Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Working Capital
The capital or funds available for a business's day-to- day operations, calculated as current assets minus current liabilities.
Capital Expenditure
Net Income
The total earnings of a business or individual after deducting expenses, taxes, and other costs.
Fiscal Sustainability
The state's ability to meet its financial obligations and provide sufficient resources to fulfill those commitments when they come due, which is achieved through sound policies aimed at diversifying revenues, improving expenditure efficiency, and controlling the budget deficit to reduce the levels of increase in public debt and its burdens.
Budgeting
Estimates of the expected revenues and expenditures over a specific financial period (usually a fiscal year), and the government’s plans for allocating resources to various sectors.
Budget
The actual amounts allocated or spent based on the estimates outlined in the general budget. The public accounts reflect the actual financial status after the execution of the plans and goals defined in the budget, and they are monitored periodically to ensure they align with the expectations.
Expenses
What the government spends on various sectors, such as education and health, for development and improving citizens' standard of living. Expenditures are divided into operating expenses and capital expenditures.
Framework Agreement
A formal agreement between two or more organizations of the government bodies with suppliers or contractors which contains conditions and regulations of the contract.
Financial Impact
The estimated or realized value of the costs, reflecting the change in the financial position of the entity in terms of expenses, revenues, or financial efficiency.
Repurchase Agreement
A financial transaction where one party sells securities to another with an agreement to repurchase them at a specified future date and price, often used in short-term funding.
Revenues
The total revenues collected by the government from both oil and non-oil revenues. This includes revenues from oil production and sales, taxes and duties on goods and services, as well as returns on assets.
Finance
Financial resources provided for business operations, projects, or investments.
Inflation Rate
The percentage change in the price level of goods and services over a specified period.
Gross Domestic Product (GDP)
The total value of goods and services produced within a country during a specific period of time.
Capital Expenditures
The total amount spent by the government on infrastructure development projects and the acquisition of fixed assets such as construction, equipment, and real estate for the purpose of economic and social development.
Debt Securities
A loan, debt or any other financial instrument issued by companies or governments resulting in interest or similar payments to the holder of the debt security until the maturity date and repayment of the principal – the face value of the debt security at the maturity date made by the issuer. Debt securities, including the entitlement to interest benefits, can be traded. There are many forms of debt securities, such as corporate bonds, government bonds, collateralized bonds, certificates of deposit and debenture.
Zero-Based Budgeting (ZBB)
A budgeting method where expenses must be justified from zero rather than being based on previous budgets.
Asset Management
The process of managing investments and assets for beneficiaries with the aim of increasing returns while managing risks.
Depreciation
The systematic allocation of the depreciable amount of a fixed asset over its useful life. It is used in accounting to distribute the cost of an asset over the years it is expected to be in use.
Costs of Contracts on Etimad
Total amount of contract costs, that is registered at Etimad, (the original contract cost will be according to the cost of the new contracts) the remaining value of contract costs would be when these contracts registered at Etimad (for the existing contracts).
Spending Efficiency
Maximizing impact relative to expenditure, by making optimal use of available resources and addressing various types of waste without compromising the quality of services provided.
Unified Procurement Framework Agreement
A formal agreement between one or more government entities and one or more suppliers, contractors, or service providers, containing the terms and conditions of contracts to be awarded during a specified period, covering all participating government entities to achieve economies of scale and reduce costs and procedures, and where any supplier, contractor, or service provider may request to join at any time during the term of the agreement.
Liquidity
The ease and speed with which an asset or security can be converted into cash without a significant loss of value.
Government Tenders and Procurement Law
The system that regulates how government entities conduct tenders and procure goods, services, and projects, ensuring transparency, efficiency, and the best possible value for public funds.
Bank Credit
Entire amount of money that a person or corporation may acquire from a financial institution such as a bank.
Budget Supplement
An additional amount added to the approved budget of an entity in accordance with regulatory instruments.
Leverage Ratio
A financial metric that compares a company’s debt to its equity or assets, showing the level of financial risk.
Accrual Basis of Accounting
A basis of accounting under which transactions and other events are recognized when they occur (and not only when cash or its equivalent is received or paid). Therefore, the transactions and events are recorded in the accounting records and recognized in the financial statements of the periods to which they relate. The elements recognized under accrual accounting are assets, liabilities, net assets/equity, revenue, and expenses.
