MARKET DISCOUNT Definition

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MARKET DISCOUNT is the stated redemption price of a bond at maturity minus your basis in the bond immediately after you acquire it. Market discount arises when the value of a debt obligation decreases after its issue date.

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BILL OF MATERIALS (BOM) is a listing of all the assemblies, sub-assemblies, parts, and raw materials that are needed to produce one unit of a finished product. Each finished product has its own bill of materials.

FLOWCHART, in accounting, is a schematic representation of a sequence of operations in an accounting system or computer program. Also called a flow diagram or flow sheet.

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