An individual who is given the role of a non executive director on the firm’s board of directors, in place of another person, investor or financial institution. It also refers to a

A company that is formed by a financial institution or another organisation which operates an account that holds assets and securities on behalf of the actual owner under the terms of a

A committee that operates under the corporate governance department on an organization and performs various duties that depend on the company. However, their main focus is on the evaluation of the company’s

Also known as categorical variables or the variables in financial equations that are not dependent on the rate of inflation and other such factors.

An indicator stating the Buying or selling prices that is used for valuation purposes, rather than as a bid or offer.

Data that contains significant information regarding the items being costed but does not include any information related to cost. Some examples include technical descriptions, schedules, etc

A chart with more than three parallel lines that have a high degree of calibration and alignment, such that, a straightline placed on two known values on two different line will lead

Tickets that can be claimed for travel only on the carrier that it is issued for.

An activity whose removal will not affect a process as it usually generates a zero or negative return of investment on resources.

A set of measures aimed to restrict imports and does not include high import duties or tariffs.

Charitable organization that foster cultural and social unity to achieve objectives related to public service. The initial capital investment is provided by the founding members who do not expect its repayment or

An abbreviation for nondomiciled. It refers to an individual living in the United Kingdom who is a temporary resident (sometimes a foreign national), and only pay taxes on income generated in or

Rejection by a drawee due to a failure to honor the instrument of negotiation (a bill of exchange)

The sum of winnings and losses of all player does not add up to zero and represents a possibility where everyone can win. In game theory, this refers to the situation when

time and monetary costs that increase the total cost of an activity without enhancing the value of the goods or services in the eyes of the customer

An understanding or arrangment between the employer and employee that accounts for the reimbursement of employee expenses unrelated to the business. It also refers to reimbursements that were not requested within the

A company that is no longer trading, albeit on a temporary basis

A loan that is considered to be nonperforming due to nonpayment of interest or the uncertainty regarding the collection of principal. For example, nonpayment of interest for 90 days deems that the

A freight forwarder or shipment consolidator who does not have ownership of the vessel, but assumes responsibilities for the shipments and issuing its own bills of lading and airway bills.

Assets such as the interest on a bank deposit, that are only recorded only upon the realization of the earnings.