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Accounting F
Factor cost
Factor intensity
Factor mobility
Factor price frontier
Factor prices
Factor productivity
Fair Trading Act 1973
Federation of British Industries
Fellow subsidiaries
Fictitious assets
Fidelity guarantee
Final accounts
Final goods
Financial accountant
Financial assets
Financial year
Firm objective
Firm-specific human capital
First in first out (F.I.F.O.)
First-mover advantage
Fixed assets
Fixed charge
Fixed coefficient production function
Fixed costs
Fixed factors
Fixed investment
Fixtures, fittings, etc
Flag carrier
Flags of convenience
Flexible wages
Flight coupon
Floating assets
Floating capital
Floating charge
Flow chart
Footloose industry
Foreign trade
Forward dating
Forward integration
Forwarding agent
Foul bill of lading
Founders' shares
Fourth schedule
Franchise policy
Franco, rendu, or free contracts
Franked investment income
Fraud, agreements to commit
Fraudulent conveyance
Fraudulent preference
Fraudulent preference: companies
Fraudulent trading
Free alongside ship (f.a.s.)
Free depreciation
Free enterprise
Free entry
Free exit
Free goods
Free lunch
Free on board (f.o.b.)
Free on board and trimmed
Free override - see Ex ship
Free rider
Free reserves - see Company reserves
Free-trade zones
Freedom of entry
Freehold land
Freight forward
Freight notes
Freight release - see Advance freight
French companies
French gold francs
Fringe benefits
Frozen assets
Frozen charge - see Floating charge
Frustration of contract
Full cost pricing
Full-line forcing
Fundamental analysis
Fundamental terms
Fur auctions
Future goods, sale of

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Flags of convenience


Flags of convenience

All merchant ships must be registered with one country or another. Owners of ships registered in the U.K. are subject to taxation there and must abide by all the legislative requirements of that country regarding crew conditions, wages, etc. To avoid onerous taxes and employment regulations, there has been a strong tendency (particularly since 1945) for shipowners to register their vessels in certain small countries where regulations and requirements are minimal. They must then fly the flag of that country; such flags are known as 'flags of convenience'. The increasing influence of the trade union movement in the U.K. and other developed nations is already having an effect on reducing the advantages of this practice as far as conditions of employment are concerned. Parallel action by the Treasury and the Inland Revenue could eliminate it altogether.

Reference: The Penguin Business Dictionary, 3rd edt.