can help determine the amount of capital or money needed for each area of the company. As a result, the management decides to allocate the new hires to the New York region, where it has a greater market share to maximize new client growth and, ultimately, revenue. The assignment method has various applications in maximizing resources, including:
Allocating the proper number of employees to a machine or task Given the past performance results in the Chicago area, the bank has produced fewer new clients than in New York.

Assignment Method

An associate company is a corporation whose parent company possesses only a minority stake in the ownership of the corporation.

An associate company, in its broadest sense, is a corporation in which a parent company possesses an ownership stake. As a rule, the parent company or companies do not consolidate the associate company's financial statements, as is the case with a subsidiary (where the parent company usually consolidates the financial statements). Usually, the parent company owns only a minority stake of the associate company, as opposed to a subsidiary company, in which a majority stake is owned. If a firm invests in a smaller company, but obtains a minority stake or non-controlling interest in it, the company that they have invested in is called an associate company. Unlike a subsidiary company, the parent will only own a minority or non-controlling stake in the associate company.

Associate Company

An assortment strategy is a retail industry sales tool that optimizes the variety of goods offered for sale to consumers.

An assortment strategy in retailing involves the number and type of products that stores display for purchase by consumers. The strategy is made up of two major components:
1.  The depth of products offered, or how many variations of a particular product a store carries (e.g. how many sizes or flavors of the same product).
2.  The width (breadth) of the product variety, or how many different types of products a store carries. Stores with smaller spaces may choose to specialize in a certain type of product and offer customers a variety of colors and styles; other stores may offer a deep assortment of products but a narrow variety—one reason why a 7-Eleven (private since 2005) might carry just one brand of canned cat food, for example, while a Kroger (NYSE: KR) likely would have the space to stock 12 brands of canned cat food, if it chose to. Originally, assortment strategy referred only to brick-and-mortar stores because the strategy's components of depth and breadth had a lot to do with physical space and the visual and tactile interaction between consumer and product. A deep assortment—the opposite of a narrow assortment—of products means that a retailer carries a number of variations of a single product.

Assortment Strategy

Attribute sampling is a statistical method typically used in audit procedures to analyze the characteristics of a given population.

Attribute sampling is a statistical process used in audit procedures that aims to analyze the characteristics of a given population. Because the auditor has taken a sample and was not able to examine the entire population of vendor invoices, they must do an additional analysis because any time a sample is taken, a phenomenon known as “sampling error” occurs. A sampling error occurs when the values of the sample do not match those of the entire population from which the sample was taken. So if additional analysis shows that the margin of error is 2.5%, then a 5% non-compliance rate would be acceptable because the confidence interval is 5%, plus or minus 2.5%, and the tolerable 3% rate falls within that range. Attribute sampling is a statistical process used in audit procedures that aims to analyze the characteristics of a given population.

Attribute Sampling

Attrition is the gradual but deliberate reduction in staff as employees retire or resign and are not replaced. 

The term attrition refers to a gradual but deliberate reduction in staff numbers that occurs as employees retire or resign and are not replaced. For instance:
Loyal customers may defect to products of another company
Aging customers aren't being replaced by younger ones
Bad customer service
Changes in product lines or product quality
Companies may also experience customer attrition when they don't adapt their offerings to their customers. You can prevent customer attrition from happening by making sure your company offers the products and services your customers want, providing them with excellent customer service, staying current with market trends, and address any problems that arise as a result of customer complaints. Changes in management, company structure, or other aspects of a company's operations can cause employees to leave voluntarily, resulting in a higher attrition rate. Turnover takes place in a company's workforce when people leave their job and are replaced by new employees.

Attrition

An auction is a sales event where buyers place competitive bids on assets or services. Read the pros and cons of buying and selling through auctions.

Google shares took off, but the auction didn’t

My Cat Made Me Do It,’ and Other Ways People Try to Back Out of Auction Bids

Legislators Seek to Stop ‘Chandelier Bidding’ at Auction

Changes in the law make auction rings easier to prosecute, but is the regulatory framework still fit for purpose?

Table of Contents
What Is an Auction?
How Auctions Work An interested party is aware of the competing bid amounts and continues to raise their bid until they are either declared the winner of the auction (i.e., they submitted the last highest bid within the auction time limit) or until they decide to drop out of the bidding. The asset or service in question is sold to the party that places the highest bid in an open auction and usually to the highest bidder in a closed auction. A Dutch auction also refers to a type of auction whereby the price of an item is lowered until there is a bid. If no bids are placed on a property at an auction, the vendor may decline to put the property back up for auction.

