Term
| The Law Firm charges less than its normal hourly rate with the agreement that the client will pay a larger fee if the work is done faster or with a better result that anticipated |
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Definition
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Term
| Insurance that pays claims arising out of incidents that occur during the policy term, even if they are filed many years later |
|
Definition
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|
Term
| Covers professionals for negligence and errors or missions that injure the clients |
|
Definition
| Personal Liability Insurance |
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Term
| Insurance on the life or health of key individuals whose services are essential to the continuing success of a business and whose death or disability could cause the firm a substantial financial loss |
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Definition
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Term
| Forms of Insurance that pays claims presented to the insurer during the term of the policy or within a specified term after its expiration. It limits liability insurers'' exposure to unknown future liabilities. |
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Definition
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Term
| An employee benefit plan under which the employer sets up benefit accounts and contributions are made to it by employer and by the employee. The employer usually matches the employee's contribution up to a stated limit. It includes PROFIT -SHARING PLANS, EMPLOYEE STOCK OWNERSHIP PLANS, AND 401(k) PLANS. |
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Definition
| Defined Contribution Plan |
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Term
| Client engages law firm to provide a specific service (e.g. confidentiality agreement, simple will, buy-sell agreement) for a set price. |
|
Definition
| Fixed or Flat Fee Arrangement |
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Term
| Client pays law firm up to a specified maximum amount, but no more. |
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Definition
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Term
| All time is billed equally regardless of who works on the matter. |
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Definition
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|
Term
| Client pays law firm based on the results achieved. Payment is often expressed as a percentage of the recovery, settlement or amount saved. |
|
Definition
| Contingency / Result-Based Fees |
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Term
| Law firm reduces its hourly rates in return for client guaranteeing a certain volume of legal work. |
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Definition
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Term
| The rent payable per month by the occupiers which includes the base rent, maintenance charges, imputed costs of loss of interest on security deposit and rental advance. |
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Definition
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|
Term
| Each calendar year in which any portion of the term of the lease falls, through and including the calendar year in which the term of the lease expires. |
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Definition
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|
Term
| Specified in lease agreements where renewals of lease period are built in. It involves an increment in the base rent at every renewal of a lease agreement and in general a percentage rate that is either pre-agreed or negotiated before the renewal of the lease agreement. |
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Definition
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Term
| A contract to enter into a lease which in order to be enforceable either must be evidenced in writing and signed by the person against whom action is taken for the breach of the alleged contract and there must be a sufficient act of part performance. |
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Definition
| Agreement for Lease / Lease Agreement |
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Term
| A monthly rental, net of maintenance and interest costs, charged or quoted by landlords for any property and comprised of only payment made for usage of the subject property under a lease agreement. |
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Definition
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|
Term
| Depicts the condition of any property after completion of construction activity and installation of basic building services which includes basic flooring. |
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Definition
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Term
| A person or company who brings owners and proposed buyers together with a view to complete a real estate deal |
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Definition
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Term
| Base rent plus tenant pays directly a share of real estate taxes, insurance, maintenance, repair, and operating costs. |
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Definition
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|
Term
| The initial rental rate, normally identified as the annual rent in a gross lease. |
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Definition
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|
Term
| The estimated or dollar value of the building work letter being offered by the landlord. |
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Definition
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|
Term
| One payment in which an owner has included estimated costs of operations. |
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Definition
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|
Term
| A broker's buzz word for rentable floor size. |
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Definition
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|
Term
| Base rent plus tenant pays directly a share of real estate taxes. |
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Definition
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|
Term
| The factor used to determine a tenant's pro rata share of the common area. |
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Definition
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|
Term
| The dollar amount per square foot per year figure that the tenant pays on an average over the term of the lease. |
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Definition
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|
Term
| Records documenting the daily operation and administration of an office. |
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Definition
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|
Term
| Copies of outgoing correspondence arranged in chronological order. |
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Definition
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|
Term
| Filing in sequence according to date. |
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Definition
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|
Term
| A file to which no documents will be added. |
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Definition
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|
Term
| A repository for and collection of archival records. |
|
Definition
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|
Term
| Groupings of records that pertain to a specific person, place , thing, event, or program. |
|
Definition
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|
Term
| Records of enduring value, documenting the history and the development of the organization. |
|
Definition
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|
Term
| Records that do not have to be readily available, but that have to be kept for legal or historical purposes. |
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Definition
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|
Term
| The records management premise that records pass through three stages: creation, maintenance and use, and disposition. |
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Definition
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|
Term
| Recorded information of any kind and in any form, either originated or received by an organization which includes papers, correspondence, forms, books, photographs, films, sound recordings, maps, drawings, and other documents. |
|
Definition
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|
Term
| A comprehensive schedule of record series (by office or department), indicating for each series the length of time it is to be maintained in office areas, in a records center, and when and if such series may be digitized or microfilmed, destroyed, or transferred to the archives. |
|
Definition
| Record Retention Schedule |
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|
Term
| A low-cost facility for the controlled maintenance, retrieval and disposal of inactive records. |
|
Definition
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|
Term
| The systematic control of all records from their creation or receipt through processing, distribution, organization, and retrieval to their ultimate preservation and disposition. |
|
Definition
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|
Term
| Records containing confidential or highly sensitive information. Access to those records is restricted to eliminate the possibility of illegal or otherwise undesirable disclosure. |
|
Definition
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|
Term
| The length of time records must be kept before they are eligible for destruction or archival preservation. |
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Definition
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|
Term
| Locating and delivering records for use. |
|
Definition
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|
Term
| Published, publicly available information held for consultive or research purposes. |
|
Definition
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|
Term
| Filing in which the primary arrangement is numerical. |
|
Definition
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|
Term
| Records of indefinite, long-term value. |
|
Definition
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|
Term
| Insurance providing financial protection against the loss of, or damage to, property caused by specified perils. |
|
Definition
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|
Term
| Insurance covering the policyholder's legal liability for injuries to other persons or damages to their property. |
|
Definition
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|
Term
| Protection for a business owner against losses resulting from a temporary shutdown because of fire or other insured peril. The insurance provides reimbursement for lost net profits and necessary continuing expenses. |
|
Definition
| Business Interruption Insurance |
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|
Term
| A package insurance policy providing coverage against a limited number of special risks. |
|
Definition
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|
Term
| A type of liability policy which covers claims which occur and are reported while the policy is in effect. |
|
Definition
| Claims Made Form / Claims Made Coverage |
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|
Term
| A method of providing for the cost of medical care and payments to injured employees or to dependents of those hurt or killed in the workplace, regardless of blame. |
|
Definition
| Workers Compensation Insurance |
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|
Term
| The measured area of an office area, store area, or building common area on a floor. The total of usable areas for a floor plan shall equal floor usable area of that floor. |
|
Definition
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|
Term
| The sum of all the floor rentable areas. The portion of the inside finished surface of the permanent outer building wall which is 50% or more of the vertical floor-to-ceiling dimensions, at the given point being measured as one moves horizontally along the wall. |
|
Definition
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|
Term
| The result of subtracting from the gross measured area of a floor the major vertical penetrations on the same floor. It is generally fixed for the life of the building and is rarely affected by changes in corridor size or configuration. |
|
Definition
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|
Term
| A wall, ceiling or floor surface, including glass, as prepared for tenant use, excluding the thickness of any special surfacing materials such as paneling, furring strips and/or carpet. |
|
Definition
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|
Term
| The total construction area of a building. It is generally not used for leasing purposes. |
|
Definition
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|
Term
| In the case of store area with street level frontage, the dominant portion shall be the building line. |
|
Definition
