Dr. Harvey's Financial Glossary

Friday, November 21, 2008

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Sales charge: The fee charged by a mutual fund at purchase of shares, usually payable as a commission to a marketing agent, such as a financial adviser, who is thus compensated for assistance to a purchaser. It represents the difference, if any, between the share purchase price and the share net asset value.
Sales completion: In the context of project financing, the state in which the project has reached physical completion and has delivered product or generated revenues in satisfaction of a sales completion test.
Sales Contract: Contract between a seller and buyer for the sale of goods, services, or both.
Sales forecast: A key input to a firm's financial planning process. External sales forecasts are based on historical experience, statistical analysis, and consideration of various macroeconomic factors.
Sales literature: Material written by an institution selling a product, which informs potential buyers of the product and its benefits.
Sales load: See Also: Sales charge
Sales tax: A percentage tax on the selling price of goods and services.
Sales-type lease: The leasing out of a firm's own equipment, such as a printing company leasing its own presses, thereby competing with an independent leasing company.
Sallie Mae: See: Student Loan Marketing Association
Salomon Brothers Non-U.S. Dollar World Government Bond Index: A benchmark index that includes institutionally traded bonds other than U.S. issues that have a fixed rate and a remaining maturity of one year or longer.
Salomon Brothers World Equity Index: A top-down, float capitalization-weighted index used to measure the performance of fixed-income and equity_market. It includes approximately 6000 companies in 22 countries.
Salvage value: Scrap value of plant and equipment.
SAM: See Also: Shared Appreciation Mortgage
Same-Day Funds Settlement: A method of settlement used in trading between well-collateralized parties in good-the-same-day federal funds used by the Depository Trust Company for transactions in US government securities, short-term municipal notes, medium-term commercial paper notes, CMOs, and other instruments.
Same-day substitution: Offsetting changes in a margin account during the day that result in no overall change in the balance of the account.
Samurai bond: A yen_bond-denominated bond issued in Tokyo by a non-Japanese borrower. Related: Bulldog bond and yankee_bonds.
Samurai market: The foreign market in Japan.
Santa Claus Rally: Seasonal rise in stock prices in the last week of the calendar year, between Christmas and New Year's Day.
Sao Paulo Stock Exchange: See: Bolsa de Valores de Sao Paulo
SAR: The ISO 4217 currency code for the Saudi Arabian Riyal.
SAR: See Also: Stock Appreciation Right
Sarbanes Oxley Act of 2002: Legislation passed largely as a result of a number of accounting scandals. Among the many features is the creation of the Public Company Accounting Oversight Board. This board is charged to: The Board shall: 1) register public accounting firms; 2) establish, or adopt, by rule, auditing, quality control, ethics, independence, and other standards relating to the preparation of audit reports for issuers; (3) conduct inspections of accounting firms; (4) conduct investigations and disciplinary proceedings, and impose appropriate sanctions; (5) perform such other duties or functions as necessary or appropriate; (6) enforce compliance with the Act, the rules of the Board, professional standards, and the securities laws relating to the preparation and issuance of audit reports and the obligations and liabilities of accountants with respect thereto; (7) set the budget and manage the operations of the Board and the staff of the Board.
SARSEP: See Also: Salary Reduction Simplified Employee Pension Plan
Saturday night special: Often used in risk arbitrage. Sudden attempt by one company to take over another by making a public_offering tender offer.
SATURNS: See Structured Asset Trust Unit Repackagings.

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