Copy of `Oesterreichische Nationalbank - Dictionary`

The wordlist doesn't exist anymore, or, the website doesn't exist anymore. On this page you can find a copy of the original information. The information may have been taken offline because it is outdated.

Oesterreichische Nationalbank - Dictionary Category: Economy and Finance Date & country: 04/10/2008, AU Words: 3913

amortization
The gradual writing off of an asset according to a predetermined schedule. Most often applied to intangible assets such as goodwill. Does not involve any disbursement of cash....

amortization
The periodic allocation of the cost of intangible assets, such as patents, copyrights, and trademarks, is called amortization. The amortization period should not exceed 40 years (GAAP)....

amortization
writing off an intangible asset investment over the projected life of the assets....

amortized cost
That part of the value of an asset that has been written off; it represents the accumulated depreciation to date. (Dictionary of Business: Oxford University Press, © Market House Books Ltd 1996)...

amortized cost
Under the amortized cost method, portfolio securities are valued by reference to their acquisition cost as adjusted for amortization of premium or accretion of discount....

amortized cost methodology
Most accounting for investments follows the amortized cost methodology. With this method investment income was reported on an accrual basis as coupon income was received. The premium paid for securities over par (100) would be amortized equally over the life of the bond. The amortization for the period was subtracted from the beginning amortized co...

amounts outstanding
The amount outstanding is the stock of securities at the end of the period....

analytical auditing procedure
Analytical auditing procedures are performed by studying and comparing relationships among both financial and nonfinancial information. The application of analytical auditing procedures is based on the premise that, in the absence of known conditions to the contrary, relationships among information may reasonably be expected to exist and continue....

ancillary labor pool
ancillary labor: ... workers not actually in a labor market such as retirees, separating military personnel, students or spouses that have no record of seeking a job in a market under analysis labor, a classification of auxiliary workers counted in a labor pool for their potential as workers. Labor pools containing potential supplemental workers ar...

ancillary worker
General Ancillary Worker: A worker whose duties are confined to the following; collection, distribution, control of shopping trolleys and baskets, packing of customers` purchases, tidying, sweeping and cleaning etc....

anecdotal evidence
Evidence based on haphazardly selected individual cases, which often come to our attention because they are striking in some way. These cases often are not representative of any larger group of cases....

angel investor
A financial backer providing venture capital funds for small startups or entrepreneurs. In most cases this is a friend or family member....

announcement effect
The effect of an announcement of a change in policy, even before it is actually put into effect. For example, a promise by the government to reduce taxes next year may lead to an immediate increase in consumer spending, or an immediate rise in interest rates. Policy announcement can produce such effects only if the policy-maker has some credibility...

annual accounts
Is the yearly statement of financial condition for a financial organization. It includes balance sheet and income statement items. It may also include a descriptive synopsis of organizational highlights....

annual percentage rate of charge
The annual percentage rate of charge which shall be that rate, on an annual basis which equalizes the present value of all commitments (loans, repayments and charges), future or existing, agreed by the creditor and the borrower, shall be calculated in accordance with the mathematical formula set out in Annex II. 98/7/EC...

annualized agreed rate
The type of rate that reporting agents shall provide for all instrument categories of deposits and loans referring to new business and outstanding amounts is the annualised agreed rate. It shall be defined as the interest rate that is individually agreed between the reporting agent and the household or non-financial corporation for a deposit or loa...

annualized hours
A means of achieving flexibility in working time and adapting working hours to operational requirements. The contract allows the employer to vary the number of hours worked in a defined period (day, week, month, quarter) within a context of an agreed standard number of working hours for the year. Also known as annualised hours contract....

annuity
A mechanism that enables a person to turn lifetime savings into a steady stream of payments. It is not protected from inflation, and payments stop with the death of the recipient; there are no benefits for survivors....

Anstaltslast
requires the owner of a public entity to ensure its solvency at all times...

Anstaltslast
The Anstaltslast obliges the owners to make sure that the banks always have enough money to pay their creditors on time....

Anton Piller (Order)
An Anton Piller Order is a form of private search warrant that restrains the defendant from disposing property or evidence - typically where its preservation is critical to proving a case against the defendant. It allows the plaintiff access to specified premises to search for and secure that property and evidence....

aperitif
Aperitifs - Aperitifs, or appetizer wines, are generally served before meals. Champagne and sherries are traditional aperitifs, and light white wine is also appropriate....

applicant country
A country which has applied for membership in accordance with Art. 49 of the EU Treaty....

apportion
separate/divide up and distribute/allot....

apprentice
A young employee who signs a contract (an indenture or articles of apprenticeship) agreeing to be trained in a particular skill for a set amount of time by a specific employer. During this time the wages will be relatively low but on completion of the apprenticeship they increase to reflect the increased status of the employee and to recognize the ...

apprentice indenture
The Apprentice Indenture is rather an unusual document in that two copies of this document were originally made on one piece of paper and then cut in two. The matching of one copy to the other at any later date would prove the validity of such a document....

apprenticeship
A system of training undergone by youths entering on a trade or craft....

