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DECA Business Finance series

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
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
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
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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