Glossary > Glossary > F
You can follow the links below to browse all of the articles, or use the search box at the right-hand side of each page. If you want to discuss problems or ask questions about our software, please use our discussion boards.
F
Fair Market Value: The value of an asset in the current marketplace.
Feeder Finance Loans: Short-term loans owed to purchasers of feeder cattle for the purchase of these feeder cattle. These debts are a form of operating credit and should be included in other current liabilities on the balance sheet.
First In First Out (FIFO): The stock acquired earliest is assumed to be used first; the stock acquired latest is
assumed to be still on hand.
Fiscal Year: A 12-month period (consecutive) that a business designates as its annual accounting period. The
fiscal year does not have to be the calendar year ending December 31.
Fixed Assets: A tangible asset, which is usually involved in the production of goods and services rather than held for resale. This asset represents a relatively long-term investment that is used for more than one year.
Floating Charge: A general claim on the assets of a corporation, given as debt security, without attachment to specific assets.
Forecast Provision for Bad Debts: A reserve account to allow for customers who cannot pay.
Last updated on February 17, 2015 by FCC AgExpert