APSS
Austrian Payment Systems Services (APSS) GmbH, ... Europay Austria....

arbitrage
The act of buying a currency or other commodity in one market and simultaneously selling it in another market at a higher price. Arbitrage is an important force in eliminating the price discrepancy, thereby making markets function more efficiently....

arbitrage opportunity
An arbitrage opportunity is the opportunity to buy an asset at a low price then immediately selling it on a different market for a higher price....

ARCH
A statistical procedure in which the dependent variable in a regression equation is modeled as a function of the time-varying properties of the error term. See Generalized Auto-Regressive Conditional Heteroskedasticity (GARCH) Model. ifciGL...

archetype
An archetype is the transcendent `original` that numerous species that have an affinity of design approximate, according to the transcendentalist philosophy that preceded Darwin. The term literally means `ruling kind`. A term used to describe archetypes is the German Bauplan, meaning `blueprint` or `building plan`. Nowadays this German term has los...

architecture of Europe
This refers to the various organisations, institutions, treaties and traditional relations making up the European area within which members work together on problems of shared interest. An essential part of this architecture was established by the Treaty on European Union, which formed three pillars: the European Community (first pillar), the commo...

arctic char
CHARR, ARCTIC Salvelinus alpinus. Other names for the sea-going fish: char, red charr; Cree: awanans; Danish: fjeldørred; French: omble che-valier; German: saibling; Greenlandic: eqaluk; Icelandic: bleikja: Inuit: iqalugaq, iqaluk, ilkalupik, ivisaaruq, kisuajuq, majuqtuq, nutiliarjuk, situajuq, situliqtuq, tisuajuq; Japanese: iwana; Norwegian: ar...

arithmetic mean
The arithmetic mean is what is commonly called the average: When the word `mean` is used without a modifier, it can be assumed that it refers to the arithmetic mean. The mean is the sum of all the scores divided by the number of scores. The formula in summation notation is: where µ is the population mean and N is the number of scores. If the score...

arithmetic mean
The value obtained by dividing the sum of a set of quantities by the number of quantities in the set. Also called `average.`...

arm`s length principle
`transaction carried out by unrelated or unaffiliated parties, as by a willing buyer and a willing seller, each acting in his own self-interest. Pricing based on such transactions is the basis of fair market valuations. Transactions involving parent companies and subsidiaries are not made at arm`s length.`...

arm`s-length transaction
A transaction between two parties who were not previously related or affiliated in any manner, to avoid any question of a conflict of interest....

ARMA
Autoregressive Moving Average. A time-series model that includes both AR and MA components...

ARMA
In statistics, autoregressive moving average (ARMA) models, sometimes called Box-Jenkins models after the iterative Box-Jenkins methodology usually used to estimate them, are typically applied to time series data. Given a time series of data Xt, the ARMA model is a tool for understanding and, perhaps, predicting future values in this series. The mo...

articles of association
The Articles of Association of a company, often simply referred to as the Articles, are the regulations governing the relationships between the shareholders and directors of the company, and are a requirement for the establishment of a company under the law of the United Kingdom and many other countries. Together with the Memorandum of Association ...

articles of incorporation
The charter (also sometimes called the articles of incorporation, or articles) is the grant of corporate existence, the birth certificate of the corporation. This formal document, executed by the state through its corporation commission, is the source of corporate authority. Also, the charter is a public document....

ARTIS
Austrian Real-Time Interbank Settlement System; the Austrian component of TARGET...

arugula
A Mediterranean plant, with green, multiple-lobed leaves, belonging to the mustard family and commonly used as a salad green. It has a hot, peppery, sharp taste and is a very popular ingredient for Italian dishes. The seeds of the plant are used for flavoring oils, while the greens are good complements to salads, soups, sandwiches, and a variety of...

as is
A sale of goods by sample `as is` requires that the goods be of the kind and quality represented, even though they may be in a damaged condition. Use of expression in sales agreement that goods are sold `as is` implies that buyer takes the entire risk as to the quality of the goods involved and he must trust to his own inspection. Implied and expre...

as is
sold in a possibly defective condition and bought with no promises except that the thing is as as seen and as described...

as is
without guarantees as to condition...