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|
Term
| The area where a tenant normally houses personnel and/or furniture, for which a measurement is to be computed. |
|
Definition
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|
Term
| Stairs, elevator shafts, flues, pipe shafts, vertical ducts, and the like and their enclosing walls. Atria, light wells and similar penetrations above the finished floor are included in this definition. |
|
Definition
| Major Vertical Penetrations |
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|
Term
| Partners cannot be removed except by an extraordinary vote of the partnership. |
|
Definition
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|
Term
| The ratio of junior to senior professional staff. |
|
Definition
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|
Term
| A system whereby the firm adopts a mandatory policy of sending a questionnaire to clients at the end of each engagement, inviting the client to evaluate the firm |
|
Definition
| Systematic Client Feedback |
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|
Term
| A partner's work is no longer subject to automatic review by others. |
|
Definition
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|
Term
| Partners share in the new profits (or losses) of the firm. |
|
Definition
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|
Term
| The process by which an organization delivers and sustains support services in a quality environment to meet strategic needs. |
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Definition
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|
Term
| The amount of weight a floor can hold without collapsing. |
|
Definition
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|
Term
| The planning, organizing, directing and controlling of company resources for a relatively short-term objective that has been established to complete specific goals and objectives |
|
Definition
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|
Term
| One who holds or possesses land or tenements by any kind of right or title. |
|
Definition
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|
Term
| A partner with ownership interests in the firm who shares in the firm's profits.. |
|
Definition
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|
Term
| An economic relationship a law firm has with a client that is not based on the law firm billing the client on an hours-time basis. |
|
Definition
| Alternative Billing Arrangement |
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|
Term
| Costs incurred by the firm on behalf of clients. |
|
Definition
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|
Term
| Three general categories: (1) associate compensation; (2) administrative staff salaries; (3) fringe benefits & other employee costs. |
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Definition
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|
Term
| Out of pocket expenditures made by a law firm in connection to a specific client, such as airfare, hotel and external duplicating. |
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Definition
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|
Term
| Typically pertains to increases/decreases to partners' capital accounts, and proceeds from or payments relating to debt (part of a statement of cash flows). |
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Definition
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|
Term
| Annual return/report of employee benefit plan filed annually with Department of Labor and is used by agencies responsible for enforcement of employee benefit plan. |
|
Definition
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|
Term
| Represents the dollar amount of standard time charges which are eventually billed and collected by a law firm. |
|
Definition
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|
Term
| Request For Proposal; opportunity for vendor to express the qualifications and response to a series of specific requirements. |
|
Definition
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|
Term
| A system that establishes standards and how the system ultimately insures that established procedures are followed. |
|
Definition
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|
Term
| Firm contributions, which may be discretionary each year, generally allocated to participants based on compensation, and are credited to separate accounts for the participants. |
|
Definition
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|
Term
| Owners are employees and shareholders of the corporation. Salaries paid to employees and shareholders are subject to the normal withholding tax requirements, including FICA and FUTA. |
|
Definition
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|
Term
| Reconciliation of income per books with income per return. |
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Definition
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|
Term
| Partners' share of income, credits, deductions, etc., that are required to be recorded directly to each partner. |
|
Definition
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|
Term
| Benefits that have been exempted from income taxation by law to encourage employers to provide these benefits to their employees, such as medical insurance, disability and group-term life insurance. |
|
Definition
| Statutory Fringe Benefits |
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|
Term
| Internal costs that a predetermined billing value such as copy and facsimile. |
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Definition
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|
Term
| May include rent of office space, electricity and other utilities, commercial rent and occupancy taxes, amortization of leashold improvements, and storage costs for records. |
|
Definition
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|
Term
| A partner who does no have a vote in partnership matters or a percentage interest in the current year's profits. |
|
Definition
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|
Term
| Firm contributions, which are mandatory under the contribution formula, generally are based on compensation. |
|
Definition
| Money Purchase Pension Plans |
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|
Term
| A method of accounting utilizing the cash basis accounting system while incorporating some accrual basis accounting concepts. |
|
Definition
| Modified Cash Basis Accounting |
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|
Term
| An income replacement policy which pays money when a disability arises from some cause recognized in the policy to qualify the insured for benefits. |
|
Definition
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|
Term
| Income (including wages, interest, capital gains, income from retirement accounts, alimony paid to you) adjusted downward by specific deductions (including contributions to deductible retirement accounts, alimony paid by you); but not including standard and itemized deductions. |
|
Definition
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|
Term
| Professional employer organizations (PEOs) enable clients to cost-effectively outsource the management of human resources, employee benefits, payroll and workers' compensation. |
|
Definition
| Professional Employment Organization (PEO) |
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|
Term
| Provides coverage for any current, past or future lawyers, employees, designated counsel, "of counsel," attorneys, and predecessor firms of the law firm that is purchasing the policy. |
|
Definition
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|
Term
| This exists if the representation of one client will be directly adverse to another client; or there is a significant risk that the representation of one or more clients will be materially limited by the lawyer's responsibilities to another client, a former client, or a third person or by a personal interest of the lawyer. |
|
Definition
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|
Term
| A budgeting and billing system designed to provide clients and law firms with meaningful cost information on legal services. |
|
Definition
| Uniform Task Based Management System (UTBMS) |
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|
Term
| A demand made by the insured, or the insured's beneficiary, for payment of the benefits provided by the contract.. |
|
Definition
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|
Term
| The component of an organization's records management program that defines the period of time during which records are maintained and specifies procedures for the transfer and disposition of records. |
|
Definition
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|
Term
| The records to be kept by law or those that may be needed in case of litigation or government investigation. |
|
Definition
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|
Term
| Fee charged by a lawyer to secure the services of that lawyer and as a consideration that the lawyer will not be available to represent an adverse or potentially adverse party. |
|
Definition
|
|
Term
| Interest on Lawyers' Trust Accounts |
|
Definition
|
|
Term
| Legal fees for work not yet performed. |
|
Definition
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|
Term
| Failure to properly maintain a trust account, whether intentional or negligent. |
|
Definition
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|
Term
| A business that is owned and managed by 2 or more people who are personally liable for al business debts. |
|
Definition
|
|
Term
| A legal structure authorized by state law that allows a business to organize as a separate legal entity from its owners, thereby shielding them from personal liability from business debts & obligations, and allowing the business to take advantage of corporate tax rules. |
|
Definition
|
|
Term
| A type of partnership recognized in a majority of states that protects a partner from personal liability for negligent acts committed by other partners or by employees not under his or her direct control. |
|
Definition
| Limited Liability Partnership |
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|
Term
| A business ownership structure that offers limited personal liability for business obligations and a choice of how business will be taxed; either as a separate entity or as a partnership-like structure in which profits are taxed on the owners' personal income tax returns. |
|
Definition
| Limited Liability Company (LLC) |
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|
Term
| A contract under which an insurance company agrees to pay money to a designated beneficiary upon the death of the policyholder. In exchange, the policy holder pays a regular scheduled fee, known as the insurance premium. |
|
Definition
|
|
Term
| The portion of the insurance policy that describes conditions that must exist for coverage to apply and usually states the obligations of the policyholder in the event of a claim |
|
Definition
|
|
Term
| The portion of the insurance policy that usually begins "this policy does not apply to …" |
|
Definition
|
|
Term
| Refers to the maximum amount the insurance carrier will pay for multiple claims made under a particular policy. |
|
Definition
|
|
Term
| The portion of the insurance policy that describes the coverage purchased by the policy holder. |
|
Definition
|
|
Term
| A work sheet showing the balances in each account: used to provide the equality of debts and credits. |
|
Definition
|
|
Term
| The information within the accounting system that reveals the effects of a transaction. |
|
Definition
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|
Term
| An IRS form sent to certain vendors whom you have paid more than $600 during the year. |
|
Definition
|
|
Term
| The IRS form filed quarterly to report income tax, FICA, and Medicare withholdings. |
|
Definition
|
|
Term
| Description and tagging of files or boxes for input into a tracking system. |
|
Definition
|
|
Term
| Shredding of paper or media by a bonded company. |
|
Definition
|
|
Term
| Storage of items, i.e., DLT, 8mm, 4mm, or other tapes, in an environmentally controlled vault. |
|
Definition
|
|
Term
| A transfer of property rights from one person to another |
|
Definition
|
|
Term
| The tenant's duties to care for their rented space (or for the entire building, if you are the sole tenant). |
|
Definition
|
|
Term
| A rental agreement or lease between a tenant and a new tenant (called a sublessee) who will either share the rental or take over from the first tenant. The sublessee pays rent directly to the tenant. The tenant is still completely responsible to the landlord for the rent and for any damage, including that caused by the sublessee. |
|
Definition
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|
Term
| An assemblage of person or objects gathered or located together. |
|
Definition
|
|
Term
| A group organized to work together. |
|
Definition
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|
Term
| Teamwork techniques used to expand the thinking process by encouraging contributions of new ideas, no matter how wild and wacky. |
|
Definition
|
|
Term
| The assessment of the comparative benefit to be gained from making each suggested risk-management change measured against the actual and potential costs of making the changes. |
