coproperty 56 coproperty
3. to ask for security against a loan which you are making
‘…three export credit agencies have agreed to provide cover for large projects in Nigeria’ [Business Times (Lagos)]
coverage
coverage /kv(ə)rid/ noun US protec- tion guaranteed by insurance 쑗 Do you have
coverage against fire damage?
‘…from a PR point of view it is easier to get press coverage when you are selling an industry and not a brand’ [PR Week]
covered option
covered option /kvəd ɒpʃ(ə)n/ noun an option the owner of which is also the owner of the shares for the option
cover note
cover note /kvə nəυt/ noun a letter from an insurance company giving details of an insurance policy and confirming that the policy exists
CP
CP abbreviation commercial paper
CPA
CPA abbreviation certified public account- ant
CPD
CPD /si pi di/ noun training and educa- tion that continues throughout a person’s career in order to improve the skills and
CPI 60
knowledge they use to do a job or succession of jobs. Full form continuing professional development
CPI
CPI abbreviation Consumer Price Index
creative accountancy
creative accountancy /kri|eitiv ə|
kaυntənsi/, creative accounting /kri|
eitiv ə|kaυntiŋ/ noun an adaptation of a company’s figures to present a better picture than is correct, usually intended to make a company more attractive to a potential buyer, or done for some other reason which may not be strictly legal
credit
credit /kredit/ noun 1. a period of time allowed before a customer has to pay a debt incurred for goods or services 쑗 to give
someone six months’ credit 쑗 to sell on good
credit terms 2. an amount entered in accounts to show a decrease in assets or expenses or an increase in liabilities, reve- nue or capital. In accounts, credits are entered in the right-hand column. 쑗 to enter
$100 to someone’s credit 쑗 to pay in $100 to
the credit of Mr Smith Compare debit 쐽
verb to put money into someone’s account, or to note money received in an account 쑗 to
credit an account with £100 or to credit £100 to an account
credit account
credit account /kredit ə|kaυnt/ noun an account which a customer has with a shop which allows him or her to buy goods and pay for them later
credit agency
credit agency /kredit eidənsi/ noun a company which reports on the creditworthi- ness of customers to show whether they should be allowed credit. Also called credit bureau
credit agreement
credit agreement /kredit ə|rimənt/ noun a document that sets out the terms under which credit is made available, or the agreement enshrined in such a document
credit analysis
credit analysis /kredit ə|nləsis/ noun the process of assessing a potential bor- rower’s creditworthiness
credit balance
credit balance /kredit bləns/ noun a balance in an account showing that more money has been received than is owed 쑗 The
account has a credit balance of £100.
credit bank
credit bank /kredit bŋk/ noun a bank which lends money
credit bureau
credit bureau /kredit bjυərəυ/ noun US same as credit agency
credit card
credit card /kredit kɑd/ noun a plastic card which allows someone to borrow money and to buy goods up to a certain limit without paying for them immediately, but only after a period of grace of about 25–30 days. 쒁 charge card
credit card holder
credit card holder /kredit kɑd həυldə/ noun a person who has a credit card
credit column
credit column /kredit kɒləm/ noun the right-hand column in accounts showing money received
credit control
credit control /kredit kən|trəυl/ noun a check that customers pay on time and do not owe more than their credit limit
credit controller
credit controller /kredit kən|trəυlə/ noun a member of staff whose job is to try to get payment of overdue invoices
credit entry
credit entry /kredit entri/ noun an entry on the credit side of an account
credit facilities
credit facilities /kredit fə|silitiz/ plural noun an arrangement with a bank or supplier to have credit so as to buy goods
credit freeze
credit freeze /kredit friz/ noun a period when lending by banks is restricted by the government
credit limit
credit limit /kredit limit/ noun the larg- est amount of money which a customer can borrow
credit line
credit line /kredit lain/ noun an over- draft, the amount by which a person can draw money from an account with no funds, with the agreement of the bank
credit note
credit note /kredit nəυt/ noun a note showing that money is owed to a customer 쑗
The company sent the wrong order and so had to issue a credit note. Abbreviation C/N
creditor
creditor /kreditə/ noun a person or com- pany that is owed money, i.e. a company’s creditors are its liabilities
creditor days
creditor days /kreditə deiz/ plural noun the number of days on average that a com- pany requires to pay its creditors. 쒁 debtor days
creditors
creditors /kreditəz/ plural noun a list of all liabilities in a set of accounts, including overdrafts, amounts owing to other compa- nies in the group, trade creditors, payments received on account for goods not yet sup- plied, etc.
