| sales revenue |
(Turnover)
Sales revenue is the product of the number of units sold and the price per unit, for all products.
[Sales revenue = Number of units x Selling price] |
|
| salvage |
whatever is recovered of an insured item, or part thereof, on which
a claim has been made |
|
| self-insurance |
insurance that a business organisation finances internally by
establishing a fund to meet losses |
|
| severity |
how serious something will be when it does happen |
|
| short-term insurance |
insurance that operates on an annual basis, and
which may be terminated by the insurer or the insured |
|
| speculative |
a financial asset or group of assets, or risks, with uncertain
returns. The greater the degree of uncertainty the more speculative the
asset or risk (such as betting on a racehorse in the stock exchange) |
|
| standard construction |
a building erected on foundations, constructed of
bricks, stone, steel, with a concrete, tile or steel roof |
|
| statutory |
enacted, regulated or authorised by statute |
|
| subrogation |
the right of one party to stand in the place of another and
assume the legal rights against a third party |
|
| sum insured |
the monetary limit of the insurer’s liability under a policy; or
the insured value of an item or group of items |
|
| sustainable growth (sg) |
Sustainable growth is the maximum growth rate in the business measured by its growth in sales and net assets, which can be sustained within current operating and strategic parameters.
[SG = Retained profit]
[100/Opening equity] |
|
 |
