Accounting, Business Studies and Economics Dictionary

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k percent rule - The proposition that the money supply should be increased at a constant percentage rate year in and year out, irrespective of cyclical changes in national income.

Kaizen -  A Japanese term meaning continuous improvement, through the elimination of waste

Kaizen budgeting - Incorporates expectations for continuous improvement into budgetary estimates The main point the budget cannot be successfully achieved  unless the improvements are carried out.

Kaizen costing - Determines target cost reductions for a period, such as a month or year.

Kanban - A card which acts as a signal to move or provide resources in a factory.

Keynesian - A Keynesians economist  holds the view, derived from the work of John Maynard Keynes, that active use of monetary and fiscal policy can be effective in stabilising the economy. Often the term encompasses economists who advocate active policy intervention in general.

Keynesian growth models - Growth models by which the long run path for growth in an economy is determined  by the relationship between savings, investment and the level of production or output.

Keynesian macroeconomics - Keynesian theory is used to illustrate how a free market economy can reach equilibrium while still experiencing large scale unemployment and how the government should use expansionary fiscal spending to achieve a new equilibrium at the full employment level of output.

Keynesian short-run aggregate supply curve - A horizontal aggregate supply curve indicating that when national income is below potential, changes in national income can occur with little or no accompanying changes in prices.

Kinked demand curve - A model of pricing in an oligopolistic market structure where rivals follow one firm's decision to make a price decease but not a price increase. The demand curve is thus bent or kinked and the associated marginal revenue curve has a discontinuous part in it.

Kiting 1. In relation to banking, means the depositing and drawing cheques at two or more banks simultaneously and thus taking advantage of the difference in time it takes the second bank to have collected the monies from the original bank. Or 2. Can also mean illegally raising the face value of a cheque by altering the amount written on the cheque. In the context of securities, Kiting is to the manipulate and/or inflate the stock price.

Knowledge management (KM) - The process associated with connecting people to people and people to information to create a competitive advantage.

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Nobody can go back and start a new beginning, but anyone can start today and make a new ending.
Maria Robinson