Financial dictionary
Amortisation
Means of gradually recovering the moral or physical wear of a fixed asset by introducing the expenditure of sums in accordance with Law 15/1995, republished and modified.
ARB
Romanian Banking Association
Arbitration
The combined operation of buying and selling values or goods based on the appreciation of the differences in their exchange rates, current or future. In the field of banking, arbitration consists of buying values on certain markets where the exchange rate is profitable, in order to resell them on other markets, thus taking advantage of the difference in exchange rates. In currency exchange selling a type of currency in order to buy another is also called arbitration. In the field of international finance arbitration consists in replacing a receivable which can be used in a certain currency and under certain conditions with another receivable which can be used in another currency and under other conditions.
Assets
All the goods and receivables (debts owed) belonging to the economic entity; in the case of a bank assets consist of all its investments in credits, government bonds, bonds, on the interbanking market, on the capital market, on the stock market, etc., to which are added buildings, land, equipment and other immobilizations (participations/ shares owned at other companies).
Assignment
The transfer of the leasing contract from one User to another through an assignment agreement.
ATM
Automated teller machine which allows for cash withdrawal and other electronic banking transactions (landline or mobile telephone or other public utilities payments, transfers from the card account to the current account or transfers from the card account to the virtual card account in order to make Internet purchases) with the help of a bank card and following specific instructions (insert PIN, select banking operation from menu, etc.).
Audit
The examination of a company’s accounting situations and reports; the results are registered in a report which certifies whether, in the auditors’ opinion, the accounting reports examined accurately reflect the financial situation of the company; internal auditing is done by a department within the company; external auditing is done by an independent auditor.