GAAP coding simplifies accounting by establishing standard coding processes based on generally accepted accounting principles. It involves a four-layer approach and defines categories for tracking assets and liabilities, making it easier to reconcile and audit financial records. GAAP coding is a process that involves establishing standard coding processes based on generally accepted accounting principles. Introduced […]
A back letter is a legally binding document used to supplement master agreements, specifying rights and responsibilities not included in the main agreement. It can address concerns, changes in trade laws, and compensation for breach of contract, without voiding or changing the main agreement. A back letter is a type of legally binding document that […]
Constellation mythology tells stories about the arrangement of stars in the sky, often based on existing myths. These stories involve gods and heroes and can vary across cultures. Some constellations are named after characters in myths, such as Orion and Ursa Major. Stories can also be created to explain the shapes of constellations seen in […]
Pièce de résistance is a French term meaning the highlight or most impressive thing. It was first used in English in the mid-19th century to describe the final dish of a meal. It can also be used to describe the highlight of a collection, an actor’s performance, or a memorable moment. It can be used […]
“Double take” is an English idiom used to describe a surprised reaction to something unexpected, often with a short delay. It can also refer to an exaggerated reaction in acting, with origins in film slang. Idioms are common in English and acquire new meanings through common usage. The phrase can also refer to a delayed […]
Sports medicine is a growing field that focuses on preventing and treating sports-related injuries. It involves various professionals, including physicians, nutritionists, personal trainers, coaches, and sport psychologists. The goal is to optimize a healthy lifestyle and ensure a full recovery after an injury. Sports medicine is not exclusive to professional athletes and is becoming increasingly […]
A common size income statement shows each account as a percentage of net sales value, making it easy to compare the impact of each account on earnings and compare different periods. It can also be used to compare companies and measure performance against industry standards. A common size income statement is a financial statement that […]
Idioms are figurative phrases derived from literal meanings. “Bent out of shape” means not to get angry over small issues, or when plans are altered. It’s easier to solve problems with a clear head. Other similar idioms include “get a cow” or “fuss.” There are many English phrases that, taken literally, don’t make much sense. […]
A registrar keeps track of the owners of securities, such as stocks and bonds, for administrative purposes. The owner may have certain rights, including voting and receiving dividends. The record holder is entitled to dividends on the record date, which is two business days after the purchase date. Record holders can be individuals, corporations, or […]
Theoretical physicists require advanced degrees and strong math skills to conduct research, run experiments, analyze data, publish findings, and teach students. They formulate theories on topics such as black holes and quantum mechanics, conduct experiments, analyze data, and share findings through publications and presentations. They also teach students in universities and laboratories. Working as a […]
Relationship pricing is a fee structure that offers existing customers discounted prices on ancillary products, deepening ties and increasing loyalty. Banks, teleconferencing companies, and other businesses use this approach to broaden their suite of services and generate profit while offering customers a unique shopping experience. Also known as relationship-based pricing or RBP, relationship pricing is […]
Customer profitability is the process of determining whether the resources spent on acquiring and maintaining a customer relationship are greater or less than the benefits generated. The most common model involves evaluating customer acquisition cost and indirect benefits such as word of mouth. Maintaining customer profitability requires a strong customer service ethic. Customer profitability is […]
A shared universe is a setting where multiple writers create characters who can interact and impact each other’s stories. Examples include comic book series and literary works like the Cthulhu Mythos and Star Wars Expanded Universe. It differs from collaborative work as it involves multiple books with different characters, allowing events in one story to […]
Creative non-fiction combines fiction and non-fiction techniques to present factual information in a story-like format. It includes literary and non-literary elements, such as research and narration, and is gaining recognition as a literary genre. Writers must be careful to avoid exaggerating or fabricating events. The genre is open to scrutiny and ethical criticism, and authors […]
Tourism and hospitality management is the study of operating hospitality tourism programs or businesses, such as hotels and restaurants. Courses cover culture, geography, marketing, finance, and management. Degrees range from AAS to PhD. The two fields are connected as tourism is about where people go and hospitality management focuses on what they do when they […]
A fixed budget is a budget that does not change during the time period it covers, regardless of changes in business activity. It is different from a flexible budget, which allows for changes based on revenue. A fixed budget is developed based on historical data and can include provisions for transferring funds if income is […]
Languages are constantly expanding through the formation of new words, which can be derived from related words, blended together, borrowed from other languages, or clipped. The first words were metaphors that represented something so absolutely that they could conjure a mental picture. Derivation and merging are important ways in which word formation occurs. Many children […]
The idiom “going bananas” was coined in 1968 and is a result of cultural shifts and experimentation in the 60s and 70s. College students are often the first to adopt new language trends, and the expression may have originated from smoking banana peels, which was believed to have psychedelic effects. The expression remains in use […]
Osteoarthritis is a degenerative joint disease that causes pain and instability in weight-bearing joints. It is not inflammation like rheumatoid arthritis and has no specific cure, but pain management options are available. Obesity, heredity, genetics, and sports injuries can lead to its formation. It doesn’t affect all weight-bearing joints, and overuse of joints like elbows […]
Liens restrict property or fund use until resolved. Real estate liens include mortgages, taxes, and easements. Accounting liens hold funds for financial responsibility. It’s important to understand liens before transactions. A lien is some type of property restriction that may inhibit its transfer. Liens may affect title to property or may take the form of […]
