ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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HIGH-YIELD DEBT Definition
HIGH-YIELD DEBT is a business term referring to a corporate debt instrument (non-investment grade or junk bond), that has a higher yield (compared to investment grade debt) because of a high perceived credit risk (default risk). See also JUNK BOND.
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INVENTORY SHRINKAGE is a reduction in the physical amount of inventory that is not easily explainable. The most common cause of shrinkage is theft.
TOP-DOWN BUDGETING is where budgets are created by starting from the highest level working towards the bottom using parametric relationships. A monetary value is placed on an individual unit (product, service, materials, and labor hour). An estimate of the number of units required is then converted to currency by multiplying the quantity of units by the unit price.