Developing &
Pricing
Pricing
A group of products that are physically similar or intended for a similar market.
What is a “Product Line”
Products frequently purchased with minimal effort.
What are “Convenience Goods/Services”
Providing information & analysis to managers to assist in decision making. (cost of production, budget planning & control)
What is “Managerial Accounting”
Financial statement that shows profit. (net income/loss)
What is an “Income Statement”
The first offering of an organizations stock.
What is an “Initial Public Offering” (IPO)
A combination of all products offered by a manufacturer or provider.
What is a “product mix”
Products with unique characteristics and brand identity.
What are “Specialty Goods/Services”
Accountants that work internally in a single firm/company/organization.
What are “Private Accountants”
The cost of merchandise the firm sells or the cost of raw materials and supplies used in producing the items.
What is the “Cost of Goods Sold”
An organization whose members can buy and sell (exchange) securities on behalf of companies and individual investors.
What is a “Stock Exchange”
Pricing new products higher to recover costs and make high profits while competition is limited.
What is “skimming”
The value of the brand name & symbols.
What is “Brand Equity”
Accountants that provide accounting services to multiple individuals or businesses (CPA).
What are “Public Accountants”
The ratio that measures the degree to which a firm relies on borrowed funds.
What are “leverage ratios”
The federal agency responsible for regulating the various stock exchanges; created in 1934 through the Securities and Exchange Act.
What is the “Securities and Exchange Commission” (SEC)
Setting prices lower than competitors with no special sales.
What is “Everyday low pricing” (EDLP)
Non-branded products that are discounted compared to manufacturers’ brands.
What are “Generic Goods”
A type of auditing that involves evaluation & unbiased opinion about the accuracy of a company’s financial statements
What is “independent auditing”
Debts owed to others are classified as this on the balance sheet.
What are “liabilities”
Part of a firm’s profits that the firm may distribute to stockholders as either cash or additional shares.
What are “dividends”
Using regular prices rather than every day low prices, except during special sales when prices are lowered.
What is “High-Low Pricing”
Brand that has exclusive legal protection for both its brand name and design.
What is a “Trademark”
Generating reports, analyses, and statements on financial information for users outside of the organization. (Investors, Banks)
What is “Financial Accounting”
Financial statement that reports the financial condition of a company. i.e. where their money is invested and where their debts/equity come from.
What is a “balance sheet”
A telecommunications network that links dealers across the nation so they can exchange securities electronically.
What is the “NASDAQ”