|
Definition
|
|
Term
| The establishment of firm-wide or practice-wide policies, procedures, or systems designed to minimize risk within the firm or practice. |
|
Definition
|
|
Term
| A private network that uses Internet protocols, network connectivity, and possibly the public telecommunication system to securely share part of an organization's information or operations with suppliers, vendors partners, customers or other businesses |
|
Definition
|
|
Term
| A private computer network that uses Internet protocols, network connectivity to securely share part on an organization's information or operations with it employees. |
|
Definition
|
|
Term
| The global address of documents and other resources on the World Wide Web. |
|
Definition
| URL (Uniform Resource Locator) |
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|
Term
| An external bus standard that supports data transfer rates of 12 Mbps. It can be used to connect up to 127 peripheral devices, such as mice, modems, and keyboards. |
|
Definition
| USB (Universal Serial Device) |
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|
Term
| A program or piece of code that is loaded onto your computer without your knowledge and runs against your wishes. |
|
Definition
|
|
Term
| A private network that is constructed by using public wires to connect nodes. |
|
Definition
| VPN (virtual Private Network) |
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|
Term
| A secure specification that allows users to access information instantly via handheld wireless devices such as mobile phones, two-way radios, smart phones and communicators. |
|
Definition
| WAP (Wireless Application Protocol) |
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|
Term
| The computers are farther apart and are connected by communication lines or radio waves. |
|
Definition
| Wide-Area networks (WANs) |
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|
Term
| A translation of data into a secret code. Requires a key to read the data. |
|
Definition
|
|
Term
| An internet service that translates domain names into IP addresses. |
|
Definition
| DNS (Domain Name Service) |
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|
Term
| The process of decoding data that has been encrypted into a secret format. Required a secret key or password. |
|
Definition
|
|
Term
| A collection of information organized in such a way that a computer program can quickly select desired pieces of data. It is essentially an electronic filing system. |
|
Definition
|
|
Term
| A standardized query language for requesting information from a database. |
|
Definition
| SQL (Structured Query Language) |
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|
Term
| A masked used to determine what subnet an IP address belongs to. |
|
Definition
|
|
Term
| The two components of an IP Address. |
|
Definition
| Network Address and the Host Address |
|
|
Term
| Internal Storage areas in the computer. |
|
Definition
|
|
Term
| The term "memory" identifies data storage usually In this form. |
|
Definition
|
|
Term
| The term "storage" identifies memory that exists in this form. |
|
Definition
|
|
Term
| A standard database access method developed by the SQL Access group, with the goal to make it possible to access any data from any application, regardless of which database management system is handling the data. |
|
Definition
| ODBC (Open Database Connectivity) |
|
|
Term
| A function of a proxy server that caches retrieved Web pages on the server's hard disk so that the page can be quickly retrieved by the same or a different user the next time that page is requested. |
|
Definition
| Proxy Cache / Web Proxy Cache |
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|
Term
| A server that sits between a client application, such as a web browser, and a real servers. It intercepts all requests to the real servers to see if it can fulfill the requests itself. If not, it forwards the request to the real servers. |
|
Definition
|
|
Term
| A computer or device on a network that manages network resources. |
|
Definition
|
|
Term
| A computer network that spans a relatively small area. |
|
Definition
|
|
Term
| A group of two or more computer systems linked together. |
|
Definition
|
|
Term
| A program interface that takes advantage of the computer's graphics capabilities to make the program easier to use. |
|
Definition
| Graphical User Interface (GUI) |
|
|
Term
| A magnetic disk on which you can store computer data. Holds larger amounts of data and is faster. |
|
Definition
|
|
Term
| A category of disk drives that employ two or more drives in combination for fault tolerance and performance. |
|
Definition
| Redundant Array of Independent Disks (RAID) |
|
|
Term
| Electronic equipment and devices designed to fit industry-standard-sized computer racks and cabinets. A standard 1.75 inch unit. |
|
Definition
|
|
Term
| A term used to refer to any off-site office that connects to the organization's WLAN or LAN externally. |
|
Definition
| ROBO (Remote office Branch Office) |
|
|
Term
| The brains of the computer where most calculations take place. In terms of computing power, this is the most important element. |
|
Definition
| CPU (Central Processing Unit) |
|
|
Term
| A collection of words made up of any number of characters and also contains blank spaces, commonly used for authentication in security programs and cryptographic systems. |
|
Definition
|
|
Term
| The most important program that runs on a computer. Every general purpose computer must have this program to run other programs. |
|
Definition
|
|
Term
| A data storage device using integrated circuit assemblies as memory to store data persistently. Often found in laptops but now being used in desktop computers as well. |
|
Definition
| Solid-state Drive or Solid-state Disk (SSD) |
|
|
Term
| Payments received for services which have not yet been performed. |
|
Definition
|
|
Term
| A benefit plan maintained by an employer for the benefit of the employees under which each participant has the opportunity to select benefits they desire. Certain minimum choices and nondiscriminatory rules apply. |
|
Definition
|
|
Term
| Compensation arrangement, generally in writing, used by employers in addition to salary or wages. Some plans such as group term life insurance, medical insurance and qualified retirement plans are treated favorably under the tax law. |
|
Definition
|
|
Term
| A promise to pay participant specified benefits that are determinable and based on such factors as age, years of service, and compensation. |
|
Definition
|
|
Term
| Residual interest in the assets of an entity that remains after deducting its liabilities. Also the amount of business' total assets less total Liabilities. Also, the third section of a balance sheet, the first two being assets and liabilities. |
|
Definition
|
|
Term
| Point at which certain benefits available to an employee are no longer contingent on the employee continuing to work for the employers. |
|
Definition
|
|
Term
| Distribution of earnings to owners of a CORPORATION in cash, other ASSETS of the corporation, or the corporation's Capital Stock. |
|
Definition
|
|
Term
| Account considered to be an offset to another account. Generally established to reduce the other account to amounts that can be realized or collected. |
|
Definition
|
|
Term
| Combined financial statement of a parent company and one or more of its subsidiaries as on economic unit. |
|
Definition
| Consolidated Financial Statement |
|
|
Term
| Change in (1) an accounting principle; (2) an accounting estimate; or (3) the reporting entity that necessitates DISCLOSURE and explanation in published financial reports. |
|
Definition
|
|
Term
| After a taxpayer's basis in the property is determined, it must be adjusted upward to include any additions of capital to the property and reduced by any returns of capital to the taxpayer. Additions might include improvements to the property and subcontractors may include depreciation or depletion. A taxpayer's adjusted basis in property is deducted from the amount realized to find the gain or loss on sale or disposition |
|
Definition
|
|
Term
| Employee benefit plan whereby an employer establishes an account for each participating employee and each participant elects to deposit a portion of his or her salary in the account. The mount deposited is not subject to income tax. This is the most common type of salary reduction plan. |
|
Definition
|
|
Term
| Magnitude of an omission or misstatements of ACCOUNTING information that, in the light of surrounding circumstances, makes it probable that the judgment of a reasonable person relying on the information would change or be influenced. |
|
Definition
|
|
Term
| Expression of an opinion in an auditor's report which states that financial statements do not fairly present the financial position, results of operations and cash flows in conformity with generally accepted accounting principles (GAAP). |
|
Definition
|
|
Term
| Tax imposed to back up the regular income tax imposed on corporation and individuals to assure that taxpayers with economically measured income exceeding certain thresholds pay at least some income tax. |
|
Definition
| Alternative Minimum Tax 9AMT) |
|
|
Term
| Financial plan that serves as an estimate of future costs, revenues or both. |
|
Definition
|
|
Term
| Portion of the total gain recognized on the sale or exchange of a non-inventory asset which is not taxed as ordinary income. |
|
Definition
|
|
Term
| Provision of tax law that allows current losses or certain tax credits to be utilized in the tax returns of future periods. |
|
Definition
|
|
Term
| Financial statement comprising the accounts of two or more entities. |
|
Definition
| Combined Financial Statement |
|
|
Term
| Financial statement presentation in which the current amounts and the corresponding amounts for previous periods or dates are shown. |
|
Definition
| Comparative Financial Statement |
|
|
Term
| Audit performed within an entity by its staff rather than an independent certified public accountant. |
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Definition
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Term
| Conveyance of land, buildings, equipment or other ASSETS from one person (lessor) to another (lessee) for a specific period of time for monetary or other consideration, usually in the form of rent. |
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Definition
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Term
| The beginning point for the determination of income, including income from whatever sourced derived. |
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Definition
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Term
| A U.S. taxpayer that pays or accrues income tax to a foreign country may elect to credit or deduct these taxes in a determinable U.S. Dollar amount. This is usually done on the annual individual tax return and there is a specific form provided for this. |
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Definition
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Term
| Collection of all ASSET, LIABILITY, owners EQUITY, REVENUE, and expense accounts. |
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Definition
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Term
| Comparison of two numbers to demonstrate the basis for the difference between them. |
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Definition
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Term
| A corporation which, under the Internal Revenue Code, is generally not subject to federal income taxes. Instead, taxable income of the corporation is passed through to its stockholders in a manner similar to that of a partnership. |
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Definition
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Term
| Cost incurred to acquire economically useful goods or services that are expected to be consumed in the revenue-earning process within the operation cycle. |
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Definition
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Term
| Retirement plan offered by an employer for the benefit of an employee, usually a retirement, through a trustee who controls plan assets. |
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Definition
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Term
| Income reported on a tax basis for which no cash or financial benefit is realized. |
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Definition
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Term
| Partnership in which one or more partners, but not all, have limited liability to creditors of the partnership. |
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Definition
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Term
| BUSINESS COMBINATION that occurs when one entity directly acquires the ASSETS and LIABILITIES of one or more entities an no new corporation or entity is formed. |
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Definition
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Term
| A deviation of actual from a standard, goal, or expectation strongly emphasized in applying budgetary and standard cost approaches |
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Definition