creditors’ meeting
creditors’ meeting /kreditəz mitiŋ/ noun a meeting of all the people to whom an insolvent company owes money, to decide how to obtain the money owed
credit rating
credit rating /kredit reitiŋ/ noun an amount which a credit agency feels a cus- tomer will be able to repay
credit reference
credit reference /kredit ref(ə)rəns/ noun a credit rating or other indication of the creditworthiness of a company or individual
credit-reference agency
credit-reference agency /kredit refər(ə)ns eidənsi/ noun same as credit agency
61 cumulative interest credit report
credit report /kredit ri|pɔt/ noun infor- mation about an individual or entity relevant to a decision to grant credit
credit risk
credit risk /kredit risk/ noun a risk that a borrower may not be able to repay a loan
credit side
credit side /kredit said/ noun the right- hand column of accounts showing money received
credit squeeze
credit squeeze /kredit skwiz/ noun a period when lending by the banks is restricted by the government
credit union
credit union /kredit junjən/ noun a group of people who pay in regular deposits or subscriptions which earn interest and are used to make loans to other members of the group
creditworthiness
creditworthiness /kredit|wðinəs/ noun the extent to which an individual or organisation is creditworthy
creditworthy
creditworthy /kreditwði/ adjective judged as likely to be able to repay money borrowed, either, in the case of an individ- ual, by a credit reference agency, or, in the case of an organisation, by a credit rating agency 쑗 We will do some checks on her to
see if she is creditworthy.
crisis
crisis /kraisis/ noun a serious economic situation where decisions have to be taken rapidly 쑗 a banking crisis 쑗 The govern-
ment stepped in to try to resolve the interna- tional crisis. 쑗 Withdrawals from the bank
have reached crisis level.
crisis management
crisis management /kraisis
mnidmənt/ noun 1. management of a business or a country’s economy during a period of crisis 2. actions taken by an organ- isation to protect itself when unexpected events or situations occur that could threaten its success or continued operation (NOTE: Crisis situations may result from external factors such as the development of a new product by a competitor or changes in legis- lation, or from internal factors such as a product failure or faulty decision-making, and often involve the need to make quick decisions on the basis of uncertain or incomplete information.)
critical-path method
critical-path method /kritik(ə)l pɑθ meθəd/ noun a technique used in project management to identify the activities within a project that are critical to its success, usu- ally by showing on a diagram or flow chart the order in which activities must be carried out so that the project can be completed in the shortest time and at the least cost
‘…need initial project designs to be more complex or need to generate Critical Path
Method charts or PERT reports.’ [Infor- mationWeek]
CRO
CRO abbreviation Companies Registration Office
cross-border
cross-border /krɒs bɔdə/ adjective from one country to another, covering sev- eral countries
cross-border services
cross-border services /krɒs bɔdə svisiz/ plural noun accountancy services provided by an accountancy firm in one country for a client in another country
crossed cheque
crossed cheque /krɒst tʃek/ noun a cheque with two lines across it showing that it can only be deposited at a bank and not exchanged for cash
cross holdings
cross holdings /krɒs həυldiŋz/ plural noun a situation where two companies own shares in each other in order to stop either from being taken over 쑗 The two companies
have protected themselves from takeover by a system of cross holdings.
