PROFESSIONAL FEE Definition

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PROFESSIONAL FEE is that fee charged for services from university trained professionals; primarily doctors, lawyers and accountants. The term is often expanded to include other university trained professions, e.g. pharmacists charging to maintain a medicinal profile of a client or customer.

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DIRECT LABOR BUDGET is a budget of planned expenditures for direct labor. The direct labor budget indicates the rate per hour and the number of hours necessary to meet production requirements. See OPERATING BUDGET.

CURRENT YIELD, in bonds, is the annual interest or dividend payments expressed as a percentage of the bond's current price. For bonds, where yield to maturity factors in the original purchase price, current yield is strictly a measure of the income stream.

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