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Term
| The process of developing a periodic budget on the assumption that the enterprise is initiating operations at the beginning of the budget period; thus total budget must be developed rather than an increment-over-last-period type budget |
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Definition
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Term
| The excess of current assets over liabilities. |
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Definition
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Term
| The determination of whether a test yields desired results with the necessary elements of accuracy, precision, reliability, and relevance. |
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Definition
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Term
| A cost that increases as the volume of activity increases and decreases as the volume of activity decreases. |
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Definition
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Term
| Generally called the debt ratio; measures the percentage of total funds provided by creditors. |
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Definition
| Total Debt to Total Assets |
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Term
| The time period over which the use of an asset is economically justified. It is normally expressed as the period of time that revenue from the productivity of an asset exceed the cost of that productivity. |
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Definition
| Economic Life (typically shorter than physical life and frequently shorter than useful life) |
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Term
| A budget that adds a time period in the future as the time period just ended is dropped. |
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Definition
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Term
| Any pattern of depreciation that systematically writes off depreciable costs so that progressively smaller amounts are allocated each year. |
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Definition
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Term
| Probable future economic benefits obtained or controlled by a particular entity as result of past transaction or events. |
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Definition
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Term
| An increase in value due to physical changes, aging, or other factors. |
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Definition
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Term
| An estimate of the economic value (usually reflecting the expected market value) of a resource, liability, equity, or entity made by an expert after appropriate physical examination comparative pricing and engineering review. |
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Definition
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Term
| The systematic examination by analyses, confirmation, and tests of accounting records to conform with a high degree of confidence that the records adequately reflect economic status and operations. It may be performed by internal staff or external people. |
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Definition
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Term
| The statement of financial position that discloses the assets, liabilities, and owners' equity of an entity as of one particular date. |
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Definition
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Term
| (1) The amount invested in an entity by its owners. (2) The net assets: total assets less liabilities. |
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Definition
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Term
| A measure of variation of actual expenses, revenues, assets, and liabilities from budgeted amounts, normally classified by individual responsibility for the variation. |
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Definition
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Term
| A lease that transfers substantially all the benefits and risks inherent in the ownership of the property to the lessee, who accounts for the lease as an acquisition of an asset and the incurrence of a liability. The lessor accounts for such a lease as a sale or financing arrangement. |
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Definition
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Term
| A period-by-period statement of cash on hand at the start of a budget period; expected cash disbursements classified by function, responsibility, and form; and the resulting cash balance at the end of the budget period. |
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Definition
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|
Term
| Continued uniformity, during a period or from one period to another, in methods of accounting, mainly in valuation vases and methods of accrual, as reflected in the financial statements of the entity. |
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Definition
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Term
| The amount originally paid for an asset, unadjusted for subsequent change in value. |
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Definition
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Term
| The cost incurred or amount earned for the use of borrowed capital. |
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Definition
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Term
| The plan of organization and all the coordinate methods and measures adopted within a business to safeguard its assets, check the accuracy and reliability of its accounting data, promote operational efficiency, and encourage adherence to prescribed managerial policies. |
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Definition
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Term
| Outflows or other using up of assets or incurrences of liabilities (or a combination of both) during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity's ongoing major or central operation. |
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Definition
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Term
| The exchange price that would prevail for a good or service traded in an active market consisting of a large number of well-informed buyers and sellers. |
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Definition
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Term
| The body of accounting rules, methods, and procedures that is sanctioned by the accounting profession, either by convention or by authoritative literature, as a guide to preparing of financial statement. |
|
Definition
| Generally Accepted Accounting Procedures (GAAP) |
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Term
| Claims of an entity for money, other goods, or services. |
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Definition
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Term
| The cost required to replace the service capacity of an existing asset. |
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Definition
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Term
| The net cash inflow expected from the sale of resources no longer useful to the firm. |
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Definition
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|
Term
| The amount that is paid for the right to receive payment in the future, assuming that the rate of interest for ventures of similar risk is known and that payment is to be received at specific dates. |
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Definition
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Term
| The theory and methods of collecting, classifying, and analyzing, and interpreting quantitative data. |
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Definition
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Term
| A measure calculated from a sample. |
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Definition
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Term
|
Definition
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Term
| The costs which cannot, as a practical matter, be assigned to a firm's objectives in a direct fashion. |
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Definition
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|
Term
| The concept of income determination that leads to recognizing related expenses and revenues in the same accounting period. |
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Definition
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Term
| A schedule of the various production, administration, and distribution expenses, classified by the nature of the expense, of an organizational unit or subunit required to obtain unit objectives during a period. |
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Definition
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Term
| Repetitive expenditures for material, labor, and other direct and indirect costs necessary for the performance of regular activities. |
|
Definition
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Term
| A lease in which the risks or rewards of ownership remain with the lessor. The related rental payments are customarily recorded as an expense by the lessee and as rental income by the owner lessor during the time of use. |
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Definition
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|
Term
| Occurs when the difference among individuals with different levels of experience and performance become small. |
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Definition
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|
Term
| Plans that combine all sick leave, vacation time, and holidays into a total number of hours or days that employees can take off with pay. |
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Definition
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|
Term
| The shared values and beliefs in an organization. |
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Definition
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Term
| The degree to which employees believe in and accept organizational goals and desire to remain with the organization. |
|
Definition
| Organizational Commitment |
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Term
| Practice of allowing relatives to work for the same employer. |
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Definition
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|
Term
| Performance appraisal method that specifies the performance goals that an individual manager mutually identify. |
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Definition
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|
Term
| Grouping jobs into pay grades based on similar market survey amounts. |
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Definition
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|
Term
| Graph line that shows the relationship between job value as determined by job evaluation points and job value as determined by pay survey rates. |
|
Definition
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|
Term
| Use of survey data to identify the relative value of jobs based on what other employers pay for similar jobs. |
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Definition
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|
Term
| Percent of applicants hired divided by the total number of applicants. |
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Definition
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|
Term
| A subset of the labor force population that is available for selection using a particular recruiting approach. |
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Definition
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|
Term
| Pay level divided by the midpoint of the pay range. |
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Definition
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|
Term
| Tests that measure an individual's thinking, memory, reasoning, verbal, and mathematical abilities. |
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Definition
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|
Term
| Occurs when a rater gives all employees a score within a narrow range in the middle of the scale. |
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Definition
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|
Term
| Practice of using fewer pay grades with much broader ranges than in traditional compensation systems. |
|
Definition
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|
Term
| Measured when an employer tests current employees and correlates the scores with their performance ratings. |
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Definition
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|
Term
| Validity measured by a procedure that uses a test as the predictor of how well and individual will perform on the job. |
|
Definition
| Criterion-Related Validity |
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Term
| Tendency to rate people relative to others rather than against performance standards. |
