AUTHORIZE / AUTHORIZATION Definition

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AUTHORIZE / AUTHORIZATION is to give permission for. For example, a manager authorizes a transaction by signing a voucher authorizing the disbursement.

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NET OPERATION PROFIT AFTER TAXES (NOPAT) is a profitability measure that omits the cost of debt financing (i.e. it omits interest payments, along with their associated tax break). NOPAT is primarily used in the calculation of EVA. It is calculated: NOPAT = operating income x (1 - Tax Rate).

MEDIUM TERM ASSETS, usually, are those assets that are expected of having a useful life of between six months and two years of the present.

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