HR: Acquired or natural capacity, competence, dexterity, proficiency, talent, etc., that enables an individual to perform a particular act, job, or task successfully at any time. See also aptitude.
Borrower's ability to service a loan from his or her disposable income or cashflow, or the taxpayer's ability to pay the tax. Called 'capacity' in banking, it is a critical factor in obtaining a loan. See also five C's of credit and fixed charge coverage ratio.
Party capable of meeting its obligation(s) under a contract, as in the phrase "ready, willing, and able.”
EXTRAORDINARY ITEMS.
Accounts that cover a full accounting period but omit detailed financial information. Abridged accounts are used, for example, to support an initial proposal or to present summary data. See also abbreviated accounts.
Shortened or condensed (but not summarized) version of a written work which preserves the overall meaning, structure, and style of the original version. Also spelled as abridgement. See also abstract, digest, outline, précis, summary, and synopsis.
To cancel or nullify an agreement or contract, either unilaterally or with mutual consent.
Alternative term for strict liability.
Alternative term for pure risk.
Complete internet address that takes one to the exact directory or file of a website. Also called absolute link. See also relative URL.
Statement of what a scholarly or complex written work contains, presented as a summary usually by someone other than the author of the work. An abstract aims to present only the gist of the subject matter, stresses brevity, and makes no attempt to preserve the flavor or style of the original. See also abridgment, digest, outline, précis, summary, and synopsis.
Alternative term for abstract of title.
Litigious action that is obviously in bad faith (such as one meant to delay the delivery of justice), frivolous, or vexatious (see vexatious action), and which is therefore either dismissed or stayed by the courts as misuse (abuse) of the legal process.
Termination of the contract of employment which, while correctly following the legal procedure, is nevertheless an abuse of managerial power in its harshness, unfairness, or vindictiveness. Such abuse of power is in itself illegal in many countries. See also unfair dismissal and wrongful dismissal.
Level of authorization to read and/or modify a record or datafile.
Extent to which a consumer or user can obtain a good or service at the time it is needed.
Supplemental or special services provided in addition a basic service.
Customers who have bought a firm's products at least once in a 12 month period. Active customers are more likely (than the non-active or occasional customers) to buy again.
The process used by an actuary to estimate the present value of benefits to be paid under a retirement benefit scheme and the present values of the scheme assets and sometimes of future contributions.
are used when a client retains an external auditor to perform specific tests and procedures and report on the results. Examples might include special reviews of loan portfolio or internal control systems. In performing agreed-upon procedures, the auditor provides no opinion, certification, or assurance that the assertions being made in the financial statements are free from material misstatement. The users of reports based on agreed-upon procedures must draw their own conclusions on the results of the tests reported. For example, an external auditor could be asked to look at a certain number of corporation loan files and document which of the required forms are in the files. The auditor would report on the selection and the results of the procedures performed but would not provide a formal opinion with conclusions drawn from the results of the procedures.
