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Superglossary - Finance Category: Economy and Finance > Finance Date & country: 16/12/2013, USA Words: 5410

Net Cash Balance
Beginning cash balance plus cash receipts minus cash disbursements.

Net Cash Provided By Operations
On a cash flow statement, net income plus non-cash transactions and the net amount of changes in ope

Net Change
This is the difference between a day's last trade and the previous day's last trade.

Net Current Assets
The difference between current assets and current liabilities, also known as working capital.

Net Errors And Omissions
In balance of payments accounting, net errors and omissions record the statistical discrepancies tha

Net Financing Cost
Also called the cost of carry or, simply, carry, the difference between the cost of financing the pu

Net Float
Sum of disbursement float and collection float.

Net Income
Total revenues minus total expenses, including taxes and depreciation, for a specified time. Also kn

Net Income
The company's total earnings, reflecting revenues adjusted for costs of doing business, depreciation

Net Income Before Taxes
Total revenues minus total expenses except the income tax expense, for a specified time. Also known

Net Interest Cost (NIC)
The total amount of interest that will be paid on a debt obligation by a corporate or municipal bond

Net Investment
Gross, or total, investment minus depreciation.

Net Investment Income Per Share
Income received by an investment company from dividends and interest on investments less administrat

Net Lease
A lease arrangement under which the lessee is responsible for all property taxes, maintenance expens

Net Operating Loss (NOL)
The excess of business expenses over income in a given tax year.

Net Operating Losses
Losses that a firm can take advantage of to reduce taxes.

Net Operating Margin
The ratio of net operating income to net sales.

Net Parity
Antithesis of gross parity.

Net Period
The period of time between the end of the discount period and the date payment is due.

Net Position
The value of the position subtracting the initial cost of setting up the position. For example, if 1

Net Present Value (NPV)
The present value of the expected future cash flows minus the cost.

Net Present Value (NPV)
A measure of a project's future value in current dollars. Future income and expenses are summed and

Net Present Value Rule
An investment is worth making if it has a positive NPV Projects with negative NPVs should be rejecte

Net Proceeds
Amount received from the sale of an asset after deducting all transaction costs.

Net Profit Margin
Net income divided by sales; the amount of each sales dollar left over after all expenses have been

Net Property, Plant And Equipment
Gross property, plant and equipment minus accumulated depreciation. This number represents that port

Net Quick Assets
Cash, marketable securities, and accounts receivable less current liabilities.

Net Sales
Sales revenue less sales discounts and credit card fees.

Net Sales
Gross sales less returns and allowances, freight out, and cash discounts allowed.

Net Sales Transaction
Refers to over-the-counter trading. Securities deal in which the quoted prices include commissions (

Net Salvage Value
The after-tax net cash flow for terminating the project.

Net Tangible Assets Per Share
All of a company's assets except patents, trademarks, and other intangible assets minus all liabilit

Net Transaction
A securities transaction in which no commissions or extra fees are paid, such as in an initial publi

Net Working Capital
Current assets minus current liabilities. Often simply referred to as working capital.

Net Worth
Common stockholders' equity which consists of common stock, surplus, and retained earnings.

Net Yield
The rate of return on a security minus purchase costs, commissions, or markups.

Netting
Reducing transfers of funds between subsidiaries or separate companies to a net amount.

Netting Out
To get or bring in as a net; to clear as profit.

Neutral Hedge
Hedge that is expected to yield a dollar-neutral result of the combined position, regardless of pric

Neutral Period
In the Euromarket, a period over which Eurodollars are sold is said to be neutral if it does not sta

New Account Report
A broker's document including information about a new client. See

New High-New Low
A stock valued at its highest or lowest price in the last year.

New Issue
Securities that are publicly offered for the first time, whether in an IPO or as an additional issue

New Listing
A security that has just been entered on a stock or bond exchange for trading.

New Money
In a Treasury auction, the amount by which the par value of the securities offered exceeds that of t

New York Cotton Exchange (NYCE)
Commodities exchange in New York trading futures and options on cotton, frozen concentrated orange j

New York Futures Exchange (NYFE)
A wholly owned subsidiary of the NYSE that trades futures and futures options on the NYSE composite

New York Stock Exchange (NYSE)
Also known as the Big Board or the Exchange.

New Zealand Stock Exchange
Automated, screen-based national trading system based in Wellington.

