What is Agency by Necessity? Agency by necessity is a term used to describe a relationship in which one party makes essential decisions for the other party in the event of an emergency. Such a relationship is recognized by the legal system. How Does Agency by Necessity Work? Agency by necessity enables the agent to…
What is the Accumulation Phase? The accumulation phase refers to the time in the life cycle of an investment when an individual or an investor builds up the value of their annuity or investment. It is the second phase in the process of investing. The fundamental principle at work that makes it possible…
What is an Advertising Budget? An advertising budget is a company’s allocation of promotional expenditures over a specified time period. It is a measure of a company’s planned expenditure on accomplishing marketing objectives. The advertising budget is where a company’s strategic marketing objectives and cost-benefit analysis converge in its operational plans. The Three Pillars of…
What is Adverse Possession? Adverse possession is a legal principle that states that a person can acquire legal ownership of someone else’s property. In order to do so, they need to acquire possession or reside on that property for a certain length of time. Typically, the form of property is land. If the adverse possession…
What is Current Good Manufacturing Practices (CGMPs)? Current Good Manufacturing Practices (CGMPs) refers to the regulations provided by the US Food and Drug Administration (FDA) that guide the design, monitoring, and maintenance of manufacturing facilities and processes. The FDA enforces the regulations to ensure that manufacturing facilities of pharmaceutical products, medical devices, food and beverages,…
What is an Accredited Asset Management Specialist (AAMS®)? Accredited Asset Management Specialist (AAMS®) is a designation for finance professionals who are becoming financial advisors or are new to becoming financial advisors. The AAMS designation will provide the advisors with fundamental financial knowledge with a specification in asset management and investment. Breaking Down AAMS® The AAMS®…
What is an Encumbrance? An encumbrance is a restriction on the use of funds. It is used in public accounting to make sure that there are sufficient funds to meet certain obligations. Governments use encumbrances to avoid overspending on their finances. An encumbrance certificate is also used in real estate when there is a claim…
What are Fast-Moving Consumer Goods (FMCG)? Fast-moving consumer goods (FMCG), also called consumer packaged goods (CPG), refer to products that are highly in-demand, sold quickly, and affordable. Such items are considered “fast-moving” as they are quick to leave the shelves of a store or supermarket because consumers use them on a regular basis. Examples of Fast-Moving…
What Does Omni-channel Mean? Omni-channel (or omnichannel) refers to a sales approach that uses multiple channels to reach customers and provide them with an excellent shopping experience. It covers all the ways brands and customers interact with each other. Whether they are shopping at a physical store, by phone or mobile device or laptop, an…
