401(k) Plan. A tax-deferred retirement plan designed to encourage long-term retirement savings. Some companies provide contributions as an employee benefit.
FAQs. Frequently Asked Questions (FAQs)
Fair Debt Collection Practices Act. A federal law that specifies what debt collectors can and cannot do to try to collect late payments.
Fair Labor Standards Act (FLSA). A federal law that defines the 40-hour workweek, the federal minimum wage, overtime pay, record keeping and child labor standards affecting private sector, federal, state and local government workers.
Fair Use. A legal doctrine that authorizes use of copyrighted materials for certain purposes without the copyright owner´s permission.
Family and Medical Leave Act (FMLA). A federal law requiring employers to provide eligible employees with unpaid leave during a year´s time for the birth or adoption of a child, family health needs or personal illness. The FMLA generally applies to all public agencies, including state, local and federal employers; private companies that employ 50 or more people; and public schools.
Fiber Optics. A technology that transmits data as beams of light along tiny strands of glass. Fiber-optic networks can transmit a greater amount of data than other kinds of networks, and they are much less likely to introduce data errors.
FICA (Federal Insurance Contributions Act). A payroll deduction for Social Security required by the federal government.
Financial Reports. Reports concerning the financial aspects of a business, such as:
(1) Balance Sheet - A report of the status of a firm's assets, liabilities and owner's equity at a given time.
(2) Income Statement - A report of revenue and expense which shows the results of business operations or net income for a specified period of time.
(3) Cash Flow - A report which analyzes the actual or projected source and disposition of cash during a past or future accounting period.
Financing. New funds provided to a business, either by way of equity infusion, or loans.
Firewall. Software that protects a private network, such as a LAN or an intranet, from intruders or unauthorized traffic. Firewall software usually screens traffic by IP address or other traits, admitting certain types of traffic while blocking others.
Fixed Costs. Costs of doing business, such as rent and utilities that remain generally the same regardless of the amount of sales of goods or services.
Flow Chart. A graphical representation for the definition, analysis, or solution of a problem, in which symbols are used to represent operations, data, flow, equipment, etc.
Foot Traffic. Consumer activity produced by visitors at stores, trade show exhibits or by popular retail locations.
Foreclosure. The act by the mortgagee or trustee upon default, in the payment of interest or principal of a mortgage of enforcing payment of the debt by selling the underlying secured property.
Form W4, Employee's Withholding Allowance Certificate. An IRS form completed by the employee and used by the employer to determine the amount of income tax to withhold.
Franchising. A relationship in which the franchisor provides a licensed privilege to the franchise to do business and offers assistance in organizing, training, merchandising, marketing, and managing in return for a consideration. Examples of franchises include Burger King and Taco Bell.
Freedom of Information Act. The FOIA, enacted in 1966, generally provides that any person has a right of access to federal agency records.
Freeware. Software that is available for anyone to use, free of charge. Most freeware is still copyrighted, however, which means that it can´t be further distributed or licensed.
FTP (File Transfer Protocol). The most common way to download and upload files over the Internet, FTP operations require special software that is built into the most popular Web browsers and that is also available in a number of stand-alone applications. Web site builders use FTP to upload files to a Web host computer.
Full-Service Agency. A firm that handles all aspects of the advertising or public relations process, including planning, design, production and placement. Many full-service agencies also handle marketing communication, public relations, sales promotion and direct marketing.
Business Glossary (F)
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