GADFLY Definition

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GADFLY slang for a securityholder who owns stock in various companies, attends annual meetings only to ask senior management hard and often embarrassing questions.

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OPERATING EXPENSES BUDGET forecasts all of the elements of a business' operating expenses, such as salaries, rent, depreciation, and others. Some of these expenses are fixed and some are variable (in other words, based on another metric, such as revenues). While the Operating Expenses Budget represents an estimate of future expenses, this is an accrual-based accounting figure, and it is the Disbursements for Operating Expenses Budget, a component of the Operating Expenses Budget, that drives a company's cash flows.

ANNUALIZE is a statistical technique whereby figures covering a period of less than one year are extended to cover a 12-month period. The technique, to be accurate, must take seasonal variations into consideration.

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