Asia-Europe Meeting (ASEM)
ASEM (the Asia-Europe Meeting) is an informal process of dialogue and cooperation bringing together the fifteen EU Member States and the European Commission, with ten Asian countries (Brunei, China, Indonesia, Japan, South Korea, Malaysia, the Philippines, Singapore, Thailand, and Vietnam). The ASEM dialogue addresses political, economic and cultur...

ask
The lowest price that any investor or dealer has declared that he/she will sell a given security or commodity for. For over-the-counter stocks, the ask is the best quoted price at which a Market Maker is willing to sell a stock. For mutual funds, the ask is the net asset value plus any sales charges....

assessed value
ASSESSED VALUE (AV) - The value of a property subject to tax. Assessed value equals full cash value multiplied by the assessment ratio....

asset price channel
one channel (macroeconomic) by which monetary policy impulses may be transmitted; ultimately affects output (Y)....

asset stripping
The selling off of certain assets separately, on the theory that the individual assets are worth more than the whole....

asset-liability management
ALM basically means managing assets and liabilities in a coordinated manner, in other words balancing the capital investment portfolio (assets) against the actuarial liabilities that arise from the products the insurance company sells....

asset-or-nothing option
A non-standard option with a payout equal to the value of the underlying asset if the price of the asset exceeds the strike at expiration. If the value of the asset falls below the strike, the holder of the option receives nothing. While the holder of the option pays a premium at the time the trade is initiated, there is no payment of an exercise p...

assets
Any item of economic value - a house, a car, jewelry, stocks and bonds, cash, office equipment and other kinds of property. Sometimes the word is used in a different sense, to refer to a positive characteristic - like beauty, strength or wisdom....

assets of a pension fund
These are everything that the trustees hold for the pension scheme. They can include investments, bank balances, and debtors....

assignment
The transfer of ownership of an item from one person to another. The `item` may be tangible or intangible - for instance the benefit of a contract can be assigned from one of the contracting parties to another (unless the contract forbids assignment)....

assignment of claims
Assignments of claims against State. (a)Definitions. - The following definitions apply in this section: (1) Assignment. An assignment or transfer of a claim, or a power of attorney, an order, or another authority for receiving payment of a claim....

assistant professor
The individual shall meet the standards which govern appointment to the rank of Instructor and shall normally possess the commonly accepted terminal degree in the subject matter area. In addition, the person should exhibit clear evidence of potential for excellence in teaching, research, or other scholarly activity. Assistant Professors have facult...

assisted living
Residences that provide a `home with services` and that emphasize residents` privacy and choice. Residents typically have private locking rooms (only shared by choice) and bathrooms. Personal care services are available on a 24-hour-a-day basis. (Licensed as residential care facilities or as rest homes.)...

associate
Associates: An associate company is one over which the company has the ability to exercise significant influence, but not control, and which it intends to hold as a long-term investment....

associate company
The term `associate company` of a company means any company in the same holding company system with such company....

associated company
A company where another company owns between 20% and 50% of the ordinary (voting) shares....

Association Agreement
The Europe Agreements cover trade-related issues, political dialogue, legal approximation and other areas of cooperation, including industry, environment, transport and customs. They aim progressively to establish a free-trade area between the EU and the associated countries over a given period, on the basis of reciprocity but applied in an asymmet...

Association Agreement
The legal framework for the relationship between the European Community and Cyprus, Malta and Turkey are the Association Agreements, which date back to the sixties and early seventies. ... In contrast to the more recent Europe Agreements, these early Association Agreements do not provide for political dialogue....

asymmetric cryptography
a set of cryptographic techniques in which two different keys (private and public keys) are used for encrypting and decrypting data. The private key is kept secret by its holder while the public key is made available to communicating entities. Also called public key cryptography....

Asymmetric Digital Subscriber Line
Like ISDN, ADSL uses standard phone lines to deliver high-speed data communications. But while ISDN`s transmission speed is limited to 64 kbps, ADSL technology can deliver upstream (from the user) speeds of 640 kbps and downstream (to the user) speeds of more than 6 mbps. Even better, ADSL uses the portion of a phone line`s bandwidth not utilized b...

Atlantic Alliance
another way of talking about NATO....

ATM card
A plastic card enabling the holder to access an automated teller machine to obtain cash and statements....

attractive price
Attractive (i.e. psychological, fractional and round prices, after conversion in euro, are rounded upward to the next attractive euro price. Summary of NCBs` surveys on the impact of the euro cash changeover on prices and costs,...

audit objective
Audit objectives are broad statements developed by internal auditors and define intended audit accomplishments....

audit of assets
inventory-taking and review of assets in safekeeping, one of the tasks under the heading of the audit of assets, which also includes the destruction of assets and the establishment of safe custody holdings....

audit of assets
the audit of assets includes: inventory-taking and review of valuables in safekeeping, the destruction of valuables and the establishment of special safe custody holdings....

audit opinion
The audit opinion is a clear written expression of opinion on the financial statements as a whole. There are five types of opinions: unqualified opinion, unqualified opinion with an emphasis of matter, qualified opinion, disclaimer of opinion and adverse opinion....

audit procedure
Audit procedures are the task the internal auditor undertakes for collecting, analyzing, interpreting, and documenting information during an audit. Audit procedures are the means to attain audit objectives....

audit program
Audit program is a document which lists the audit procedures to be followed during an audit. The audit program also states the objectives of the audit....

