DISCRETIONARY FIXED COST normally has a budgetary life of under one year, i.e. the cost arises from annual budgetary decisions by management in specific fixed cost areas, e.g. R&D or Marketing.
TOP-DOWN APPROACH TO INVESTING is an investment approach that first seeks to define major economic and industry trends, then proceeds to identify the individual companies most likely to benefit from those trends. See BOTTOM-UP APPROACH TO INVESTING.
ACCOUNTANTS OPINION is a signed statement regarding the financial status of an entity from an independent public accountant after examination of that entities records and accounts.
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