A measurement of divergence from the mean of an expected value of a stock. Refer to variance.
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STANDARD DIRECT MATERIAL COSTS
Calculated by the cost multiplied by the amount of products.
STANDARD EXCEPTION
An employee not included in the standard classification of risks.
STANDARD FACTORY OVERHEAD COSTS
Any factor costs that will be accounted for in the year to come.
STANDARD FORM
A way to write numbers that are either very large or very small. See scientific notation .
STANDARD GENERALIZED MARKUP LANGUAGE (SGML)
An ISO approved language for text formatting from where HTML derives. SGML is independent of the device and the system.
STANDARD HOURS
The number of hours it takes a skilled worker to complete a job under conditions that are considered normal.
STANDARD HOURS ALLOWED
The length of time it takes in order to produce a quality service or product.
STANDARD INDUSTRIAL CLASSIFICATION (SIC) CODE
A method of classifying a business or industrial activity. Established in USA in 1987 and is being replaced by North American Industry Classification System, NAICS. It covers Mexican and Canadian […]
STANDARD INTERNATIONAL TRADE CLASSIFICATION (NITC)
A Un code used by International organizations to report trade statistics world wide.
STANDARD JOB
A work order containing all of the relevant information that is required for completion.
STANDARD MARGIN
the balance that remains after the deduction of standard costs from sales.
STANDARD MATERIAL RATE
The cost allocated to amount of supplies needed to produce a product.
STANDARD NORMAL
The distribution that is normal with a variance of one and a mean of zero.
STANDARD OF CARE
Degree of care a prudent and reasonable person will exercise under the circumstances . See duty of care .
STANDARD OF COMPARISONS
Evaluating the cost needed to produce an item compared to the number of items produced.
STANDARD OF FAIRNESS
The level of even handedness used in dispensing justice where claims are recognized in order of legal and contractual priority.
STANDARD OF LIVING
The health financially of populations as a measure of income per capita and goods and services consumed by households or individuals.
STANDARD OF PROFESSIONAL PRACTICE
Alternate term for Code of professional responsibility .
STANDARD OF PROOF
Proof level needed in a case established by assessing all evidence. Classified as lowest level, intermediate level and highest levels of proof.
STANDARD OF VALUE
The type of value that is used in transactions such as book value, adjusted basis value etc.
STANDARD OF WEIGHT, or MEASURE
A weight or measure fixed and prescribed by law, to which all other weights and measures are required to correspond. STANNARIES 1105 STATE
STANDARD OPERATING PROCEDURE (SOP)
Written procedure that is prescribed for repetitive use that is in accordance with agreed specifications to produce a desired outcome.
STANDARD OPERATIONS
Activities that are defined clearly and the step-by-step procedures for operators and their machines.
STANDARD POLICY
Term referring to insurance with a standard risk .