cross rate
cross rate /krɒs reit/ noun an exchange rate between two currencies expressed in a third currency
cross-subsidy
cross-subsidy /krɒs sbsidi/ noun the process of deliberately assigning costs to items in an account in such a way that some items are undercosted and some overcosted
crown jewels
crown jewels /kraυn duəlz/ plural noun the most valuable assets of a company, the reason why other companies may want to make takeover bids
crystallise
crystallise /kristəlaiz/, crystallize verb to become chargeable on an asset 쑗 a
deferred gain is crystallised when you real- ise the gain by selling the asset
CT
CT abbreviation corporation tax
cum
cum /km/ preposition with
cum all
cum all /km ɔl/ adverb including all entitlements
cum coupon
cum coupon /km kupɒn/ adverb with a coupon attached or before interest due on a security is paid
cum dividend
cum dividend /km dividend/, cum
div adverb including the next dividend still to be paid
cum rights
cum rights /km raits/ adverb sold with the right to purchase new shares in a rights issue
cumulative
cumulative /kjumjυlətiv/ adjective added to regularly over a period of time
cumulative interest
cumulative interest /kjumjυlətiv intrəst/ noun the total amount of interest that has been charged on a loan up to a given point
cumulative interest
cumulative preference share /kjumjυlətiv pref(ə)rəns ʃeə/ noun a
currency 62
preference share which will have the divi- dend paid at a later date even if the company is not able to pay a dividend in the current year (NOTE: The US term is cumulative
preferred stock.)
currency
cumulative weighted average cost /kjumjυlətiv weitid v(ə)rid kɒst/,
cumulative weighted average price
/kjumjυlətiv weitid v(ə)rid prais/ noun the average price per unit of stock delivered in a period calculated each time a new delivery is received. Compare periodic weighted average cost
currency
currency /krənsi/ noun 1. money in coins and notes which is used in a particular country 2. foreign currency, the currency of another country (NOTE: Currency has no plural when it refers to the money of one country: He was arrested trying to take cur- rency out of the country.)
‘…today’s wide daily variations in exchange rates show the instability of a system based on a single currency, namely the dollar’ [Economist]
‘…the level of currency in circulation increased to N4.9 billion in the month of August’ [Business Times (Lagos)]
currency backing
currency backing /krənsi bkiŋ/ noun gold or government securities which maintain the strength of a currency
currency band
currency band /krənsi bnd/ noun the exchange rate levels between which a currency is allowed to move without full devaluation
currency basket
currency basket /krənsi bɑskit/ noun a group of currencies, each of which is weighted, calculated together as a single unit against which another currency can be measured
currency clause
currency clause /krənsi klɔz/ noun a clause in a contract which avoids problems of payment caused by changes in exchange rates, by fixing the exchange rate for the var- ious transactions covered by the contract
currency futures
currency futures /krənsi fjutʃəz/ plural noun purchases of foreign currency for delivery at a future date
currency hedging
currency hedging /krənsi hediŋ/ noun a method of reducing exchange rate risk by diversifying currency holdings and adjusting them according to changes in exchange rates
currency mismatching
currency mismatching /krənsi mismtʃiŋ/ noun the activity of borrow- ing money in the currency of a country where interest rates are low and depositing it in the currency of a country with higher interest rates. The potential profit from the
interest rate margin may be offset by changes in the exchange rates which increase the value of the loan in the com- pany’s balance sheet.
currency movements
currency movements /krənsi
muvmənts/ plural noun fluctuations in the value of the world’s currencies that occur as they are traded
currency note
currency note /krənsi nəυt/ noun a bank note
currency reserves
currency reserves /krənsi ri|zvz/ plural noun foreign money held by a govern- ment to support its own currency and to pay its debts
currency swap
currency swap /krənsi swɒp/ noun 1. an agreement to use a certain currency for payments under a contract in exchange for another currency (the two companies involved can each buy one of the currencies at a more favourable rate than the other) 2.
the buying or selling of a fixed amount of a foreign currency on the spot market, and the selling or buying of the same amount of the same currency on the forward market
current account
current account /krənt ə|kaυnt/ noun
1. an account in an bank from which the cus-