Fund Management Fee
The remuneration, expenses, and fees in relation to advisory services paid to the fund manager.
Budget Deficit as a Percentage of Gross Domestic Product (GDP)
A measure used to assess the government's fiscal deficit in relation to the size of its economy based on nominal Gross Domestic Product (GDP), which is calculated using current prices (i.e., the prices prevailing in the same year without adjusting for inflation).
Debtor
Every person of a moral or legal identity owing in debt property for the government.
Credit Default Swap (CDS)
A financial derivative that transfers credit risk between two parties, often used as insurance against default.
Real Gross Domestic Product (GDP)
The value of Gross Domestic Product at constant prices according to the base year.
Employees Compensations
Cash or in-kind bonus that is due to be paid for an employee for his work in addition to wages, salaries, which include social insurance paid by a government unit on behalf of its workers excluding any compensation for workers related to capitals for self-account.
Inflation
The sustained increase in the general price level of goods and services in an economy, leading to a decrease in purchasing power.
Revolving Credit
A type of credit arrangement that allows a borrower to access funds up to a predetermined credit limit, with the ability to borrow, repay, and borrow again.
Credit and Debit Notes
Commercial documents issued by a supplier or seller to a buyer, required by law to evidence a subsequent change to consideration of a Taxable Supply weather reducing its value (credit note) or increase it (debit note).
Assets
Resources controlled by an entity as a result of past events and from which future economic benefits or service potential are expected to flow to the entity.
Expenditure Rationalization
Policies aimed at optimizing government spending, cutting unnecessary expenses, and improving efficiency in public finances.
Budget Scenario by Ceiling
A financial plan in which the total appropriations requested for the next year in the forms must not exceed the initial ceiling value of the amount allocated to the entity, provided that it includes the entity’s inevitable expenses.
Exchange Rules
The regulations, rules, procedures and instructions proposed by the Board of Directors of the Exchange and approved by the Board of the Capital Market Authority.
External Reclassification
A reallocation between an entity’s budget items, such as from a program, project, expenditure, or other budgetary categories.
Internal Reclassification
A reallocation between an entity’s budget items within the same category, such as from one program to another, or from one project to another.
Government Gross Public Debt
The total outstanding debt of a government, including both domestic and external debt, before considering assets or debt held by government agencies.
Public Debt Management
Strategies used by governments to handle public debt effectively.
Exchange of Information Agreement
An agreement to improve international tax compliance, which provides for the exchange of financial accounts information on a regular basis.
Interest Rates
A percentage that represents the cost or return generated by a loan or certain saving instruments.
Financial Statements
Are formal reports that present an organization's financial performance, position, and cash flows, including the income statement, balance sheet, and cash flow statement.
Tax
An obligatory financial deduction from a normal or legal person who pays the state free amount of money in order to achieve public benefit.
Dividend Yield
A financial ratio that indicates how much a company pays in dividends relative to its stock price.
Budget Surplus or Deficit
The difference between revenues and expenditures. When revenues are higher than expenditures, the budget surplus is achieved, while the budget deficit is when expenditures exceed the revenues.
Operating Expenses
Total government spending on wages, salaries, allowances, purchase of goods and services, maintenance of fixed assets, social security programs, government support, grants, subsidies, and other operating expenses.
Government Entity-Specific Framework Agreement
A formal agreement between a specific government entity and one or more suppliers, contractors, or service providers, containing the terms and conditions of contracts to be awarded during a specified period, typically limited to meeting the specific needs of that government entity only.
Tax Refund
A refund request is submitted by the taxpayer or a representative with an official power of attorney. The Zakat, Tax and Customs Authority shall review the request, verify the existence of excess amounts paid by the taxpayer, and complete the procedures for refunding those amounts within thirty days from the date the Authority receives the request.
Collateral
Collateral, for the purposes of the Client Money Rules and Client Assets Rules, means money or an asset which has been paid for in full by a client and which is held by the Capital Market Institution or under its charge, either for its own account or under the terms of a deposit, pledge or other pledge arrangement.
Capital
The financial resources, assets, or funds available to individuals, businesses, or governments, which can be used for investment, operations, or as a financial cushion.
Default Probability
A measure of the likelihood that a borrower will default on its debt obligations. It is often expressed as a percentage and is used by investors to gauge risk.
Debt Capital Markets
A division of investment banking responsible for raising capital through the issuance and trading of debt securities.
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