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Face validity

Making a decision regarding the appropriateness of a test or other assessment instrument based on appearance rather than objective criteria.


Factor analysis

Any of several methods used for reducing correlated data to a smaller number of factors; beginning with a correlation matrix, a small number of factors considered to be the basic variables accounting for interrelations in the data are extracted.


Fat organization

An organization with a structure consisting of several layers of management.


Feasibility study

A study designed to discover if a business, product, project or process justify the investment of time, money and other resources.


Federal reserve bank

One of 12 regional banks established to maintain reserves, issue bank notes and lend money to member banks.



A person, company or association that stands in a special relation of trust, confidence or responsibility and is responsible for holding assets in trust for a beneficiary.


Financial Accounting Standards Board (FASB)

A free-standing private sector agency, supported by the accounting profession, that establishes and improves standards of financial accounting and reporting for the guidance and education of the public, including issuers, auditors and users of financial information.


Financial assets

Financial assets such as stocks, bonds, cash and marketable securities that derive value because of a contractual claim.


Financial audit

A review of a companys financial position serving as confirmation that a companys financial statements are accurate.


Financial budget

A budget that contains a companys balance sheet detailing how a particular operations plan will affect company resources and liabilities.


Financial statement

A report containing financial information derived from an organizational accounting record.


First-in first-out (FIFO) method of inventory accounting

An inventory valuation technique that presumes inventory first purchased is first used or sold.


Fiscal policy

Determinations made by the President and Congress, involving issues such as taxation and government spending, in order to achieve full employment, price stability and economic growth.


Fixed annuity

An insurance contract guaranteeing a fixed payment to an annuitant for the term of the contract.


Fixed assets

An accounting term used to describe tangible property used in the day-to-day operation of a business. Typically includes items such as real estate, equipment, machinery, fixtures and furnishings.


Fixed budget

A type of budget that is developed based solely on fixed costs and does not alter with fluctuations in activity.


Fixed budgeting

A budgeting technique that attempts to isolate the factors connected with increases or decreases in costs or changes in the volume of products or services being produced.


Fixed costs

The day-to-day costs of doing business that dont fluctuate based on the number of goods produced.


Fixed rate

A loan whereby the interest rate remains constant and does not fluctuate over the term of the loan.


Fixed year

A term used to describe an invariable year such as a calendar or fiscal year.


Flat organization

An organization characterized by having only a few layers of management from top to bottom.



A business analysis conducted in order to assess what future trends are likely to happen, especially in connection with a particular situation, function, practice or process that is likely to affect the organizations business operations.


Foreign Corrupt Practices Act(FCPA)

This act prohibits U.S. persons and firms from making corrupt payments to foreign officials for the purpose of obtaining and retaining business.


Foreign exchange

The use of paper currency, notes and checks to make payments between countries.


Foreign exchange rate

The rate used to determine the conversion rate from one currency to another.


Form 5500 filing

An annual return used to report information concerning employee benefits plans and Direct Filing Entities (DFEs). Employee benefits plan Administrators or sponsors subject to ERISA must file information about each plan on an annual basis.


Fortune 500

An annual listing of the 500 largest industrial companies in the United States, ranked based on their revenues, profits and market value.


Forward pricing

The price specified in a forward contract for a good or service.


Free Trade Agreement (FTA)

A trade agreement between two or more countries to permit economic goods to flow across their borders free from tax tariffs.


Frequency distribution

A statistical description of ra w data in terms of the number of items characterized by each of a series of values of a continuous variable.


Full costs

A cost management and cost-benefit analysis of the sum of direct and indirect costs. Costs and advantages may be considered in terms of environmental, economical and social impacts.


Future payment index (FPI)

A key financial metric, created by Dun and Bradstreet Corporation,that measures the extent of potential risk that a company will run into payment difficulties in the subsequent six- to 12-month period.

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