Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: A

ACCOMPLISHED

A skilled person in a speficic area. Or the past tense of accomplish.

ACCOUNTING CONTROL SYSTEM

The ways a company control their accounting practices. The goal is to follow rules and procedures, protect the company, and provide timely reports.

ACCRUED INTEREST

The interest on a BOND or LOAN that has been earned but not yet paid. Interest payable/receivable accumulates between COUPON payment periods; once a periodic interest payment is made, accrued interest reverts

ACTUATOR

A mechanical device that controls power flow.

ADAPTIVE ORGANIZATION

An organization that keeps up with rapid change by acting like a chameleon. Employees have more decision power.

ACCESS TIME

The time delay between the request and its completion. AKA data access time.

ACCOUNTING COST

The value of resources that are used to complete an activity. Refer to economic cost.

ACCRUED REVENUE

Profit earned in current period but will be collected in the next period. AKA unrealized revenue.

ACQUIT

When a person accused of a crime is legally freed by a court generally as a result of lack of evidence. This decision cannot generally be appealed unless in a special circumstance.

ACUTE EFFECT

A negative effect on animals or humans. It occurs quickly and leads to health problems. The problems leave when no longer exposed. Refer to chronic effect.

ADDENDUM

A document attached to clarify or modify a part of a contract.

ACTIVITY ATTRIBUTES

The capacity of any activity. This includes time and cost drivers to name just two factors.

ACCESSION

When one party takes charge of anothers property or records by a contract that both parties agree to.

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