Auction

Augmented reality (AR) is the modification of a real-life environment by the addition of sound, visual elements, or other sensory stimuli.

Augmented reality (AR) is an enhanced version of the real physical world that is achieved through the use of digital visual elements, sound, or other sensory stimuli delivered via technology. Amid the rise of data collection and analysis, one of augmented reality’s primary goals is to highlight specific features of the physical world, increase understanding of those features, and derive smart and accessible insight that can be applied to real-world applications. Unlike virtual reality, which creates its own cyber environment, augmented reality adds to the existing world as it is. Augmented reality uses the existing real-world environment and puts virtual information on top of it to enhance the experience. Augmented reality (AR) is an enhanced version of the real physical world that is achieved through the use of digital visual elements, sound, or other sensory stimuli delivered via technology.

Augmented Reality (AR)

An authorization code is an alphanumeric password that identifies the user as authorized to purchase, sell, or transfer items.

An authorization code is an alphanumeric password that authorizes its user to purchase, sell or transfer items, or to enter information into a security-protected space. The most common usage of authorization codes is those sent to a merchant from credit card issuers, to confirm that the customer's credit card has sufficient credit available to authorize the transaction. _Although authorization codes may be permanently used over the length of an employee's tenure, they more often require routine refreshment._
Authorization codes also play a role in corporate financial controls. _In the corporate world, staffers can be given different authorization codes for purchases and expenses that contain specific transaction thresholds._ For example, a credit card authorization code is a five- or six-number code from the issuing bank to the vendor, that authorizes the sale.

Authorization Code

Average ticket is a metric that provides details on the average amount of sales by a given customer. 

Average ticket is a metric that provides details on the average amount of sales per customer. Generally, other statistics around the average ticket are also reported to help provide a range such as the lowest ticket, highest ticket, and median ticket. A credit card company’s average ticket refers to the average amount charged on credit by a customer. Broker/dealers will often follow average ticket size per client on a daily basis, reporting average trades in dollar amounts per day. Credit card businesses also follow average ticket when analyzing credit card transactions by customers.

Average Ticket

Average industrial wage refers to the mean hourly rate of pay for workforce members of a given geographical area, excluding farmworkers. 

Table B-3. Average Hourly and Weekly Earnings of All Employees on Private Nonfarm Payrolls by Industry Sector, Seasonally Adjusted

Payroll Employment, Earnings and Hours, June 2020

Average industrial wage refers to the mean hourly rate of pay for workers in a specific geographical area, such as a country or province, excluding farm employees. National survey organizations, such as the U.S. Bureau of Labor Statistics and Statistics Canada, are responsible for calculating figures for the average industrial wage. National survey organizations such as the U.S. Bureau of Labor Statistics and Statistics Canada calculate figures for the average industrial wage. The agency tracks median salary by job title, calculates average hourly wages by employees sorted by a variety of categories, and tracks trends related to wage gaps connected to race and gender. Average industrial wage refers to the mean hourly rate of pay for workers in a specific geographical area, such as a country or province, excluding farm employees.

Average Industrial Wage

A back charge is a billing made to collect an expense incurred in a previous billing period. It can be due to lack of payment by the recipient of services or goods, an adjustment due to an error, or other reasons.

A back charge is a billing made to collect an expense incurred in a previous billing period. On the invoice for the October applesauce, George includes a back charge for the still outstanding September applesauce charges. Assume George has a business selling applesauce, and XYZ grocery purchases two boxes of George's applesauce every month. XYZ may simply accept the charge, but more often than not a back charge brings unwanted anger⁠—sometimes even litigation⁠—if it is not discussed up front. Because of the nature of these industries and the tendency for many things to go wrong during the day-to-day business, a back charge is issued either in real-time or further down the billing cycle.

Back Charge

A backorder is a retailer's request to a supplier or wholesaler for additional stock of a sold-out item to satisfy an outstanding customer order.

A backorder is a retailer's request to a supplier or wholesaler for additional stock of a sold-out item to satisfy an outstanding customer order. Including the intangible costs associated with lost customers and sales, a company with a large number of backorders may also face an increase in their tangible costs. In the retail business, a large number of backorders indicates that customer demand for a product or service exceeds a company's capacity to supply it. In such cases, the supplier has submitted backorders to the manufacturer to fulfill a retailer's backorders from customers. If demand exceeds supply, a retailer reorders the product, individually or in bulk, to satisfy backorders and to restock store shelves.