New-Issues Market
The market in which a new issue of securities is first sold to investors. This is not a separate mar

News Out
Refers to over-the-counter trading. A news story concerning the stock being considered has recently

Next Day Settlement
Transaction in which the contract is settled the day after the trade is executed. See

Next Futures Contract
The contract settling immediately after the nearby futures contract.

Nexus (Of Contracts)
A set or collection of something.

Nics
Newly Industrialized Countries, which are countries with high-growth industrial economies, such as H

Nifty Fifty
Institutional investor' 50 most popular stocks.

Nikkei Stock Average
Applies mainly to international equities. Price-weighted average of 225 stocks of the first section

Nine-Bond Rule
An NYSE rule requiring that orders for nine bonds or fewer stay on the floor for one hour to seek a

NM
Abbreviation for 'not meaningful'.

No Autex
Used in the context of general equities. 'No buy or sell interest should be entered into the Autex (

No Book
Used for listed equity securities. Not much, if any, stock is being bid for or offered at the presen

No-Action Letter
A letter from the Securities and Exchange Commission agreeing that the commission will take no civil

No-Brainer
A market in which it does not take very complex analysis to figure out how securities are going to p

No-Load Fund
A mutual fund that does not impose a sales commission. Related

No-Load Mutual Fund
An open-end investment company whose shares are sold without a sales charge. There can be other dist

No-Load Stock
Shares that can be purchased from the issuing companies themselves, so that broker fees and commissi

No-Par-Value Stock
A stock with no par value given in the charter or stock certificate.

NOB Spread
Notes over bonds spread. This is the difference in yield between Treasury notes (maturing in 2 to 10

Noise
Price and volume fluctuations that can confuse interpretation of market direction. Used in the conte

Nominal
In name only. Differences in compounding cause the nominal rate to differ from the effective interes

Nominal Annual Rate
An effective rate per period multiplied by the number of periods in a year. Same as annual percentag

Nominal Cash Flow
A cash flow expressed in nominal terms if the actual dollars to be received or paid out are given.

Nominal Dollars
Dollars that are not adjusted for inflation.

Nominal Exchange Rate
The actual foreign exchange quotation in contrast to the real exchange rate, which has been adjusted

Nominal Exercise Price
The exercise price of a GNMA option contract, which equals the unpaid principal balance multiplied b

Nominal Income
Income that has not been adjusted for inflation and decreasing purchasing power.

Nominal Interest Rate
The interest rate unadjusted for inflation.

Nominal Price
Price quotations on futures for a period in which no actual trading took place.

Nominal Quotation
Used in the context of general equities. Bid and offer prices given by a market maker for the purpos

Nominal Yield
The income received from a fixed income security in one year divided by its par value. See also

Nominee
A person or firm to whom securities or other properties are transferred to facilitate transactions,

Non-Current Assets
Assets that are not convertible to cash within one year in the normal course of business. Property a

Non-Current Liabilities
Obligations that will not come due within one year of the current date. See also current liabilities

Non-Operating Expense
Expenses not related to the ongoing operations of a company; for example, interest expense, one-time

Non-Operating Income
Income not related to the ongoing operations of a company; for example, interest income and sale of

Nonaccredited Investor
Wealthy, sophisticated investors who do not meet SEC net worth requirements. These investors require

Noncallable
A preferred stock or bond that cannot be redeemed whenever desired by the issuer.

Noncash Charge
A cost, such as depreciation, depletion, and amortization, that does not involve any cash outflow.

Nonclearing Member
An exchange member firm that is not able to clear transactions, and must pay another member firm to

Noncompete
A provision in a number of employment contracts that prohibits an employee from working for a compet

Noncompetitive Bid
In a Treasury auction, bidding for a specific amount of securities at the price, whatever it may tur

Noncontributory Pension Plan
A pension plan that is fully paid for by the employer, requiring no employee contributions.

Noncumulative
Applies mainly to convertible securities. Type of preferred stock on which unpaid or omitted dividen

Noncumulative Preferred Stock
Preferred stock whose holders must forgo dividend payments when the company misses a dividend paymen

Noncurrent Asset
Any asset that is expected to be held for the whole year, not sold or exchanged, such as real estate

Noncurrent Liability
A liability due in one year.

Nondiscretionary Trust
A personal trust whose trustee has no discretion in deciding how income will be distributed to the b

Nondiversifiable Risk
Risk that cannot be eliminated by having a large portfolio of many assets.

Nonfinancial Assets
Physical assets such as real estate and machinery.

Nonfinancial Services
Such things as freight, insurance, passenger services, and travel.