Glossary of Legal Terms

Glossary of Legal Terms

If a contract or lease is executory, a debtor may assume it (keep the contract) or reject it (terminate the contract). Pertaining to civil suits in “equity” rather than in “law.” In English legal history, the courts of “law” could order the payment of damages and could afford no other remedy (see damages). A separate court of “equity” could order someone to do something or to cease to do something (e.g., injunction). In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in “law” cases but not in “equity” cases. A release of a debtor from personal liability for certain dischargeable debts.

(a) See § 200.1 for the definitions of capital expenditures, equipment, special purpose equipment, general purpose equipment, acquisition cost, and capital assets. (h) Costs of legal, accounting, and consultant services, and related costs, incurred in connection with patent infringement litigation, are unallowable unless otherwise provided for in the Federal award. (4) An authorized Federal official must determine the percentage of costs allowed considering the complexity of litigation, generally accepted principles governing the award of legal fees in civil actions involving the United States, and such other factors as may be appropriate. However, if an agreement reached under paragraph (c) of this section has explicitly considered this 80 percent limitation and permitted a higher percentage, then the full amount of costs resulting from that agreement are allowable. Post-retirement health plans (PRHP) refers to costs of health insurance or health services not included in a pension plan covered by paragraph (g) of this section for retirees and their spouses, dependents, and survivors.

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Special arrangements and alterations costs incurred specifically for a Federal award are allowable as a direct cost with the prior approval of the Federal awarding agency or pass-through entity. (ii) Where donated services directly benefit a project supported by the Federal award, the indirect costs allocated to the services will be considered as a part of the total costs of the project. Such indirect costs may be reimbursed under the Federal award or used to meet cost sharing or matching requirements. Fringe benefits are allowances and services provided by employers to their employees as compensation in addition to regular salaries and wages. Fringe benefits include, but are not limited to, the costs of leave (vacation, family-related, sick or military), employee insurance, pensions, and unemployment benefit plans. Except as provided elsewhere in these principles, the costs of fringe benefits are allowable provided that the benefits are reasonable and are required by law, non-Federal entity-employee agreement, or an established policy of the non-Federal entity.

In finance, the opportunity for profit is termed return; the potential for loss, or the chance that an investment will not achieve the expected level of return, is risk. A basic principle in finance is that the higher the risk, the greater the return that is required. Financial managers consider many risk and return factors when making investment and financing decisions. Among them are changing patterns of market demand, interest rates, general economic conditions, market conditions, and social issues (such as environmental effects and equal employment opportunity policies).

The Advantages and Disadvantages of the Internal Rate of Return Method

The reason the Box-Jenkins and the X-11 are more costly than other statistical techniques is that the user must select a particular version of the technique, or must estimate optimal values for the various parameters in the models, or must do both. For example, the type and length of moving average used is determined by the variability and other characteristics of the data at hand. While the X-11 method and econometric or causal models are good for forecasting aggregated sales for a number of items, it is not economically feasible to use these techniques for controlling inventories of individual items.

As a freelance writer and public speaker, she’s committed to helping people achieve their goals. Over the course of your retirement, your living expenses will rise, so make sure to budget for those increases. If you plan to increase your travel in retirement, build that additional Three Primary Methods Used to Make Capital Budgeting Decisions cost into your budget. This section provides a summary of the occupational series that have medical requirements. Office of Personnel Management’s basic guidance on the establishment of medical standards and physical requirements for Federal civilian positions.

What About the Time Value of Money?

Once a company has paid for all fixed costs, any throughput is kept by the entity as equity. Cloud solution service providers have large, full-time teams that are exclusively dedicated to proactively monitoring and staying current with cloud security issues and threats, 24 hours a day. The ERP landscape has shifted with the rapid evolution of software as a service (SaaS) cloud applications.

However, the results did not state that DCF or non-DCF cash flow methods are preferred over the other methods. On other hand, the PI technique was the most used technique followed closely by the PBP. Bennouna et al. (2010) stated that the Canadian firms preferred to use NPV but still show a gap between theory and practice. Of those, the majority of the Canadian firms used NPV and IRR, and only 8% preferred real options. The result shows a theory-practice gap remains in the detailed elements of DCF capital budgeting decision techniques and in real options. Hence, the rate of return being obtained from existing operations is averaged with the interest rate on debt to obtain the weighted average cost of capital (WACC).

These, in turn, overlap and employ various activities and sub-disciplines – chiefly investments, risk management, and quantitative finance. Khamees et al. (2010) conducted a study on the Jordan Industrial Corporation and found that firms used equal percentages of DCF and non-DCF methods in evaluating capital investment projects. Results also reported that the most popular method is the PI followed by the PBP.

(ii) The patent or copyright has been adjudicated to be invalid, or has been administratively determined to be invalid. (1) Types and extent and cost of coverage are in accordance with the non-Federal entity’s policy and sound business practice. (5) Gains and losses arising from mass or extraordinary sales, retirements, or other dispositions must be considered on a case-by-case basis.

They can automate processes that used to require heavy manual intervention, such as reconciling financial accounts. In addition, users gain a comprehensive, real-time understanding of enterprise business activities not only in the front office, but also in warehouses, on factory floors, and everywhere else across the enterprise. This knowledge is then readily available to every appropriate employee on their mobile devices, including smartphones and tablets. ERP systems are designed around a single, defined data structure (schema) that typically has a common database. This helps ensure that the information used across the enterprise is normalized and based on common definitions and user experiences.

• Financial mathematics [39] is the field of applied mathematics concerned with financial markets;
  Louis Bachelier’s doctoral thesis, defended in 1900, is considered to be the first scholarly work in this area.
• Management usually must make decisions on where to allocate resources, capital, and labor hours.
• A transfer of the debtor’s property made after the commencement of the case.
• Equally, during the rapid-growth stage, submodels of pipeline segments should be expanded to incorporate more detailed information as it is received.
• This is actually being done now by some of the divisions, and their forecasting accuracy has improved in consequence.