August 2010
Beginner
251 pages
7h 20m
English
Content preview from Principles of Quantitative Development
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Glossary of Terms
Accrual accounting
In finance, accrual accounting is an accounting method that includes future expected cash flows in order to arrive at an accurate estimate of a company's current financial condition. This method is to be contrasted with a cash accounting scheme. For example, if the only transaction a bank makes is a loan, then it has a net negative position in terms of cash. However, when considering the future revenue stream, through an accrual accounting method, the bank is likely to have a positive position using accrual accounting.
API
In computer science, API stands for the application programming interface. It is a collection of functions, tools and conventions that will make it easy for a developer to use a library or a system. It formalizes the interaction between a program library or module (or hardware platform) and the software developed based on it, by hiding the complexities of implementation behind the facçade of the API. For instance, the Windows operating system ‘exposes’ an API (WinAPI, for short) which we used in developing the user interface of a pricing tool. Since we used the API, we did not have to worry about how to draw a window on the screen or handle scrollbars and mouse events. Similarly, we used the API of the DISLIN package for plotting and visualization.
Asset liability management (ALM)
In a bank or a financial institution, ALM refers to the management of assets and liabilities in such a way as to maintain its capital liquidity ...
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