Accounting, Business Studies and Economics Dictionary

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J-curve - The way in which the trade balance may initially worsen after an exchange rate depreciation. This is caused by a time lag between the change in price for imports and exports and the change in quantity demanded.

JIT –  Just-in-time manufacturing

Job analysis - A study of what the job entails. such as the skills, tasks and performance expected.

Job costing - The allocation of costs such as time, material and other expenses to an individual  job or project;  it is a method that provides for the forecasting, budgeting, collecting and subsequent reporting on the various expense and revenues that can be attributed to individual projects or jobs.

Job description - Document which outlines the responsibilities and duties expected to be carried out by someone employed to do a specific job.

Job design (redesign) - Changing the tasks and activities of a job. perhaps in an attempt to motivate workers.

Job enlargement - Giving an employee more work to do of a similar nature.

Job enrichment - An attempt to give employees greater responsibility and recognition by 'vertically' extending their role in the production process.

Job evaluation - A method used by businesses to comp the value of different jobs and perhaps set wages or salaries.

Job order – A customer order for a specific number of specially designed, made-to-order products.

Job production - A single product is made at a time, usually to the customer's exact specifications.

Job rotation - The changing of jobs or tasks from time to time.

Job satisfaction - Enjoyment derived from feeling .that you have done a good job.

Job search - The process by which workers find appropriate jobs given their tastes and skills.

Job specification - A document which outlines the requirements, qualifications and expertise required from a person to do a specific job.

Joint consultation - Discussion between management and  employee representatives before a decision is taken.

Joint costs - Common manufacturing costs incurred prior to the point, referred to as the split off point, where joint products are identified as individual products. Joint costs are the costs associated with a single process of production that makes many products at the same time.

Joint float - Where a group of currencies pegged to each other jointly float against other currencies.

Joint product - A single production process that yields multiple products simultaneously.

Joint stock company - A company that has some of the features of a corporation and also has features that are normally found in a partnership.

Joint supply - Where the production of more of one good leads to the production of more of another.

Joint venture – Two firms sharing the cost, responsibility and profits of a business venture.

Journal(s)- A book or set of books where your transactions are first entered.

Journal entries - A term used to describe the transactions recorded in a journal.

Journal proper- A term used to describe the main or general journal where other journals specific to subsidiary ledgers are also used.

Judgment - 1. accountant's opinion regarding a set of facts or evidence. Besides interpreting the meaning of the situation, the accountant must also determine its perceived implications. For example, the degree of audit testing required in a given situation depends on the auditor's judgment of the quality of the internal control system. Or 2. court order to pay money.

Just-in-time manufacturing (JIT) - A production method that involves reducing or virtually eliminating the need to hold stocks of raw materials or unsold stocks of the finished product.

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Intellectual growth should commence at birth and cease only at death.
Albert Einstein

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