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September 08th 2010.

Financial Glossary

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Q  ( 16 DEFINITIONS )

Q ratio
A Q ratio, also called Tobin's q ratio, is the market value of all of a firm's outstanding equity and debt securities divided by the replacement cost of all the firm's assets.    top

Qualified audit report
A qualified audit report is an audit report other than the standard unqualified audit report. It contains an opinion paragraph that does not give the positive assurance that everything in the financial statements is in conformity with GAAP.    top

Qualified farm property
Qualified farm property is real property including ECP that is owned by an individual, the individual's spouse or common-law partner, parent, or child, or by a family farm partnership, or is a share of a family farm corporation, whereby the property is used in the business of farming in Canada.    top

Qualitative characteristics (qualitative criteria)
Qualitative characteristics are a set of criteria by which measurement options and accounting policies are evaluated.   top

Qualitative method
The qualitative method is used when organizations make decisions for reasons other than dollar returns. Both qualitative and quantitative methods should be used.   top

Quality
Quality is the conformance of a product or service to customer expectations in terms of features and performance.   top

Quality circles
Quality circles are small groups of employees that meet on a regular basis to discuss ways to improve quality of output.   top

Quality function deployment
Quality function deployment is the process that takes the concept of customer wants and needs, functional characteristics, technical specifications, and costs to a sophisticated level of analysis. It converts the customers' demands into quality characteristics by developing a design quality for the finished product.   top

Quality of conformance
Quality of conformance is the degree to which the product meets its design specifications and is free from defects that might affect appearance or performance.   top

Quality of design
Quality of design is the degree to which a company's design specifications for a product or service meets customers' expectations for the grade level chosen.   top

Quality review
A quality review is the study of a firm's quality control policies and procedures. It is an audit of a firm's quality of audit practice.   top

Quality-cost report
The quality-cost report is a report that lists all of the quality-related activities recorded in the accounting system along with their costs (both direct and indirect) by the four categories of prevention, appraisal, internal failure, and external failure.   top

Quantifiability
Quantifiability is the ability to attach a number to an event or transaction.   top

Quantity schedule
A quantity schedule is the part of a production report that shows the flow of units through a department during a period.   top

Quarterly tax instalments
Quarterly tax instalments must be made by individuals who are not employees or by taxpayers who have sizable income from a source other than employment.   top

Quick ratio
The quick ratio is a liquidity ratio comparing monetary current assets to current liabilities. It excludes non-monetary current assets that may distort the current ratio.   top