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Definition
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|
Term
| Validity measured by a logical, non-statistical method to identify the KSAs and other characteristics necessary to perform a job. |
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Definition
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|
Term
| Sexual harassment in which an individual's work performance or psychological well-being is unreasonably affected by intimidating or offense working conditions. |
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Definition
| Hostile Environment / Hostile Work Environment |
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Term
| Occurs when an employer becomes aware that an employee may be unfit for employment, continues to employ the person, and the person injures someone. |
|
Definition
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|
Term
| Employees who must be paid overtime under the Fair Labor Standards Act. |
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Definition
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|
Term
| Discrimination exists if the selection rate for a protected group is less than 80% of the selection rate for the majority group or less than 80% of the majority group's representation in the relevant labor market. |
|
Definition
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|
Term
| Occurs when an employer fails to check an employee's background and the employee injures someone. |
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Definition
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|
Term
| Dispute resolution process by which a third party helps negotiators reach a settlement. |
|
Definition
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|
Term
| Employees to whom employers are not required to pay overtime under the Fair Labor Standards Act. |
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Definition
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|
Term
| Letter issued by EEOC that notifies a complainant that he or she has 90 days to file a personal suit in federal court. |
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Definition
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|
Term
| Punitive actions taken by employers against individuals who exercise their legal rights. |
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Definition
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|
Term
| Individuals within a group identified for protection under equal employment laws and regulations. |
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Definition
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|
Term
| Individuals who report real or perceived wrongs committed by their employers. |
|
Definition
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|
Term
| Significant difficulty or expense imposed on an employer in making an accommodation for individuals with disabilities. |
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Definition
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|
Term
| Occurs when members of a protected class are treated differently from others. |
|
Definition
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|
Term
| Incumbent who is paid above the range set for the job. |
|
Definition
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|
Term
| Process of identifying a longer-term plan for the orderly replacement of key employees. |
|
Definition
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|
Term
| Occurs when members of a protected class are substantially underrepresented as a result of employment decisions that work to their disadvantage. |
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Definition
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|
Term
| Important elements in a given job. |
|
Definition
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|
Term
| Systematic way of gathering and analyzing information about the content, context, and human requirement of jobs. |
|
Definition
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|
Term
| External supply pool from which organizations attract employees |
|
Definition
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|
Term
| All individuals that are available for selection if all possible recruitment strategies are used. |
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Definition
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|
Term
| The way an organization identifies and leverages knowledge in order to be competitive. |
|
Definition
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|
Term
| Occurs when rating all employees falls at the high end of the scale. |
|
Definition
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|
Term
| Interview that uses a set of standardized questions asked of all job applicants. |
|
Definition
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|
Term
| Approach in which employees gradually reduce their workloads and pay. |
|
Definition
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|
Term
| Occurs when rating of all employees fail at the low end of the scale. |
|
Definition
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|
Term
| Interview designed to create anxiety and put pressure on applicants to see how they respond. |
|
Definition
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|
Term
| Tests that measure a person's judgment in work settings. |
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Definition
| Situational Judgment Tests |
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Term
| Structured interview composed of questions about how applicants might handle specific job situations. |
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Definition
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|
Term
| Actions that are sexually directed, are unwanted, and subject the worker to adverse employment conditions or create a hostile work environment. |
|
Definition
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|
Term
| Citizen of one country who is working in a second county and employed by an organization headquartered in the first country. |
|
Definition
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|
Term
| Process of studying the environment of the organization to pinpoint opportunities and threats. |
|
Definition
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|
Term
| Indicators of what the job accomplishes and how performance is measured in key areas of the job description. |
|
Definition
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|
Term
| Process in which a trainer and the organizational client work together to determine what needs to be done to improve results. |
|
Definition
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|
Term
| Process of evaluating how well employees perform their jobs and then communicating that information to the employees. |
|
Definition
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|
Term
| Someone who has a physical or mental impairment that substantially limits life activities, who has a record of such impairment, or who is regarded as having such an impairment. |
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Definition
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|
Term
| Occurs when a rater scores and employee high on all job criteria because of performance in one area. |
|
Definition
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|
Term
| Benefits plans that allow employees to contribute pre-tax dollars to buy certain additional benefits. |
|
Definition
| Flexible Spending Accounts |
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|
Term
| Performance appraisal method in which ratings of employee's' performance are distributed along a bell-shaped curve. |
|
Definition
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|
Term
| Long-Term Debt divided by Stockholder's (Owners') Equity |
|
Definition
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|
Term
| Assumes that individuals who have worked another year are entitled to pay increases, with little regard for performance differences. |
|
Definition
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|
Term
| Common-law doctrine stating that employers have the right to hire, fire, demote, or promote whomever they choose, unless there is a law or contract to the contrary. |
|
Definition
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|
Term
| Formal document that an employer compiles annually for submission to enforcement agencies. |
|
Definition
| Affirmative Action Plan (AAP) |
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|
Term
| Perceived fairness between what a person does and what a person receives. |
|
Definition
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|
Term
| Interview in which applicants give specific examples of how they performed a certain task or handled a problem in the past. |
|
Definition
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|
Term
| Employers are urged to hire groups of people based on their race, age, gender, or national origin, to make up for historical discrimination. |
|
Definition
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|
Term
| Basic compensation that an employee receives, usually as a wage or a salary. |
|
Definition
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|
Term
| Identifies the number of protected class members available to work in the appropriate labor markets for given jobs. |
|
Definition
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|
Term
| Comparisons of the number of applicants at one stage of the recruiting process with number at the next stage. |
|
Definition
|
|
Term
| Compensation linked directly to individual, team or organizational performance. |
|
Definition
| Variable Pay / Variable Compensation |
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|
Term
| Identified the number of protected-class members employed in the organization and the types of jobs they hold. |
|
Definition
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|
Term
| Characteristic providing a legitimate reason why an employer can exclude persons on otherwise illegal bases of considerations. |
|
Definition
| Bona Fide Occupational Qualification (BFOQ) |
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|
Term
| Copying someone else's behavior. |
|
Definition
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|
Term
| Using information from the past and the present to identify expected future conditions. |
|
Definition
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|
Term
| The collective value of the capabilities, knowledge, skills, life experiences, and motivation of an organizational workforce. |
|
Definition
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|
Term
| Training that occurs through interactions and feedback among employees |
|
Definition
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|
Term
| The knowledge, skills, and abilities (KSAs) an individual needs to perform a job satisfactorily. |
|
Definition
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|
Term
| Scheduling arrangement in which two employees perform the work of one full-time employee. |
|
Definition
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|
Term
| Scale that allows the rater to mark an employee's performance on a continuum. |
|
Definition
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|
Term
| Formal, systematic means to identify the relative worth of jobs within and organization. |
|
Definition
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|
Term
| When a person is denied an opportunity because of preferences given to protected-class individuals who may be less qualified. |
|
Definition
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|
Term
| Paid time off the job to develop and rejuvenate oneself. |
|
Definition
|
|
Term
| Incumbent who is paid below the range set for the job. |
|
Definition
|
|
Term
| Occurs when a rater gives greater weight to recent events when appraising an individual's performance. |
|
Definition
|
|
Term
| Organizing tasks, duties, and responsibilities into a productive unit of work. |
|
Definition
|
|
Term
| Performance appraisal method in which all employees are listed from highest to lowest in performance. |
|
Definition
|
|
Term
| Sexual harassment in which employment outcomes are linked to the individual granting of sexual favors. |
|
Definition
|
|
Term
| identification of the tasks, duties, and responsibilities of a job. |
|
Definition
|
|
Term
| Compensation plan that attempts to be more comprehensive in providing base pay, incentives, benefits, and relocation expenses regardless of the country to which the employee is assigned. |
|
Definition
|
|
Term
| Process of choosing individuals with qualifications needed to fill jobs in an organization. |
|
Definition
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|
Term
| Percentage hired from a given group of candidates. |
|
Definition
|
|
Term
| Person's belief that he or she can successfully learn the training program content. |
|
Definition
|
|
Term
| Characteristic that a person must have to do a job successfully. |
|
Definition
|
|
Term
| Pension plan feature that allows employees to move their pension benefits from one employer to another. |
|
Definition
|
|
Term