Backorder

A backorder is an order for a good or service that cannot be filled immediately due to a lack of available supply.

Apple iPhone X wait times rise as demand exceeds supply

A backorder is an order for a good or service that cannot be filled at the current time due to a lack of available supply. The number of items on backorder and how long it takes to fulfill these customer orders can provide insight into how well the company manages its inventory. The nature of the backorder and the number of items on backorder will affect the amount of time it takes before the customer eventually receives the ordered product. If a customer sees products on backorder—and notices this frequently—they may decide to cancel orders, forcing the company to issue refunds and readjust their books. The item may not be held in the company's available inventory but could still be in production, or the company may need to still manufacture more of the product.

Backorder Defintion

Backorder costs are costs incurred by a business when it is unable to immediately fill an order with readily available inventory and must extend the delivery time.

Backorder costs include costs incurred by a business when it is unable to immediately fill an order and promises the customer that it will be completed with a later delivery date. The ability of inventory management systems and the increased use of online retailing along with real-time inventory management systems have greatly reduced the issue of backorder costs. Companies often look at the relationship between holding costs of inventory and backorder costs to determine how much inventory to hold. Companies may choose to deploy backorder sales if backorder costs are low in comparison to inventory carrying costs. Companies that allow for backorder sales will take a sales order for a product that is not in their readily available inventory and provide a notification to the customer that delivery of the order will take longer than the standard time for delivery.

Backorder Costs

A bailee is an individual who temporarily gains possession, but not ownership, of a good or other property under a bailment.

A bailee is an individual who temporarily gains possession, but not ownership, of a good or other property. The bailee, who is also called a custodian, is entrusted with the possession of the good or property by another individual known as the bailor. The bailee's relationship to the bailor, who hands over the property, is established by a contractual agreement called a bailment. A bailee may promise to take care of and protect a bailor's property such as a bank's safety deposit box, where a customer can store valuable items. A bailee assumes a legal and fiduciary responsibility to safeguard the bailor's property while under their care.

Bailee

A balanced scorecard (BSC) is a performance metric companies use to identify and improve various internal functions and their resulting external outcomes.

The Balanced Scorecard—Measures that Drive Performance

What is the balanced scorecard? A framework for organizational success

The Key Indicators and Drivers of Performance

Table of Contents
What Is a Balanced Scorecard?
Understanding BSCs
Characteristics of the BSC Model
Benefits of a BSC
Examples of a BSC
Balanced Scorecard FAQs
The Bottom Line These four legs encompass the vision and strategy of an organization and require active management to analyze the data collected.
The balanced scorecard analyzes is often referred to as a management tool rather than a measurement tool because of its application by a company's key personnel.
There are many benefits to using a balanced scorecard. BSCs allow companies to pool information in a single report, to provide information into service and quality in addition to financial performance, and to help improve efficiencies. The term balanced scorecard (BSC) refers to a strategic management performance metric used to identify and improve various internal business functions and their resulting external outcomes. A balanced scorecard is a strategic management performance metric that helps companies identify and improve their internal operations to help their external outcomes.

Balanced Scorecard  & Examples of BSC

Bandwidth is the data transfer capacity of a computer network in bits per second (Bps).

Individuals Using the Internet (% of Population)

Individuals Using the Internet, 2005-2019

The Global Internet Phenomena Report 2019

Bandwidth is the data transfer capacity of a computer network in bits per second (Bps). From May 2018 to May 2019, the average Internet speed surged 20.65% to 11.03 Mbps.﻿﻿ Ookla, a company that specializes in Internet testing and analysis, claimed that Singapore had the best bandwidth capabilities in the world in Sept. 2020, with online speeds of 226.60 Mbps—far more more than the 161.14 Mbps registered in the United States. The U.S. Federal Communications Commission (FCC) defines broadband Internet speeds as connections with a bandwidth of 25 Mbps for downloads and three Mbps for uploads.﻿﻿ Providers state the bandwidth measurement to customers, although the number they quote may not always reflect what a customer actually gets. Internet service providers (ISPs) typically denote bandwidth speeds in millions of bits per second (Bps), or megabits (Mbps), and billions of Bps, or gigabits (Gbps). Internet service providers (ISPs) typically denote bandwidth speeds in millions of bits per second (Bps), or megabits (Mbps), and billions of Bps, or gigabits (Gbps).

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