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F&A
is Facilities and Administrative
Costs (aka Indirect Costs or Overhead), Fabrication & Assembly, Finance & Administration,
or Finance & Accounting.
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F.A.S. (FREE ALONG SIDE)
, e.g. “F.A.S. New
York”, means that, for instance, if goods are shipped from the State
of Nevada in the U.S. to Madrid, Spain, no charges for shipment are made
to the importer until the goods are "free alongside the vessel"
in New York. After this point, charges may be applied to the importer.
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F.O.B. (FREE ON BOARD)
is a transportation
term that indicates that the price for goods includes delivery at the
seller’s expense to a specified point and no further. The FOB term
is used with an identified physical location to determine 1) the responsibility
and basis for payment of freight charges, and 2) the point a twhich title
for the shipment passes from seller to buyer.The FOB location terms, Origin
and Destination, may be qualified by modifiers. The modifier determines
the payment of the transportation charges. Modifiers denote nothing about
the title of the goods or filing of claims. The most three common modifiers
are: Collect, Prepaid & Add, and Prepaid & Allow. Collect: The
carrier collects the transportation charges from the buyer. Prepaid &
Add: The seller prepays the transportation charges, but adds the charges
to the invoice for reimbursement from the buyer .Prepaid & Allow:
The seller prepays the transportation charges and they are already included
in the contract price.
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F.O.B. DESTINATION
is where the seller
retains title and control of goods until they are delivered and the contract
of carriage has been completed. The seller selects the carrier and is
responsible for the risk of transportation.
-
F.O.R. (FREE ON RAILROAD)
is where goods will
be delivered by the exporter to a railway station. The importer is responsible
from this point on.
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FA
, dependent
upon usage, can mean Fixed Assets, Financial Advisor, Feasibility Analysis,
Funds Allocated, Financial Assurance, Financial Agent, Financial Aid,
or Factor Analysis.
-
FACE VALUE
is the value printed or
written on the face of a asset, e.g. on a bill or bond.
-
FACTORING
-
FACTORY OVERHEAD
is the costs of operating
a factory which cannot be assigned directly to a specific department or
product.
-
FAF
is Financial Accounting Foundation or Financial Aid Form.
-
FAIR LABOR STANDARDS ACT
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FAIR VALUE
, under GAAP, is the amount
at which an asset could be bought or sold in a current transaction between
willing parties, other than in liquidation. On the other side of the balance
sheet, the fair value of a liability is the amount at which that liability
could be incurred or settled in a current transaction between willing
parties, other than in liquidation.
-
FASB
see Financial Accounting Standards Board.
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FAVORABLE VARIANCE
is a variance created
by using or spending less of a given resource than specified by the standard,
often categorized as rate (spending less per hour for labor for a given
amount of production), efficiency (using less hours for a given amount
of production), usage (using less materials for a given amount of production)
or price (paying less to a vendor for a given purchased item).
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FCIA (FOREIGN CREDIT INSURANCE ACT)
-
FCPA
, in Australia and elsewhere,
is Fellow Certified Practicing Accountant.
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FDI
is Foreign Direct Investiment.
-
FEDERAL UNEMPLOYMENT TAX ACT (FUTA)
is a U.S, federal law providing guidelines for the unemployment compensation
system. A Federal tax is paid by all liable employers to fund the administration
of Federal and State unemployment insurance programs and the extended
benefits program. FUTA provides for payments of unemployment compensation
to workers who have lost their jobs. Most employers pay both a federal
and a state unemployment tax.
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FEE ACCOUNTANT
is an individual who performs manual
or automated bookkeeping services and/or maintains the official accounting
records.
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FEE SCHEDULE
is a schedule or list
of fees to be paid or benefits that will be received under listed professional
procedures or benefits.
-
FEE SIMPLE
-
FEE SIMPLE ABSOLUTE
see FEE SIMPLE.
-
FEE SIMPLE DETERMINABLE
is a fee simple
which automatically comes to an end when a stated event occurs or, perhaps,
fails to occur.
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FEEDBACK
is the process in which part
of the output of a system is returned to its input in order to regulate
its further output, e.g. a management feedback system would assess the
effectiveness of management or a given process and feed the analyzed
results back into management for development of positive change.
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FF&E
is Furniture, Fixtures &
Equipment (in real estate).
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FFO - FUNDS FROM OPERATIONS
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FFP
, dependent upon usage, is Federal Financial Participation, Firm-Fixed-Price (Contract), or Fixed Fee Procurement.
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FGAR
is Florida Government Accountability
Report.
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FGI
see FINISHED GOODS INVENTORY.
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FICA (FEDERAL INSURANCE CONTRIBUTIONS ACT)
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