GLOSSARY AID

Note: In this glossary aid, some of the words were compiled from several Hubbard College of Administration courses, or other related materials. It is not to be construed as a replacement for those glossaries and references, but merely as an aid to assist you in finding where those words may be found. Please consult the original source materials in your studies whenever possible.

Watch Terms: Rather than attempt to import a huge set of terms with regards to watches, here are three very good links that should give you all the definitions you need to know. Explanation of how watches work Hublot Watch Glossary Pamp Jewelry Glossary

Diamond Questions: Diamond Cutters International

A – TOP A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

acceptable: gold bullion of high enough purity to be accepted as “good delivery,” fulfilling a purchase contract.

Accounts Receivable: See AR.

acrylic crystal: See plexi crystal.

actual(s): actual gold bullion, as opposed to paper contracts or commodities futures.

Adjusted cost: The adjusted cost is the piece’s current market value. It’s what we need to pay to replace that item through a vendor, such as Oris Watches. Example: A watch purchased at a cost of $575 a year ago, which would now cost us $615 to replace today, will have its cost adjusted to reflect its current market value. It also includes what we paid to have it shipped. If it’s a pre-owned piece the adjusted cost is what we can wholesale it for, which in turn is the market value. The adjusted cost of a pre-owned piece also includes any repair expense we incur to bring the item up to a saleable condition.

Admin (administration): the actions involved in administering an organization. The clerical and executive decisions, actions and duties necessary to the running of an organization, such as originating and answering mail, typing, filing, dispatching, applying policy and all those actions, large and small, which make up an organization. (from: How to Get Things Done)

ADT Security Services (usually called ADT): is a division of Tyco International and a major worldwide supplier of electronic security systems. ADT began in 1874 as the American District Telegraph Company. Later on, they changed their business from sending telegrams to sending alarm signals. With over 20 million customers nationwide ADT has grown to be a powerhouse of the securities industry. ADT Home Security’s main product is MONITORING service, whereby they maintain a centralized monitoring station that receives electronic signals from your alarm system when an alarm event is triggered. (from: www.wikipedia.com)

AGS: Abbreviation for American Gem Society. The American Gem Society was established in 1934 by a select group of independent jewelers and Robert M. Shipley, founder of the prestigious school of gemology, the Gemological Institute of America (GIA). It was their vision to create an association dedicated to setting and maintaining the highest possible standards of business ethics and professionalism in the jewelry industry. Today, American Gem Society members continue their dedication to ethics, knowledge and consumer protection. (from: www.ags.org)

alchemy: the ancient, pre-scientific study of matter that had, as one of its goals, the creation of gold from base metals.

alloy: a mixture of two or more metals created by melting them together. An alloy has properties that the individual metals don’t have on their own. Fine jewelry is usually made from alloys of precious metals and other industrial metals like Zinc or copper because they are more durable than the pure precious metals, but keep their high value. See colored golds for examples.

alluvial: made up of the sand or clay washed down by flowing water. (from: Websters)

aluminum: is a soft and lightweight metal with a dull silvery appearance, due to a thin layer of oxidation that forms quickly when it is exposed to air. Aluminium is used in many industries to make millions of different products and is very important to the world economy. Structural components made from aluminium and its alloys are vital to the aerospace industry and very important in other areas of transportation and building in which light weight, durability, and strength are needed.

Altimeter: A devise that determins altitude by responding to changes in barometric pressure. (from: American Watch Guild Glossary)

amalgam: metallic solution of mercury and another metal. If gold or silver comes in contact with mercury, it softens and discolors. The metal can be restored by gentle application of heat, which drives off the mercury as vapor (toxic). Amalgams of silver are commonly used for dental fillings.

amalgamation: passing pulverized, precious metal ore over surfaces “wetted” with mercury to trap gold and silver. When the mercury saturates with precious metal, it is heated to drive off the mercury. The gold or silver is left behind. The mercury vapor is condensed and used again. The amalgamation of gold with mercury was the principal method of extracting gold from ore until the late nineteenth century, when it was largely replaced by cyanidation.

American Gem Society: See AGS.

analog watch: using hands, dials, etc. to show numerical amounts, as on a clock; as opposed to digital. See Watch Terms.

Amorologi Mechanica: A line of inexpensive watches sold in our stores.

annealing: to subject an alloy, metal, or glass to a process of heating and slow cooling to make it tougher and less brittle. (from: Encarta Dictionary)

Anonimo Watches: Founded in Florence, Italy in 1997 by respected designer & entrepreneur Frederico Massacesi. His vision was to create an enterprise specializing in the production of unique Italian timepieces focused on staying true to Florentine watch making tradition. The name Anonimo, the Italian word for anonymous, was born out of the fundamental philosophy of the company. This philosophy is based on the principle that the watches are not about us, they are about the individual that wears them and are a testimony to and an expression of the personality of the wearer. They are an expression of the values and principles which are inseparable from those of the company: Honesty & Originality. (from: www.anonimo.com)

antimagnetic watches: watches not, or hardly, affected by magnetic fields. For the balance springs of the balance non-magnetic nickel alloys are used. Additional protective devices such as iron dials and covers may also be used. See Watch Terms.

AOD: (Acknowledgment of Delivery) This is a label that sticks onto a UPS package. When the package is delivered the label is sent back to us with the date of delivery. You also have the option of requiring that the package be signed for by checking the appropriate box. You cannot restrict delivery to a specific person. An AOD prevents the UPS man from just leaving the package on a doorstep.

application: the act of using; use. (from: Improving Business Through Communication)

approved refiner: a refiner whose bars are considered acceptable.

APR: Annual Percentage Rate, Finance charge on a loan over a one year period expressed as a percentage. This method is used to calculate and compare the actual finance costs. www.moneyglossary.com

aqua regia: a mixed acid made up of three parts hydrochloric acid and one part nitric acid that can dissolve gold and other noble metals. Latin for “royal water,” it was discovered by alchemists in the Middle Ages.

arbitrary: based solely on personal wishes, feelings, or perceptions, rather than on objective facts, reasons, or principles. (from: www.encarta.com)

AR payment (Business Mind Function): Accounts receivable is one of a series of accounting transactions dealing with the billing of customers which owe money to a person, company or organization for goods and services that have been provided to the customer. (from www.wikipedia.com) In an older version of Business Mind, that particular POS option used to be called AR, but it was a function intended for credit debt collection. We don’t offer a line of credit direct through Leo Hamel & Co. so it was changed & renamed to a general store credit function. Basically the same thing as a layaway except no item is reserved from inventory. But it still prints out AR on invoices of a customers availible store credit as a hold-over from the earlier software.