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

Tangible Asset
An asset whose value depends on particular physical properties. These include reproducible assets su

Tangible Equity
An asset that represents a physical object such as land, furniture, and buildings. Under accounting

Tangible Net Worth
Equity less intangible assets. See the ratios of debt to tangible equity, fixed assets to tangible e

Tape
Total assets minus intangible assets, which include patents and copyrights, and total liabilities.

Tape Is Late
(1) Service that reports prices and sizes of transactions on major exchanges-ticker tape. (2) Dow Jo

Target Cash Balance
When the trading volume is so heavy that trades appear on the tape more than a minute behind the tim

Target Company
Optimal amount of cash for a firm to hold, considering the trade-off between the opportunity costs o

Target Firm
Often used in risk arbitrage. Firm chosen as an attractive takeover candidate by a potential acquire

Target Payout Ratio
A firm that is the object of a takeover by another firm.

Target Price
A firm's long-run dividend-to-earnings ratio. The firm's policy is to attempt to pay out a certain p

Target Zone Arrangement
In the context of takeovers, the price at which an acquirer aims to buy a target firm. In the contex

Targeted Repurchase
Bonds offered as a tranche class of some CMOs, according to a sinking fund schedule. They differ fro

Tariff
Buying back of a firm's stock from a potential acquirer, usually at a substantial premium, to forest

Tax And Loan Account
A tax on imports or exports.

Tax Anticipation Bills (Tabs)
An account at a private bank, held in the name of the district Federal Reserve Bank, which holds ope

Tax Anticipation Notes (Tans)
Special bills that the Treasury occasionally issues that mature on corporate quarterly income tax da

Tax Audit
Notes issued by states or municipalities to finance current operations in anticipation of future tax

Tax Avoidance
Audit by the IRS or other tax-collecting agency to determine whether a taxpayer has paid the correct

Tax Base
Minimizing tax burden through legal means such as tax-free municipal bonds, tax shelters, IRA accoun

Tax Basis
The assessed value of the taxable property, assets, and income within a specific geographic area.

Tax Books
In the context of finance, the original cost of an asset less depreciation that is used to determine

Tax Bracket
Records kept by a firm's management that follow IRS rules. The books follow Financial Accounting Sta

Tax Clawback Agreement
The percentage of tax obligation for a particular taxable income.

Tax Credit
An agreement to contribute as equity to a project the value of all previously realized project-relat

Tax Deduction
A direct dollar-for-dollar reduction in tax allowed for expenses such as child care and R&D for buil

Tax Deferral Option
An expense that a taxpayer is allowed to deduct from taxable income.

Tax Evasion
Legislation to increase tax revenue by eliminating various taxation loopholes and instituting toughe

Tax Free Acquisition
Illegal by reducing tax burden by underreporting income, overstating deductions, or using illegal ta

Tax Haven
A merger or consolidation in which (1) the acquirer's tax basis on each asset whose ownership is tra

Tax Liability
A nation with a moderate level of taxation and/or liberal tax incentives for undertaking specific ac

Tax Lien
The amount in taxes a taxpayer to the government.

Tax Loss Carryback, Carryforward
The right of the government to enforce a claim against the property of a person owing taxes.

Tax Planning
A tax benefit that allows business losses to be used to reduce tax liability in previous and or foll

Tax Preference Item
Devising strategies throughout the year in order to minimize tax liability, for example, by choosing

Tax Preparation Services
Items that must be included when calculating the alternative minimum tax.

Tax Rate
Firms that prepare tax returns for a fee.

Tax Rate Percentage
The percentage of tax paid for different levels of income.

Tax Reform Act Of 1976
The percent of pretax income deducted for corporate income taxes (prorated for calendar years if fis

Tax Reform Act Of 1984
Legislation aimed at tightening provisions relating to taxation, including changes in the capital ga

Tax Reform Act Of 1986
Legislation enacted as part of the Deficit Reduction Act of 1984 to reduce the federal budget defici

Tax Refund
A 1986 law involving a major overhaul of the U.S. tax code.

Tax Schedules
Money back from the government when too much tax has been paid or withheld from a salary.

Tax Selling
Tax forms used to report itemized deductions, dividend and interest income, profit or loss from a bu

Tax Shelter
Selling of securities to realize losses that will offset capital gains and reduce tax liability. See

Tax Shield
Legal methods taxpayers can use to reduce tax liabilities. An example is the use of depreciation of

Tax Software
The reduction in income taxes that results from taking an allowable deduction from taxable income.