Audit Task Force
Task forces of the Internal Auditors Committee (an ESCB committee) are often referred to by the acronym ATS plus the specific feature of the task force (ATF on Banknotes, ATF on IT, ...)...

Audit Task Force on Accounting
A task force of the Internal Auditors Committee (an ESCB committee)...

Audit Task Force on Banknotes
A task force of the Internal Auditors Committee (an ESCB committee)...

Audit Task Force on IT
A task force of the Internal Auditors Committee (an ESCB committee)...

Audit Task Force on Statistics
A task force of the Internal Auditors Committee (an ESCB committee)...

audit trail
A record showing who has accessed a computer system and what operations he or she has performed during a given period of time. Audit trails are useful both for maintaining security and for recovering lost transactions. Most accounting systems and database management systems include an audit trail component. In addition, there are separate audit tra...

audit trail
a sequential record of events having occurred in a system...

audit work schedule
Audit work schedules include (a) what activities are to be audited; (b) when they will be audited; (c) the estimated time required, taking into account the scope of the audit work planned and the nature and extent of audit work performed by others....

auditee
Auditee includes any individual, unit, or activity of the organization that is audited....

auditing
Is a process by which a competent, usually independent person accumulates and evaluates evidence about an entity or unit for specified purposes (e.g. financial, safety, environmental etc.) (Arens and Loebbecke 1991)....

auditors` opinion
A summary of the findings of a firm of certified public accountants that audits, or examines, a company`s financial statements. This report is included in the company`s annual report. Also called auditors` report and report of independent accountants....

augmented Dickey-Fuller test
augmented Dickey-Fuller test: An augmented Dickey-Fuller test is a version of the Dickey-Fuller test for a larger and more complicated set of time series models....

Austrian Bankers` Association
The task of the Austrian Bankers` association is to protect and promote the common professional interests of its members and foster econoic, scientific, technical and cultural institutions qualified to contribute to the advancement of the Austrian economy. Annual Report 1999,...

Austrian Commercial Code
Austrian Commercial Code (Handelsgesetzbuch, Unternehmensgesetzbuch - Firm Code as of 1.1.2007)...

Austrian Communciations Authority
In addition, RTR will also serve as the operating arm of the new regulatory authority for broadcasting, also known as the Austrian Communications Authority (`KommAustria`). OECD Austria review 2001...

Austrian Communciations Authority
independent regulatory authority...

Austrian Economic League
Wirtschaftsbund, Österreichischer, ÖWB, (Austrian Economic League), one of the three dominant sub-organisations of the Österreichische Volkspartei (Austrian People`s Party) along with the Österreichischer Bauernbund and the Österreichischer Arbeiter- und Angestelltenbund. Its members is mainly consist of entrepreneurs and freelancers; close persona...

Austrian Federal Financing Act
Federal Act as of December 4, 1992, Federal Legal Gazette Number 763/1992 as amended...

Austrian school of economics
The Austrian School is a school of economic thought that rejects opposing economists` reliance on methods used in natural science for the study of human action, and instead bases its formalism of economics on relationships through logic or introspection called `praxeology.` Its most famous adherents are Carl Menger, Eugen von Böhm-Bawerk, Friedrich...

Austrian State Treaty
State Treaty, Austrian, governing the re-establishment of an independent and democratic Austria, concluded between the allied powers USSR, Great Britain and Northern Ireland, USA and France on the one hand and Austria on the other, signed by the foreign ministers of the signatory states, V. M. Molotov, J. F. Dulles, H. Macmillan and A. Pinay and th...

Austrian State Treaty
The Austrian Independence Treaty (complete form: Treaty for the re-establishment of an independent and democratic Austria, signed in Vienna on the 15 May 1955), more commonly referred to as the Austrian State Treaty (German Staatsvertrag), was signed on May 15, 1955 in Vienna at the Schloss Belvedere between the Allied occupying powers: France, the...

authentication
Authentication is the process of verifying the identification of the true sender of a message and also that the text of the message itself has not been altered....

authentication
Authentication means a procedure established by agreement to determine whether a payment order or an amendment or revocation of a payment order was issued by the person indicated as the sender....

authentication
One of the objectives of cryptography: Assurance that a message has not been modified in transit or storage (message authentication or message integrity). Also key authentication for public keys. Also user or source identification, which may verify the right to send the message in the first place....