The Hierarchy of GAAP refers to a four-level framework that classifies FASB and AICPA pronouncements on accounting practice by their level of authority. Top-level pronouncements typically address broad issues while those at lower levels deal with the
Termination of employment refers to the end of an employee’s work with a company. An employee may be terminated from a job of their own free will or following a decision made by the employer.
The glass ceiling is a metaphor referring to an artificial barrier that prevents women and minorities from being promoted to managerial- and executive-level positions within an organization. The phrase “glass ceiling” is used to describe the difficulties
A qualified trust is a tax-advantaged fiduciary relationship between an employer and an employee in the form of a stock bonus, pension, or profit-sharing plan. In a qualified trust, the underlying beneficiary may use his or her life expectancy to determine
A quality control chart is a graphic that depicts whether sampled products or processes are meeting their intended specifications and, if not, the degree by which they vary from those specifications. When each chart analyzes a specific attribute of
Knowledge capital is the intangible value of an organization made up of its knowledge, relationships, learned techniques, procedures, and innovations. In other words, knowledge capital is the full body of knowledge an organization possesses.
The working-age population is the total population in an area that is considered able and likely to work based on the number of people in a predetermined age range. The working-age population measure is used to give an estimate of the total number
An installment debt is a loan that is repaid by the borrower in regular installments. An installment debt is generally repaid in equal monthly payments that include interest and a portion of the principal. This type of loan is an amortized loan that
A triggering event is a tangible or intangible barrier or occurrence which, once breached or met, causes another event to occur. Triggering events include job loss, retirement, or death and are typical for many types of contracts. These triggers help
A barrier option is a type of derivative where the payoff depends on whether or not the underlying asset has reached or exceeded a predetermined price. A barrier option can be a knock-out, meaning it expires worthless if the underlying exceeds a