1. Asset that is not eligible for conversion into cash within a year of the date of the balance sheet . 2. Capital goods such as machinery which are not […]

A long term liability or financial obligation that has to be settled in a period that is longer than 12 months.

An account that can be collected more than a year from the date of the balance sheet.

1. General: An obligation that cannot be outsourced toa third party according to the terms of the contract. In the event that it is delegated, the second party reserves the […]

When an asset can be bought or sold at a predetermined price and time in terms of cash.

Neglect, failure, or refusal to deliver goods, on the part of a carrier, vendor, bailee, etc.

An intermediary organization such as the government that facilitates transactions between the savers and borrowers. Time deposits are however not accepted. These intermediaries source their lending activities through the sale […]

A method of quality control that is performed on a finished item instead of a sample. As such, it leads to no damage of the tested product. Common techniques include […]

Omission on the part of a judge to properly instruct the jury upon a necessary conclusion of law .

A less severe injury compared to partial or complete disability that is eligible for a monetary compensation . Typically includes a disability payments for a month.

The non coverage of disability of the rider by income policies. However, it grants for the payment of medical costs that arise due to a less severe injury that does […]

A monetary obligation that is not disbursed immediately upon the sale of an individual ‘s assets or his declaration of bankruptcy. These include the incurred but unpaid taxes.

An entity that is not affected by the influence of another individual ‘s discretion or preferences. For example, a budget or a contract states the non discretionary spending that ought […]

A non avoidable expense that has been recorded in the account statements, but has yet to be fulfilled. For example, next month’s electricity bill.

A predetermined bonus that is stated in the agreement that has to be paid upon fulfillment of certain criteria. In contrast to the discretionary bonus, this bonus is paid at […]

During the event of a proxy vote, this requirement does not consider the proposal of the intermediary of the actual owner unless the owner explicitly allows such proposals.

The trustee has limited powers on the distribution of the amount to the trust’s beneficiary .

An agreement between two parties that prohibits criticism by one party on the other. Usually used in the settlement contract in an employment or dispute settlement.

In the event of any foreclosure action against the landlord, this agreement between the tenant and the landlord’s lender ensures that the tenant is not robbed of possession of his […]

Common risks to all companies that are avoidable by diversifying.

A financial instrument such as a bond or a stock that is not a part of the other equities held by the company.

A license that grants several licensees within the same industry, the same rights to an intellectual party at the same time or consecutively.

An independant director who is not a member of the management team.

Capital goods such as machinery that are not used up during a manufacturing process and thus retain their identity and features.

Items that are not used up during consumption and as such retain their identity.