Fica tax payable

This current liability account reports the amount a company owes (must remit) for its employees’ Social Security and Medicare taxes […]

FICO scoring system

Excellent Credit: 750+ Good Credit: 700-749 Fair Credit: 650-699 Poor Credit: 600-649 Bad Credit: below 600

Fictitious name

A name used by a business that is not its personal or legal name. A business can legally do business […]

Fiduciary duty

Requirement or responsibility to work in the best interest of a person or organization

Final good

A product intended to be consumed, rather than to be used in the creation of another good.

Final income

A measure of the value of goods and services a household can consume from its disposable income. This is equal […]

Financial accelerator

The mechanism through which firms’ and households’ ability to borrow increases when the value of the collateral they have pledged […]

Financial deregulation

Policies allowing banks and other financial institutions greater freedom in the types of financial assets they can sell, as well […]

Financial management

Planning, analysing, monitoring, organising, reviewing and controlling an organisation’s monetary resources. Responsibility for financial management often falls to the finance […]