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Management’s discussion and analysis (MD&A) of results of operations and financial condition:
A required report under Securities and Exchange Commission regulations. The discussion of
operations is required to include material nonrecurring items of revenue, gain, expense, and loss.
Market approach: A general way of determining a value indication of a business, business
ownership interest, security, or intangible asset by using one or more methods that compare the
subject to similar businesses, business ownership interests, securities, or intangible assets that have
been sold.
Market capitalization: The total value at market prices of the securities in issue for a company, a
stock market, or a sector of a stock market, calculated by multiplying the number of shares issued by
the market price per share.
Market demand pricing: A pricing strategy where products services are priced based on current
market prices.
Market segment: A subgroup of a population determined by shared characteristics and
product/service needs. A market can be divided into segments through the use of demographic and
psychographic characteristics.
Marketability: The ability to quickly convert property to cash at minimal cost.
Material: Significant in amount or in importance.
Material items: Items of sufficient size to have the potential to influence decision makers or other
users of financial statements. Generally accepted accounting principles do not offer a specific
quantitative definition of materiality.
MD&A: See Management’s discussion and analysis (MD&A) of results of operations and
financial condition.
Merger: The combination of two or more companies into a single entity.
Milestone: A significant point in development. Mostly used in business as a benchmark to gauge
progress.
Minority discount: A discount for lack of control applicable to a minority interest.
Minority interest: An ownership interest less than 50% of the voting interest in a business enterprise.
Misstatements: Materially incorrect numbers in financial statements, due to error or fraud.
Multichannel distribution strategy: A distribution strategy that utilizes multiple channels to reach
the customer (such as retail and online).
Multinational corporation: A company that does business in more than one country.