WHEN-ISSUED Definition

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WHEN-ISSUED, in securities, is a transaction made conditionally because a security, although authorized, has not yet been issued, e.g, new issues of stocks or bonds, stocks that have been split and Treasury securities are all traded on a when-issued basis.

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AUDIT PLAN / PLANNING is developing an overall strategy for the expected conduct and scope of the audit. The nature, extent, and timing of planning varies with the size and complexity of the entity, experience with the entity, and knowledge of the entitys business.

WORKING CAPITAL DAYS OF NET SALES measures how many days of net revenue are tied up in working capital. It is calculated: Working Capital Days of Net Sales = Working Capital / Net Revenue * 365. Low values tend to show problems in ability to support sales while high values may indicate under-capitalization problems.

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