PMSI Definition

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PMSI is Purchase-Money Security Interest; it is normally a lien resulting from a purchase, e.g. an auto loan.

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DISCOVERY SAMPLING is sampling to determine whether internal control compliance is greater than or less than the tolerable deviation rate when the expected attribute occurrence rate is zero.

LABOR THROUGHPUT VARIANCE reveals potential constraints on throughput caused by changes in the mix of products being produced. It is computed the way the traditional labor "efficiency" variance is computed but aggregated at a fairly high level (e.g., total plant or total department) and expressed as percent of actual clocked production hours vs. standard production hours.

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