BUSINESS ACRONYMS | Part 2
FDI = a category of cross-border investment in which an investor resident in one economy establishes a lasting interest in and a significant degree of influence over an enterprise resident in another economy FOB = a shipment term that defines the point in the supply chain when a buyer or seller becomes liable for the goods being transported. Purchase orders between buyers and sellers specify the FOB terms and help determine ownership, risk, and transportation costs FOC = without having to pay FTA = an international treaty between two or more economies that reduces or eliminates certain barriers to trade in goods and services, as well as investment FTAA = FTA of all countries in the Americas, excluding Cuba FTSE = a British financial organization providing index offerings for the global financial markets GAAP = standards that encompass the details, complexities, and legalities of business and corporate accounting GDP = the value of the final goods and services produced in a country GNP = a metric for measuring a nation's economic output headquarters = the premises serving as the managerial and administrative centre of an organization IMF = a major financial agency of the United Nations, and an international financial institution IPO = the process of offering shares of a private corporation to the public in a new stock issuance for the first time LBS = a general term denoting software services which use geographic data and information to provide services or information to users LC = a letter from a bank guaranteeing that a buyer’s payment to a seller will be received on time and for the correct amount M&A = business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization MO = a directive to pay a pre-specified amount of money from prepaid funds, making it a more trusted method of payment than a cheque MOU = a type of agreement between two (bilateral) or more (multilateral) parties. See also BUSINESS ACRONYMS | Part 1