ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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CONSUMPTION SMOOTHING Definition
CONSUMPTION SMOOTHING is aimed at protecting consumption patterns from the impact of shocks, and can take effect either before or after their occurrence. Post-shock responses include modifying consumption, raising income by mobilizing labor or selling assets, drawing on informal or formal sources of savings, or activating claims on informal insurance mechanisms.
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EX-FACTORY is where a sellers responsibility ends when the buyer at point of origin, i.e., factory, accepts merchandise. This can also be written as Ex-Warehouse, Ex-works, etc.
WITHOUT PREJUDICE is to come to agreement without negating the right or ability to take some form of action in the future, e.g. a legal case can be settled without prejudice, allowing for future legal action if desired by one or more of the parties to the settlement.