Independence Standard Board – Explained

by TheBusinessProfessor | Feb 23, 2025 | Managerial & Financial Accounting & Reporting

What is an Independence Standard Board?The Independence Standards Board (ISB) creates standards for public company auditors. The underlying objective is to maintain independence and avoid conflicts of interest in reporting services. What does the Independence...

Income Deposit Security – Explained

by TheBusinessProfessor | Feb 23, 2025 | Investments, Trading, and Financial Markets

What is an Income Deposit Security?An income deposit security is a hybrid financial security. It is considered a hybrid because it shares the qualities of both a high-yield note and common stock. Another name for it is enhanced income security. The sole purpose of...

JOBS Act – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is the Jumpstart Our Business Startups Act (JOBS) Act?Jumpstart Our Business Startups Act, commonly referred to as the acronym JOBS Act, is an act of the United States Congress that reduced regulatory requirements for small businesses from some provisions of the...

Interpol – Explained

by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations

What is Interpol?Interpol stands for International Police Organization. The commission facilitates various forms of international police cooperation. It was referred to as the International Criminal Police Commission until 1956 when it changed its name to...

Key Process Input Output Variable – Explained

by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management

What is a Key Process Input or Output variable (KPIV)?Key process input or output variable (KPIV) refers to various factors that can cause an impact during the production process. Once the key process input variables for a process are determined, statistical...

Kruskal Wallis Test – Explained

by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science

What is the Kruskal Wallis Test?The KruskalWallis test refers to a rank-based nonparametric test that is used in statistical research or calculations to determine existing differences in the statistical differences between groups of independent variables on dependent...

Lisbon Agreement – Explained

by TheBusinessProfessor | Feb 23, 2025 | Global Business, International Law & Relations

What is the Lisbon Agreement?The Lisbon Agreement for the Protection of Appellations of Origin and their International Registration (Lisbon Agreement) is an international agreement concerning the recognition of intellectual property rights. It is administered by the...

Linear Regression – Explained

by TheBusinessProfessor | Feb 23, 2025 | Research, Quantitative Analysis, & Decision Science

What is a Linear Regression?This is known in statistics as a linear approach to a scalar response’s relationship with a single or multiple explanatory variables. Where one variable is involved, this approach is known as a simple linear regression and referred to...

Less Than Truckload (LTL) – Explained

by TheBusinessProfessor | Feb 23, 2025 | Operations, Project, & Supply Chain Management

What is LTL or Less-Than-Truckload?Less-Than-Truckload is a term that refers to transportation of freight that is less than the capacity of the trailer and only occupies a percentage of the trailer. In such a case, different shippers will transport goods in the same...

Lean Strategy – Explained

by TheBusinessProfessor | Feb 23, 2025 | Strategy, Entrepreneurship, & Innovation

What is a Lean Strategy?Lean strategies focuses on producing more with less input. Thus, it seeks to eliminate waste throughout the entire manufacturing process. Efficiency can be achieved in two ways: Technical Efficiency Here, a firm that produces the maximum amount...