| Measurable or visible indicators of a selection criterion. |
|
Definition
|
|
Term
| Occurs when a rater gives greater weight to information received first when appraising an individual's performance. |
|
Definition
|
|
Term
| Measure of the quantity and quality of work done, considering the cost of the resources used. |
|
Definition
|
|
Term
| Consistency with which a test measures an item. |
|
Definition
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|
Term
| Planning, training, and reassignment of global employees to their home countries. |
|
Definition
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|
Term
| Dividing the gross book value by the number of years in the useful life of an asset. |
|
Definition
| Straight-Line Depreciation. |
|
|
Term
| Net Income divided by Shareholder' Equity equals? |
|
Definition
|
|
Term
| The value of products and services sold. |
|
Definition
|
|
Term
| Revenue minus cost of goods sold . |
|
Definition
| Gross Profit (Gross Margin) |
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|
Term
| The recognition of an expenditure and its recording for accounting purposes in the time period that benefited from it. |
|
Definition
|
|
Term
| A short-term loan, usually from a commercial bank which the bank can require its repayment at any time and is usually secured by the company's accounts receivable and inventory. |
|
Definition
|
|
Term
| The ratio used to evaluate a company's ability to pay its bills on a regular week-to-week or month-to-month basis. |
|
Definition
|
|
Term
| A nominal or face value given to a bond or share of stock. |
|
Definition
|
|
Term
| The overall amount of cash generated by the company that is available to the company to manage the business. |
|
Definition
|
|
Term
| The present value of the cash inflows from an investment minus present value of the cash outflows. |
|
Definition
|
|
Term
| A depreciation methodology that shortens the depreciable lives of equipment but provides less than full straight-line deduction for the first year. |
|
Definition
| Accelerated Cost Recovery System (ACRS) |
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|
Term
| The amounts that the company owes to others for products and services it has purchased and amounts that it has borrowed and therefore must repay. |
|
Definition
|
|
Term
| Assets owned by a company and used in the operation of its business that are expected to last more than one year. |
|
Definition
|
|
Term
| Bottom line profit, recorded after all costs, expenses, and taxes have been subtracted from revenue. |
|
Definition
|
|
Term
| Selling accounts receivable to a third party. |
|
Definition
|
|
Term
| A ratio that measures the overall performance of a company. It reflects profitability, efficiency, and the effective use of debt. |
|
Definition
|
|
Term
| The difference between the gross book value and accumulated depreciation amounts. |
|
Definition
|
|
Term
| The measure of the profitability of the company relative to the total amount of assets the owners have invested in the business. |
|
Definition
| Return on Investment (ROI) |
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|
Term
| Borrowed funds that are not due till more than one year from the date of the balance sheet. |
|
Definition
|
|
Term
| An accounting term that described the original purchase cost of fixed assets less the accumulated depreciation charged against those assets. |
|
Definition
|
|
Term
| Assets pledged as security for a loan. If payments are not made, the creditor can take possession of the assets and sell them to satisfy the debt. |
|
Definition
|
|
Term
| Shares of ownership in a corporation. |
|
Definition
|
|
Term
| Assets that cannot be seen or touched but may have considerable value. |
|
Definition
|
|
Term
| The accounting methodology used by essentially all public corporations and almost all private companies. Revenues are recorded when the money is earned and expenses are recorded with incurred. |
|
Definition
| Accrual Accounting / Accrual Basis |
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|
Term
| Describes in summary form how the company generated the cash flows it needed to finance its various financial opportunities and responsibilities during the past year. |
|
Definition
|
|
Term
| An analytical process of examining past events and understanding the business circumstances, both internal and external, that caused those events to occur. |
|
Definition
|
|
Term
| All monies that the company owes that must be paid within one year from the date of the balance sheet. |
|
Definition
|
|
Term
| The sum of cash, marketable securities, accounts receivable and inventory, expected to or capable of becoming cash within a one-year period. |
|
Definition
|
|
Term
| Revenue is recorded when the cash is received and expenses are recorded when the bills are actually paid. |
|
Definition
|
|
Term
| Usually synonymous with fixed or tangible assets including land, buildings, machinery and equipment, furniture and fixtures, and vehicles. |
|
Definition
|
|
Term
| A record that shows how much a company owes suppliers for the purchases of supplies or services on credit. |
|
Definition
|
|
Term
| A financial statement that incorporates information other than accounting information. |
|
Definition
|
|
Term
| The portion of the budget process in which management focuses specifically on the companny's fixed asset needs. |
|
Definition
|
|
Term
| A record that shows how much is owed to a company by customers who have purchased supplies or services on credit. |
|
Definition
|
|
Term
| Fixed assets owned by a company and used in the operation of its business that are expected to last more than one year. |
|
Definition
|
|
Term
| Allocation of fixed assets over their useful life in the form of a non-cash expense on the income statement. |
|
Definition
|
|
Term
| This is a measure of risk for both the company and its current and future creditors. It is calculated as Long-Term Debt divided by Stockholders' Equity. |
|
Definition
|
|
Term
| Provides management with the ability to evaluate actual results against what was expected when the budget was prepared. |
|
Definition
|
|
Term
| A measure of corporate liquidity. Calculated as Current Assets ÷ Current Liabilities = ? |
|
Definition
|
|
Term
| A serious financial condition resulting from a company's inability to pay its bills. It often results in bankruptcy. |
|
Definition
|
|
Term
| Arranging for a loan in advance of the time funds are required. |
|
Definition
|
|
Term
| A company's ability to meet its current obligations. |
|
Definition
|
|
Term
| The disbursement of cash or a commitment to disburse cash. |
|
Definition
|
|
Term
| An attachment of an asset, often used as collateral of a loan. |
|
Definition
|
|
Term
| Costs that a company incurs that are not directly sensitive to volume changes. |
|
Definition
|
|
Term
| A payment mechanism. Customers send their payments to a post office box located near the company's bank. The bank collects the payments and deposits them in the company's checking account. The company then is immediately notified of the payment and deposit. |
|
Definition
|
|
Term
| A section of the annual report that provides greater detail than the financial statements themselves. |
|
Definition
|
|
Term
| Cash and near-cash assets, including short-term marketable securities and accounts receivable. |
|
Definition
|
|
Term
| The cumulative amount of the company's net income that the owners have reinvested in the business during the entire corporation history. It is part of the stockholders' equity on the balance sheet. |
|
Definition
|
|
Term
| A ratio that assists management in assessing the company's liquidity position. It is calculated as Cash + Marketable Securities + Accounts Receivable ÷ Accounts Payable + Bank Debt = ? |
|
Definition
| Quick Ratio / Acid Test Ratio |
|
|
Term
| For investments, the accounting mechanism for apportioning an investment in an intangible assets over the years of its productive (useful) life. |
|
Definition
|
|
Term
| The total amount of depreciation expenses included on the income statement from the time the fixed asset(s) were purchased. Intangibles include: copyrights, licenses, trademarks, and good will. |
|
Definition
|
|
Term
| A global connection of computer networks. |
|
Definition
|
|
Term
| Date inserted into a policy which limits the coverage of prior acts in which case the firm is only covered after the specified date. |
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Definition
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Term
| Work that is performed to meet an objective within specific cost and time restraints. |
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Definition
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Term
| An individual or group of individuals that initiate and maintain improved expectations and competence of the group to solve problems or attain goals. |
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Definition
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Term
| The art of finding satisfactory ways for parties with conflicting views to reach an agreement. It is the process of submitting and considering offers until a satisfactory offer is made and accepted. |
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Definition
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Term
| A loose, "leave them alone or let them handle it" approach. |
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Definition
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Term
| The standard that facilitates the routing of traffic from on computer network to another. |
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Definition
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Term
| One type of quantitative job evaluation method in which the characteristics of a job valued by an organization are weighed according to their importance to the organization |
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Definition
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Term
| The computer and its physical parts. |
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Definition
|
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Term
| Allows data to be recreated in the event that a computer's hard drive fails. |
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Definition
| Fault Tolerant Hard Drive |
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Term
| Equals approximately one billiion bytes. |
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Definition
|
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Term
| The smallest unit of measurement of storage space in a computer. |
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Definition
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Term
| The part of the lease that specifies what the landlord is to provide in terms of construction for the tenant before the tenant inhabits the space. |
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Definition
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Term
| An in-depth examination of the firm in which specific issues are identified. |
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Definition
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Term
| A firm charges a specific amount for each legal task performed, regardless of how much time it takes to perform the task. |
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Definition
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Term
| The analysis of work procedures and activities to improve productivity, relationships among members, social competence of members, encourage proactivity and adaptability to conditions, demands and stresses. |
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Definition
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Term
| Useable space plus a prorated share of common space. |
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Definition
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Term
| The tenant's prorated share of common space. Can vary enourmously from building to building. |
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Definition
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Term
| The examination of specific tasks that are required for a job. |
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Definition
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Term
| Occurs when individuals in protected groups are intentionally treated differently because of race, color, sex, religion, national origin, age, or disability. |
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Definition
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Term
| software that sits between a firm's internal network and the outside Internet and limits access into and out of the firm's network. |
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Definition
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Term
| The theory that employees will rise or advance to their highest levels of competence and then will be promoted and will remian at levels where they are incompetent. |
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Definition
|
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Term
| Equals approximatley one million bytes |
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Definition
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Term
