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Securities & Exchange Commission (SEC)


Definition: The primary government agency responsible for ensuring that companies who offer securities such as stocks and bonds to the public, and the exchanges and places at which these are traded, treat investors fairly.

Secured bond


Definition: A bond with the added assurance that, if the company does not make the required payments, holders may take a company asset and sell it to acquire the money needed to pay themselves what they’re owed.

Sarbanes Oxley Act


Definition: Enacted in 2002, and sometimes abbreviated to Sarbox or just Sox, the law that was created to prevent corporate implosions such as those at Enron, Worldcom, and Adelphia Communications. The law put stricter rules on corporate Boards of Directors, executives of corporations, and their auditors (ie: independent firms that check corporations’ financial records).

Salvage value


Definition: The dollar value that a company estimates newly-purchased equipment will have at the end of its useful life.



Definition: The total amount of money that customers have paid (or agreed to pay) for the products and services a company has provided in a given period. This dollar amount is shown on the top line of the company’s periodic Income Statements. It is often interchanged with the term Revenue.



Discussed under: Sales.

Residual owner


Definition: A way to refer to shareholders in a corporation which reinforces the fact that if the company goes out of business (ie, liquidates), they will only get what’s left over (ie, the residue) after every one else is paid the money they are owed.