Management Accounting - Reporting designed to assist management in decision-making, planning, and control. Also known as Managerial Accounting.

Management Discussion and Analysis (MD&A) - SEC requirement in financial reporting for an explanation by management of significant changes in operations, ASSETS, and LIQUIDITY.

Management"s Report - Management is required to include in its annual report its assessment of the effectiveness of the company"s internal control over financial reporting in addition to its audited financial statements as of the end of the most recent fiscal year.

Managerial Accounting - See MANAGEMENT ACCOUNTING.

Margin - Excess of selling price over the unit cost.

Mark-to-Market - Method of valuing ASSETS that results in adjustment of an asset"s carrying amount to its market value.

Marketable Securities - Stocks and other negotiable instruments which can be easily bought and sold on either listed exchanges or over-the-counter markets.

Married Taxpayers - Taxpayers that are married may file a JOINT RETURN, therefore combining their INCOME and expenses. Individuals will be considered married if:

1. They are living as husband and wife;
2. They are recognized living as common law marriage; or
3. Legally married but separated and living apart but not legally divorced.

Marriage is determined as of the last day of the tax year.

Matching Principle - A fundamental concept of basic accounting. In any one given accounting period, you should try to match the revenue you are reporting with the expenses it took to generate that revenue in the same time period, or over the periods in which you will be receiving benefits from that expenditure. A simple example is depreciation expense. If you buy a building that will last for many years, you don"t write off the cost of that building all at once. Instead, you take depreciation deductions over the building"s estimated useful life. Thus, you"ve "matched" the expense, or cost, of the building with the benefits it produces, over the course of the years it will be in service.

Material Weakness - A significant deficiency or combination of significant deficiencies that results in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected.

Materiality - Magnitude of an omission or misstatements of ACCOUNTING information that, in the light of surrounding circumstances, makes it probable that the judgment of a reasonable person relying on the information would change or be influenced.

MD&A - See MANAGEMENT DISCUSSION AND ANALYSIS.

Merger - BUSINESS COMBINATION that occurs when one entity directly acquires the ASSETS and LIABILITIES of one or more entities and no new corporation or entity is created. (See CONSOLIDATION.)

Monetary Items - Definite fixed amounts stated in terms of dollars, either by law or by contract agreement.

Mortgage - Legal instrument evidencing a security interest in ASSETS, usually real estate.Mortgages serve as COLLATERAL for PROMISSORY NOTES.

Municipal Bond - BOND issued by a government or public body, the INTEREST on which is typically exempt from federal taxation.

Matching Principle - A fundamental rule f baxic accounting. In any one given accounting period, you should try to match the revenue you are reporting with the expenses it took.

Mutual Fund - Investment company which generally offers its shares to the general public and invests the proceeds in a diversified portfolio of SECURITIES. (See CLOSED-END MUTUAL FUND and OPEN-END MUTUAL FUND.)