| An assessment of Strength, Weakness, Opportunities, Treats . |
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Definition
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Term
| Motivating employees by recognizing a job well-done. It is most effective when the behavior is recognized immediately and feedback is communicated directly to the person being recognized. |
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Definition
|
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Term
| A total paradigm shift, a shift in the belief system. |
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Definition
| Organizational Transformation |
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Term
| A specific amount of time covered by a financial statement. |
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Definition
|
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Term
| The means used by organizations to motivate, guide, improve, and acknowledge the work carried out by their emplyees. |
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Definition
| Performance Management systems |
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Term
| A measurement of an employee's work against established standards. |
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Definition
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Term
| A planning process that focuses on addressing broad strategic issues regarding the not-distant future. Involves determining how to take an organization from where it is to where it wants to be. |
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Definition
|
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Term
| Amount of net income available for distribution to active partners. |
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Definition
|
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Term
| The space that can be occupied by offices furniture and equipment. It does not include stairwells, halls, lobbies, common rest rooms and other common areas. |
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Definition
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Term
| A negative effect that occurs when an employment standard has been equally applied, but has an unequal effect, even if unintentional. |
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Definition
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Term
| Billing where the client and firm decide on a budget and/or expected outcome for the case and then established incentives based on exceeding either. |
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Definition
|
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Term
| A worker who is not paid as an employee based on lack of permanency, source of control and services offered to more than one employee. |
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Definition
|
|
Term
| The degree to which a selection procedure measures a job-related trait such as intelligence. |
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Definition
|
|
Term
| Has a particular style allowing the group to take part in decisions. |
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Definition
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Term
| Authoritarian leader who dominates decion-making. |
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Definition
|
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Term
| Extends professional liability insurance into the future, cocvering the work done in the past for which claims have not arisen. |
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Definition
|
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Term
| Equals appoximatley 1000 bytes |
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Definition
|
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Term
| A point-factor method developed to evaluate executive, managerial, and professional positions. It is based on three factors: know-how, problem-solving, and accountability. |
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Definition
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Term
| A situation where the employee is perceived as not being able to do anything right even though he or she may perform poorly only in one or two areas. |
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Definition
|
|
Term
| Command that informs a browser it will be locating and displaying a web page. |
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Definition
| Hypertext Transfer Protocol |
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Term
| The development of 2 or more plans, each of which is based on a different scenario that could occur. It is most appropriate when circumstances are particularly uncertain. |
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Definition
|
|
Term
| Using proper negotiation and conflict management techniquest to avoid outright litigation. |
|
Definition
|
|
Term
| A variation of BARS that involves observing behaviors and counting the number of times they are displayed. |
|
Definition
| Behavioral Observation Scales (BOS) |
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Term
| Also known as equity, it is the amount remaining after liabilities are deducted from assets. It is the amount the owners can claim on the assets; the owners' interest in the business. |
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Definition
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|
Term
| Insurance that typically covers all the risks, including theft, unless specifically excluded from the policy. |
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Definition
|
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Term
| A book of original entry to record accounting transactions. Every business transaction that is monetary is recorded. |
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Definition
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Term
| The right to appeal disciplinary actions. Also extends to privacy rights over such issues as substance abuse and drug testing, searches, personnel files, and off-the-job behaviors. |
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Definition
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|
Term
| The rules that computers on a network use to initiate and break connections. |
|
Definition
| Transport Control Protocol (TCP) |
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Term
| Insures against employment-related claims which incudes discrimination claims, sexual harassment claims, and claims covered under employment laws. |
|
Definition
| Employment Practices Liability Insurance |
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Term
| The discipline concerned with what is morally good and bad, right and wrong. The term is also applied to any system or theory of moral values or principles. |
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Definition
|
|
Term
| Computer software used to create worksheets consisting of columns and rows. |
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Definition
|
|
Term
| Used to connect two or more computer systems to store hardware programs and data internally |
|
Definition
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|
Term
| Eight bits and the required amount of computer storage needed for one keyboard stroke. |
|
Definition
|
|
Term
| The characteristics of a job valued by an organization. |
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Definition
|
|
Term
| A danger or hazard of loss or injury. |
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Definition
|
|
Term
| The screening method implemented to protect a client from a conflict of interest and their confidences and secrets. |
|
Definition
| Ethical Wall (Chinese Wall) |
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Term
| Any circumstance, act, error, or omission which might reasonably be expected to give rise to a claim |
|
Definition
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|
Term
| An exception to the at-will employment; the unjust or unfair termination of an employee based on breach of a written or oral implied contract or a violation of public policy. |
|
Definition
| Wrongful Discharge / Wrongful Termination |
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Term
| A statute which prohibits (with the exception of exempt employees and positions) employers from having policies or practices that call for mandatory retirement of employees under the age of 70. |
|
Definition
| Mandatory Retirement Age Law of 1978 |
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Term
| A neutral third party that helps individuals or groups in conflict resolve disputes by mediating, coaching, and facilitating communication between the parties and recommending an appropriate resolution. |
|
Definition
|
|
Term
| A fixed negotiated payment that is not typically included in an employee's annual salary; often times given in lieu of pay increases. |
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Definition
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|
Term
| A policy statement that equal consideration for a job is applicable to all individuals and that the employer does not discriminate based on race, color, religion, marital status, national origin, disability, or sex. |
|
Definition
| Equal Employment Opportunity (EEO) |
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Term
| An act signed into law by President Bush on Dec. 10, 2004. The act requires that employers extend the period for continuation of health care coverage and requires employers to provide covered employees with the appropriate notice of their rights, benefits and responsibilities under the Uniformed Services Employment and Reemployment Rights Act (USERRA). |
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Definition
| Veterans Benefit Improvement Act of 2004 |
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Term
| An illness, injury, impairment or physical or mental condition that involves inpatient care in a hospital, hospice, or residential medical care facility; or continuing treatment by a health care provider. |
|
Definition
|
|
Term
| A contractual agreement between an employer and an external third-party provider whereby the employer transfers responsibility and management for certain HR, benefit, or training-related functions or services to the external provider. |
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Definition
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|
Term
| Signed into law on October 13, 1994, to strengthen a pre-existing law, this law is intended to minimize the disadvantages to an individual that can occur when that person needs to be absent from his or her civilian employment in order to server in the uniformed services. |
|
Definition
| The Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA) |
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Term
| Addresses the use of interviewing, testing, training, and other employee selection tools and their impact on discrimination based on race, color, religion, sex or national origin. |
|
Definition
| Uniform Guidelines on Employee Selection Procedures of 1978 |
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Term
| A third-party organization that delivers software applications an related services over the internet allowing an organization to outsource some or all of its information technology needs. |
|
Definition
| Application Service Provider |
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|
Term
| An individual who has been given the privilege, according to immigration laws, of permanently living as an immigrant in the United States. The privilege is accompanied with the issue of a green card. |
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Definition
|
|
Term
| A federal statute requiring federal agencies to ensure that electronic and information technology systems are accessible to individuals with disabilities when their jobs require the use of electronic or information technology systems. |
|
Definition
| Rehabilitation Act of 1998 |
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|
Term
| A set of guidelines and procedures to be used by an organization for the recovery of data lost due to sever forces of nature, such as earthquakes, tornadoes, floods, hurricanes, or other events such as fires. |
|
Definition
|
|
Term
| A workforce comprised of permanent full-time, part-time and temporary employees as well as independent contractors. |
|
Definition
|
|
Term
| A salary differentiation system that bases compensation on an individual's education, experience, knowledge, skills, or specialized training. |
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Definition
|
|
Term
| States that some people have an inherent dislike for work and will avoid it whenever possible. These people need to be controlled and coerced by their managers to achieve production. |
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Definition
|
|
Term
| Discriminatory conduct or actions based on sex or pregnancy, as it relates to conditions of employment, benefits, pay, and opportunities for advancement. |
|
Definition
|
|
Term
| An act that covers public agencies and businesses engaged in interstate commerce or providing goods or services for commerce. Provides guidelines on employment status, child labor, minimum wage, overtime pay and record-keeping requirements. |