Tax Status Election
Computer software designed to assist taxpayers in filling out tax returns and minimizing tax liabili

Tax Straddle
The decision of the status under which to file a tax return. For example, a corporation may file as

Tax Swap
Technique used in futures and options trading to create tax benefits. For example, an investor with

Tax Umbrella
Swapping two similar bonds to receive a tax benefit.

Tax-Deductible
Any transaction that is not tax-free to the parties involved, such as a taxable acquisition.

Tax-Deferred Retirement Plans
The effect of creating a tax deduction, such as charitable contributions and mortgage interest.

Tax-Equivalent Yield
Employer-sponsored and other plans that allow contributions and earnings to be made and accumulate t

Tax-Exempt Money Market Fund
Levies on the annual income of a business imposed by federal and state governments. On the income st

Tax-Exempt Sector
A money market fund that invests in short-term tax-exempt municipal securities.

Tax-Exempt Security
The municipal bond market where state and local governments raise funds. Bonds issued in this sector

Tax-Timing Option
Legislation forming part of a larger act designed to balance the federal budget. Some of the legisla

Taxable Acquisition
Tax loss carryforwards from previous business losses that form a tax shelter for profits earned in c

Taxable Estate
A merger or consolidation that is not a tax-fee acquisition. The selling shareholders are treated as

Taxable Event
That portion of a deceased person's estate that is subject to transfer tax.

Taxable Income
An event or transaction that has a tax consequence, such as the sale of stock holding that is subjec

Taxable Municipal Bond
Gross income less a variety of deductions.

Taxable Transaction
Taxed private-purpose bonds issued by the state or local government to finance prohibited projects s

Taxes
The pre-tax yield required from a taxable bond in order to equal the tax-free yield of a municipal b

Taxpayer Relief Act Of 1997
An obligation whose interest is tax-exempt, often called a municipal bond, offered by a country, sta

Tear Sheet
The option to sell an asset and claim a loss for tax purposes or not sell the asset and defer the ca

Teaser Rate
A page from an S&P stock that provides information on thousands of stocks, often sent to prospective

Technical Analysis
A low initial interest rate on an adjustable-rate mortgage to entice borrowers, that is later elimin

Technical Analysts
Security analysis that seeks to detect and interpret patterns in past security prices.

Technical Condition Of A Market
Also called chartists or technicians, analysts who use mechanical rules to detect changes in the sup

Technical Descriptors
Demand and supply factors affecting price, in particular, the net position, either long or short, of

Technical Insolvency
Variables that are used to describe the market in terms of patterns in historical data.

Technical Rally
Default on a legal obligation of the firm. Technical insolvency occurs when a firm doesn't pay a bil

Technical Sign
Short rise in securities or commodities futures prices in the face of a general declining trend. Suc

Technician
A short-term trend in the price movement of a security that analysts recognize as significant.

TED Spread
Related

Teenyo
Difference between U.S. Treasury bill rate and Eurodollar rate; used by some traders as a measure of

Tel Aviv Stock Exchange
1/16 or 0.0625 of one full point in price. Steenth.

Telephone Switching
Israel's only stock exchange.

Temporal Method
Moving one's assets from one mutual fund or variable annuity to another by telephone.

Temporary Investment
A currency translation method under which the choice of exchange rate depends on the underlying meth

Tenant
A short-term investment, such as a money market fund, Treasury bills, or short-term CD, which is usu

Tenbagger
A partial owner of a security, or the holder of some property. See

Tender
A stock that grows in value ten-fold.

Tender Offer
To offer for delivery against futures.

Tender Offer Premium
General offer made publicly and directly to a firm's shareholders to buy their stock at a price well

Tenor
The premium offered above the current market price in a tender offer.

Term
Maturity of a loan.

Term Bonds
The period of time during which a contract is in force.

Term Certificate
Bonds whose principal is payable at maturity. Often referred to as bullet-maturity bonds or simply b

Term Fed Funds
A certificate of deposit with a longer time to maturity.

Term Insurance
Fed funds sold for a period of time longer than overnight.

Term Life Insurance
Provides a death benefit only, no build up of cash value.

Term Loan
A contract that provides a death benefit but no cash build up or investment component. The premium r

Term Premiums
A bank loan, typically with a floating interest rate, for a specified amount that matures in between

Term To Maturity
Excess of the yields to maturity on long-term bonds over those of short-term bonds.

The Curb
The time remaining on a bond's life, or the date on which the debt will cease to exist and the borro

The Merc
Used for listed equity securities. American Stock Exchange (AMEX).

The Public
Shorthand for Chicago Mercantile Exchange.

Tombstone
Individual investors who trade single securities independently or invest in intermediaries such as m