MACRS
A type of depreciation known as the Modified Accelerated Cost Recovery System.

Management Accounting
The process of identification, measurement, accumulation, analysis, preparation, interpretation, and communication of financial information used by management to plan, evaluate, and control within an organization and to assure appropriate use of and accountability for its resources. Management accounting also comprises the preparation of financial reports for non-management groups such as shareholders, creditors, regulatory agencies, and tax authorities.

Management Information System (MIS)
A well-developed data management system that provides uniform organizational information from all areas of the entity within a database. Information within the database is manipulated to help management reach accurate and rapid organizational decisions.

Management Letter
Identifies issues not required to be disclosed in the Annual Financial Report but represent the auditor's concerns and suggestions noted during the audit.

Management Report
A report describing company performance, prepared monthly for the officers of a  corporation.

Mark Endorsement
Normally, it is when a signatory (payee) cannot endorse with their signature, due to illiteracy or an infirmary, the signatory is allowed to make a mark that identifies that the signatory has signed. Such mark endorsements are normally witnessed with the witness endorsing the mark endorsement.

Market Value
In general, is the price at which buyers and sellers trade similar items in an open marketplace. In the absence of a market price, it is the estimated highest price a buyer would be warranted in paying and a seller justified in accepting, provided both parties were fully informed and acted intelligently and voluntarily.

Markup
The amount added to the cost of goods in order to produce the desired profit.

Matrix Organization
Where a company superimposes a group or interdisciplinary team of project specialists on a functional organizational design. In a matrix organization the members have dual allegiances, i.e., to that particular assignment or project as well as their normal organizational department.

Maturity
The date when the borrower is obliged to pay back the loan.

Mechanic’s Lien
A lien on real property made by a contractor or builder for payment overdue. A builder can request a mechanic’s lien if he or she has not been paid according to the contract to build or improve the property.

Member
An investor in a limited liability company.

Mezzanine Financing
Usually is a class of investment that is a stage intermediate between venture capital and an initial public offering; or, subordinated debt used in leveraged buyouts (LBOs).

Misappropriation
A nonviolent criminal taking of property. Includes embezzlement, theft, and fraud. Often applied to an employee’s taking of an employer’s property.

Modified Accelerated Cost Recovery System (MACRS)
A system used in accounting to define the rate and method under which a fixed asset will be depreciated for tax purposes.

Mortgage
A deed giving ownership of a property to a borrower on the condition that the borrower makes all interest and principal payments to a lender. The lender owns the mortgage until the borrower pays in full, after which the borrower becomes sole owner of the property.

Mortgagee
Name for the lender who supplies mortgages and collects mortgage payments.

Mortgagor
On a mortgage, the borrower who must pay the interest and principal.

Municipal Bond
A bond issued on behalf of a municipality, such as a city, state, or government agency, to cover its debts.

Mutual Fund
An investment company that trades in bonds, stocks, Treasury Bills, securities, real estate, and other items, on behalf of its stockholders. Shares in a mutual fund are offered on a continual basis, and investors can always buy in.

Mutual Agency
The right of all partners in a partnership to act as agents for the normal business operations of the partnership, with the authority to bind it to business agreements.