HARMONIZED SYSTEM is an internationally agreed upon classification system for trade. It provides code numbers to specify a goods classification; thereby making customs duty determination more predictable.
GROSS DEBT, generally, is the sum total of an entities debt obligations. In corporate finance, it is usually comprised of debt financing, irrespective of its maturity, i.e. medium and long-term (various borrowings due in more than one year that have not yet been repaid) and short-term bank or financial borrowings (portion of long-term borrowings due in less than one year, discounted notes (same technique as discounting of bills of exchange), bank overdrafts, etc.).
ORDINARY ASSET is a non-capital asset used for business purposes. See CAPITAL ASSET.
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