OVER-EXPENDITURE
Occurs when expenditure exceeds the budgeted amount.
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Occurs when expenditure exceeds the budgeted amount.
To place demands on a piece of equipment or a system that are in excess of its capacity, typically resulting in damage to equipment or system collapse.
This is the arrangement under which a number of share holders can apply to purchase the portion of a rights issue that is not distributed.
A provision within insurances policies that allows a policy to be owned by someone other than the person insured.
Return on an investment given in current dollars, without taking into account the effects of compounding, discounting or inflation.
An activity whose removal will not affect a process as it usually generates a zero or negative return of investment on resources.
Also referred to as nonbank financial companies, these are financial companies that perform the traditional duties of a bank without the possession of legal banking classification.
A clause in a business sale transaction that denies access to the seller from conducting a similar business in the specified area for a certain period of time, usually three years.
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 expected to be
A clause, that is also referred to as coordination of benefits, states that the benefits of the insurance will not cover the same losses that are covered by another insurer.
Methods that do not encompass the “generally accepted accounting policies”, to calculate the financial information about companies. The real value of the company is difficult to analyze due to a lack of
An instrument such as a document or a financial instrument that cannot be transferred between the holder and any other individual or institution.
Distributors at various stages of the same supply chain collude to alter the supply and thus the price of goods and services.
Costs such as initial investments, losses, moving expenses that are bound to occur only once in the usual course of operation for a business.
Cost that cannot be assigned to any task or function due to the lack of sufficient data for its assignment. As such, it assigned on an arbitary basis.
A evaluative rather a descriptive approach used to determine the degree of conformity to the standard norms or recommendations. For example, normative data is used to understand the underlying phenomenon rather than
When the amount available in the drawer’s account is less than the amount stated on the check, the bank reserves the right to return the check to the depositor. When this occurs,
When negotiations break down between the labor union and the employer, this notice is issued by the labor union to the relevant government authorities stating its intent to suspend all activities and
A material that possesses radioactive properties. Nuclear materials such as Uranium 233 or 235 are used to produce nuclear energy.
A person assuming a position in a public office either through election or appointment is expected to take this formal oath which reminds them of their obligations to the public and to