2/15/2014 DECA Business Finance series flashcards | Quizlet

DECA Business Finance series Created by Annette_Lee5

49 terms · wisconsin deca

captive insurance companies organizations that form their own insurance

company; control their own premium rates
and the claims process
traditional/standard insurance company no control over premium rates or the claim
process

reinsurance carriers sell insurance to primary insurance carriers

to protect the primary carriers from
unexpected losses
Chartered Life Underwriter (CLU) insurance underwriters and calculating risks
seek this certification
Certified financial analyst (CFA) financial analysts seek this certification

Chartered investment counselor (CIC) certification of extensive knowledge of

mutual funds
Certified financial planner (CFP) certification for financial planners
controllers direct the preparation of financial reports
such as balance sheets and income
statements and are often in charge of
auditing and accounting an entire company

actuaries insurance industry and are responsible for

assessing risks using statistical analysis and
they design policies to minimize the cost of
that risk
real estate appraisers evaluate property value
minimum style of decision making that uses minimum
input

aging accounts method to identify customers who owe

money to the business
accounts payable reports identify vendors to whom the business
owns money
asset-depreciation reports summarize the decreased value of a
business's capital assets

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asset allocation variety of securities in an individuals or

businesses' investment portfolio
liquidity measures a business's ability to pay its
short term debts

cash accounting system records transactions when the business

receives or spends money; can create
problems when the business receives
payment in an accounting period
accrual accounting system records transactions at the time they occur
regardless of when money is exchanged
parameter query same query with different input
query a short string of code used to access and
retrieve specific information from a
database
cross stab query query that aggregates data to transform
rows of data into columns
wildcard query query used to locate all different variations
or when a person doesnt know how to spell
the demand

status query query used to determine status of the

project
benchmarking financial analysis software that provides
users with info that compares company's
financial erformance with other companies
ration analysis different numbers in a company's financial
statement
DuPont modeling software that helps the user to examine the
impact of each financial ration on return on
equity.
nearest neighbor method data mining technique that classifies data
records according to similar historical data
dashboard data mining tool that summarizes a
business's financial data and presents the
info in charts

artificial neural networks data mining technique used to review

financial records to identify potential errors
and questionable entries
data steward ensure integrity of an organization's data

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lending investments investments in which individuals allow

borrowers to use their money for a specific
time for a specified fee or rate of interest
ownership investments investments in which individuals purchase a
portion or all of an item aka stocks

PE ratio dividing last closing price of the stock by

the earnings per share
52- week high and low highest and lowest prices paid for the stock
in a year
net change difference between the closing price today
and the closing price yesterday

electronic data gathering and retrieval EDGAR;

employee stock ownership plan ESOP
"bottom line" net income

itemized deduction list certain expenses on their taz returns to

reduce amounnt of taxable income
credit union cooperatives that provide financial products
and services
sympathetic strike union pressure strategy
wild cat strike local unions refuse to work without consent
of national union
lock out company closes company temporarily and
the employess are not allowed to work
GRC 1. identifies and measures corporate risk
2. monitors risk management system
3. checks to see the employees are
following company wide policies
4. ensures compliance with gov and law

Basel II compliant banks are required to calculate and report

the risk weighted assets
six sigma determine methods to improve processes
1. define prob 2. measure aspects of
current process 3. analyze data 4. improve
processes 5. develop measures to monoitor
new process results
first in first out calculate inventory

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Securites exchange commission federal agency that regulates the financial

markets and protects the investing public
from fraud and malpractice
world bank provides money to developing countries

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