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Auditing Terms - Oobject breakdown structure (OBS) - (organizational structure of programming object components)
Object-Oriented System/Software Development (OOSD) - (programming method which uses a naming/classification convention for creating smaller components called objects)
object request broker (ORB) - (system-oriented middleware components which manage communications between objects residing on different systems)
occupant emergency plan (OEP) - (plan describing the actions that facility occupants should take in order to ensure their safety during an emergency situation)
Occupational Safety and Health Act (OSHA) (OSH Act) - (federal law concerned primarily with the regulation of working conditions in commerce and industry)
Occupational Safety and Health Administration (OSHA) - (federal agency charged with enforcing the Occupational Safety and Health Act - law concerned primarily with the regulation of working conditions in commerce and industry)
off-balance-sheet (OBS) - (transactions/accounts that are not recorded/do not appear on the balance sheet)
Office of Federal Procurement Policy (OFPP) -
Office of Internal Oversight Services (OIOS) - (internal auditing/oversight body of the United Nations)
Office of Management and Budget (OMB) - (agency within the Office of the Presidency responsible for preparing the budget)
Office of Supervisory Jurisdiction (OSJ) - (NASDAQ)
Office of Thrift Supervision (OTS) - (agency of the U.S. Treasury Department charged with overseeing the savings and loan industry)
old account (OA) - (an account receivable collected after a long period of time)
On-Balance Volume (OBV) - (market analysis method based on the size of the accumulation of securities)
on-demand computing (ODC) - (computing model in which system resources are allocated to users according to their current needs)
online analytical processing (OLAP) - (method of processing, organizing, and reporting data to meet the needs of a business unit or business line)
Online Certificate Status Protocol (OCSP) - (protocol which allows for real-time validation of a digital signature certificate to determine whether the certificate is valid, invalid, or unknown)
Online Privacy Protection Act (OPPA) - (2003 California privacy law)
Open Shortest Path First (OSPF) - (routing protocol which determines transmission path based on link speed between two routers)
Open Systems Interconnection reference model (OSI) - (a network protocol model which segments networking tasks, protocols, and services into different layers)
opening balance (OB) - (beginning balance)
operating expense (OE) - (expense incurred by a firm over a period in carrying out its normal operations)
operating income (OI) - (income from operations - the result of selling a product or service at a price above the cost of production)
operating income before amortization (OIBA) - (operating income before the deduction of amortization)
operating loss (OL) - (excess of operating expense over gross profit)
operating profit (OP) - (operating income - the result of selling a product or service at a price above the cost to produce)
operating system (OS) - (a master control program that runs the computer and acts as a scheduler and traffic controller)
Operations Research (OR) - (quantitative models) (mathematical and statistical methods used to solve managerial and decision-making problems)
opportunity cost of revenue (OCAR) - (the revenue that could be produced if the money was being invested, rather than spent on operations)
Optical Character Recognition (OCR) - (computer tool that recognizes typed or printed characters)
Option Adjusted Spread (OAS) -
Options Clearing Corporation (OCC) - (largest clearing organization in the world for financial derivative instruments)
Options Prices Reporting Authority (OPRA) - (NASDAQ)
Options Pricing Model (OPM) - (model for determining how the market is valuing options)
Order Audit Trail System (OATS) - (NASDAQ)
ordinary time earnings (OTE) - (earnings from an employee's ordinary hours of work)
Organization of Arab Petroleum Exporting Countries (OAPEC) -
Organization for Economic Cooperation and Development (OECD) - (international organization promoting democratic government and market economies, providing technical assistance)
Organization of Petroleum Exporting Countries (OPEC) - (international organization of countries dependent on oil exports for revenue)
original issue discount (OID) - (amount by which the issue price is less than the face amount of a stock or the redemption price of debt)
Osaka Securities Exchange (OSE) -
Oslo Stock Exchange (OSE) - (Oslo Børs)
other adjustment account (OAA) - (account used by an S corporation to record tax exempt income and related expenses)
Other Comprehensive Basis of Accounting (OCBOA) - (a basis of accounting, other than Generally Accepted Accounting Principles (GAAP), used to report financial condition - income tax basis, cash basis.)
other nonprofit organization (ONPO) - (non-business organization not covered by AICPA audit guides)
other post-retirement employee benefit (OPEB) -
Over the Counter stock (OTC) - (security that is not listed and traded (smaller companies) on an organized exchange) (securities market not on the floor of an exchange)
Over the Counter Bulletin Board (OTCBB) - (electronic listing of over-the-counter stocks not listed on the NASDAQ stock-listing system)
overhead (OH) - (costs not directly tied to manufacturing or the provision of services - shared costs)
owner's equity (OE) - (the equity of the owner of a business in the assets)