NON-COMPETE CLAUSE
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.
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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
The risk that is undertaken on the company’s use of a product that is obsolete.It significantly affects their business and revenues. Technology companies are the most susceptible to this risk.
The probability of the occurrence of an event that is expressed as a ratio of the possible occurrences to the possible nonoccurences. The odds of an event A is given by p(A).
Items such as litigation procedures which are usually not reflected as an expense on the balance statement. However, they do need to be repaid at a later date.
An individual who is appointed by bankruptcy court who has no connection to the property on which debt is charged. This individual manages the property and presides over the meetings of creditors,
A firm which is headquartered in another country, where it is registered or where the investors of the firm reside.
A law that was passed in 1990 by the US that places civic liability on tanker vessels and facilities that explore and transport oil, for the removal and damages incurred due to
An account held in the name of a Futures Commission Merchant (FCM) that combines the transactions of two or more other individuals. Compare with Fully Disclosed Account.