SHORT-TERM Definition

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SHORT-TERM usually encompasses a calendar of 12 months or less.

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CLEARING is the process of reporting a trade to ACT for comparison of the details of the transaction between brokers prior to final settlement; the final exchange of securities for cash on delivery. Clearing operations, such as the National Securities Clearing Corporation (NSCC), facilitate the validation, delivery, and settlement of securities transactions. Trades are either reported by the broker to the clearing corporation directly or through a third party, usually another brokerage firm if a broker does not have a direct relationship with a clearing corporation.

CASH BUDGET tracks a business's anticipated cash receipts and disbursements. This is a very detailed and important schedule that draws on information in the Operating Budget.

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