|
Definition
| Fair Labor Standards Act (FLSA) of 1938 |
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|
Term
| The systematic process of comparing and organization's products, services, and practices against those of competitor organizations or other industry leaders to determine what it is they do that allows them to achieve high levels of performance. |
|
Definition
|
|
Term
| A federal law that prohibits discrimination in virtually every employment circumstance on the basis of race, color, religion, gender,, pregnancy, or national origin. Applies to employers with 15 or more employees. |
|
Definition
| Title VII of the Civil Rights Act of 1964 |
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|
Term
| A work-based intervention program designed to identify and help employees in resolving personal problems that may be adversely affecting the employee's performance. |
|
Definition
| Employee Assistance Program |
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|
Term
| A person who does not meet the definition of a disabled individual in accordance with the Americans With Disability Act, but is regarded by his or her employer as having a mental or physical disability. |
|
Definition
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|
Term
| A law prohibiting discrimination against workers 40 and over in any employment-related decisions. Applies to most employers with 20 or more employees. |
|
Definition
| Age Discrimination In Employment Act (ADEA) of 1967 |
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|
Term
| A form of rating, in which the rater compares, one by one, the performance of each member of a group with the performance of every other member in the group. |
|
Definition
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|
Term
| The number of separations during a month, including both voluntary and involuntary terminations (excluding layoffs). Calculated as the number of separations in the month divided by the average number of employees on the payroll multiplied by 100. |
|
Definition
|
|
Term
| Associated with pay grades, the range sets the upper and lower compensation boundaries for jobs within the range. |
|
Definition
|
|
Term
| A compensation system whereby base pay increases are determined by individual performance. |
|
Definition
|
|
Term
| A variable pay strategy that pays employees based on their individual performance and contributions, rather than the value of the job they are performing. |
|
Definition
|
|
Term
| An appraisal process whereby an individual is rated on his or her performance by people who knows something about the individuals work. This can include direct reports, peers, managers, customers or clients. |
|
Definition
|
|
Term
| Assumes that people have a psychological need to work and want achievement and responsibility. A manager's role with these people is to help them achieve their potential. |
|
Definition
|
|
Term
| Prohibits discrimination against individuals based on sex or marital status in areas of employment, education, the provisions of goods, facilities and services, or in the management of premises. |
|
Definition
| Sex Discrimination Act of 1975 |
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|
Term
| A statistic used as a measurement of the dispersion or variation in a distribution, equal to the square root of the arithmetic mean of the squares of the deviations from the arithmetic mean. |
|
Definition
|
|
Term
| Work-related rewards that have a measurable monetary value, unlike intrinsic rewards, such as praise or satisfaction in a job well done. |
|
Definition
|
|
Term
| An law enacted to increase accountability of corporations to their shareholders in the wake of recent accounting scandals. Includes a Whistleblower protection provision. |
|
Definition
| The Sarbanes Oxley Act of 2002 |
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|
Term
| The design of the equipment, furniture, machinery or tools used in the workplace that prompts safety, efficiency and productivity and reduces discomfort and fatigue. |
|
Definition
|
|
Term
| A federal anti-discrimination law which prohibits private employers, state and local governments, employment agencies and labor unions from discriminating against qualified individuals with disabilities in job application procedures, hiring, firing, advancement, compensation, job training, and other terms, conditions and privileges of employment. |
|
Definition
| Americans With Disabilities Acts (ADA) of 1990 |
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|
Term
| An insurance policy providing business with coverage and protection against potential lawsuits from clients and customers. |
|
Definition
| Errors and Omissions Insurance |
|
|
Term
| An amendment to Title VII of the Civil Rights Act of 1964 prohibiting discrimination on the basis of pregnancy, childbirth or related medical conditions, requiring pregnancy or related conditions to be treated in the same manner as any other temporary disability. |
|
Definition
| Pregnancy Discrimination Act (PDA) of 1978 |
|
|
Term
| The difference in pay between female employees and male employees who are performing the same or comparable jobs. |
|
Definition
|
|
Term
| The average wage for a worker in a specified position or occupation, which is determined by adding together the total wages for all incumbents in a specific position or occupation and then dividing it by the total number of incumbents. |
|
Definition
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|
Term
| A law that allows employees who have met minimum service requirements (12 months employed by the company with 1,250 hours of service in the preceding 12 months) to take up to 12 weeks of unpaid leave per year for: 1) serious health conditions, 2) to care for a family members with a serious health condition, 3) the birth of a child, or 4) the placement of a child for adoption or foster care |
|
Definition
| Family and Medical Leave Act (FMLA) of 1993 |
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|
Term
| Occurs when a manager/supervisor or employer makes working conditions so unbearable or abusive that a reasonable person believes that resignation is the only appropriate action to take. |
|
Definition
|
|
Term
| An organization that enters into a join-employment relationship with an employer, by leasing employees to the employer, allowing the organization to share and manage many employer-related responsibilities and liabilities. |
|
Definition
| Professional Employment Organization (PEO) |
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|
Term
| A law that prohibits the employment of individuals who are not legally authorized to work in the united States or in an employment classification that they are not authorized to fill. Require employers to certify employment eligibility using an I-9 form. |
|
Definition
| Immigration Reform and Control Act (IRCA) of 1986 |
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|
Term
| A compensation system that recognizes employees for the depth, breadth and types of skills they obtain and apply in their work. Also named as skilled-based and knowledge-based pay. |
|
Definition
|
|
Term
| A tax free account that can be used by employees to pay for qualified medical expenses. Contributions do not have to be spent the year they are deposited. |
|
Definition
|
|
Term
| Under FMLA regulations, this is defined as a 12-month period measured backward from the date an employee first uses leave. |
|
Definition
|
|
Term
| A court order requiring an employer to withhold a certain percentage from an employee's pay in order to settle a debt with a creditor. |
|
Definition
|
|
Term
| A law setting forth standards that employers must comply with in order to provide working conditions that are safe and free from any health hazards for all employees. The law also requires employers to provide employees with protection against workplace hazards. |
|
Definition
| Occupational Safety and Health Act (OSHA) of 1970 |
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|
Term
| An employer's selection practices or policies that result in discriminatory or unfavorable treatment toward an individual who are members of a protected group. |
|
Definition
|
|
Term
| A structured system that satisfies internal and external customers and suppliers by integrating the business environment, continuous improvement and breakthroughs with the development, improvement and maintenance cycles. |
|
Definition
|
|
Term
| A systematic form of leadership focusing on change and innovation. According to Bernard Bass, it is a form of leadership occurring when leaders "broaden and elevate the interests of their employees, when they generate awareness and acceptance of the purposes and the mission of the group and when they stir their employees to look beyond their own self-interest for the good of the group." |
|
Definition
| Transformational Leadership |
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|
Term
| An amendment to the ADEA prohibiting all employers from age discrimination in employee benefit programs by either providing equal benefits for older and younger workers or by spending an equal amount on benefits for the group. |
|
Definition
| Older Workers Benefit Protection Act (OWBPA) of 1990 |
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|
Term
| If an employee terminates employment with a company, under this law, the employee is entitled to continue participating in the company's group health plan for a prescribed period of time usually 18 months. |
|
Definition
| Consolidated Omnibus Reconciliation Act (COBRA) of 1985 |
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|
Term
| For the purposes of retirement plans, this is an employee who is defined by the IRS as owning a 5% or more stake of a company or receives compensation in excess of a predetermined amount. To qualify for tax advantages, retirement plans cannot be overly favorable to this type of employee. |
|
Definition
| Highly Compensated Employee |
|
|
Term
| This act was created to make health insurance travel with an employee from one employer to another |
|
Definition
| Health Insurance Portability and Accountability Act (HIPPA) of 1996 |
|
|
Term
| The process of forecasting an organization's staffing needs by analyzing past employment patterns in order to identify trends that may be expected to continue. |
|
Definition
|
|
Term
| A management theory stating that different situations call for different leadership styles and essentially there is no best way to lead. |
|
Definition
|
|
Term
| A law that requires employers with 100 or more employees that are planning a plant closing or mass layoff to give affected employees at least 60 days' notice. |
|
Definition
| Workers Adjustment and Retraining Notification Act (WARN) of 1988 |
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|
Term
| The margin between the highest paid 50 percent and the lowest paid 50 percent of workers in a specific positions or occupation. |
|
Definition
|
|
Term
| A method used to group jobs together that have approximately the same relative internal worth and are paid at the same rate. |
|
Definition
|
|
Term
| A law that sets requirements for the provision and administration of employee benefit plans, including health care benefits, profit sharing and pension plans. |
|
Definition
| Employment Retirement Income Security Act (ERISA) of 1974 |
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|
Term
| A federal statute that amended the Civil Rights Act of 1964 enacted to strengthen and improve federal civil rights laws by providing for damages in cases of intentional employment discrimination, clarifying provisions regarding disparate impact actions and for other purposes. |
|
Definition
|
|
Term
| A motivational theory suggesting that an individual will behave in a manner that helps him or her avoid potential negative outcomes and achieve agreeable outcomes. |
|
Definition
| Organizational Behavior Modification Theory |
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|
Term
| Broadly defined as a management process that seeks to identify potential threats and impacts to the organization and provide a strategic and operational framework for ensuring the organization is able to withstand any disruption, interruption or loss to normal business functions or operations. |
|
Definition
| Business Continuity Planning |
|
|
Term
| An illness or injury that prevents an individual from performing one or more functions of his or her job. |
|
Definition
|
|
Term
| A voluntary procedure used to resolve disputes or conflicts between individuals, groups or labor-management. The procedure utilizes the services of a neutral third party to facilitate discussion and assist the parties in reaching an agreement which is binding. |
|
Definition
| Alternative Dispute Resolution (ADR) |
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|
Term
| An appraisal that requires raters to list important dimensions of a particular job and collect information regarding the critical behaviors that distinguish between successful and unsuccessful performance. These critical behaviors are then categorized and appointed a numerical value and used as the basis for rating performances. |
|
Definition
| Behaviorally Anchored Rating Scale (BARS) |
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