[ Y ]
 
 
 
Yield
 
o         the rate of return on an investment.
 

[ W ]
 
 
 
Wasting assets
 
o         assets of a fixed nature but as they are being used by the business are physically diminishing in size eg a mine
 
 
Working capital
 
o         the total of current assets less the current liabilities
 
 
 
Work in progress
 
o         semi-finished goods

[ V ]
 
 
Variable overheads
 
o         indirect expenses that vary directly with output eg power
 
 
 
Variances
 
o         the difference between a budgeted performance and the actual performance achieved.
 

[ U ]
 
Understandability
 
o         Information provided in financial statements has the quality of understandability when is comprehensible to users who have a reasonable knowledge of business and economic activities and accounting and a willingness to study the information with reasonable diligence.
 

[ T ]
Tangible asset
o a physical asset
Times interest earned
o the number of times that loan interest is covered by profits, ie earnings(profits) before tax and interest divided by the interest charge. It indicates how safe creditors interest charges are.
Thin capitalization

a thinly capitalized company is one where its capital structure consists of very high debt/gearing level.
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