What is the Completed Contract Method (CCM)? The completed-contract method is an accounting concept that enables a business or a taxpayer to delay income reporting until the contract is complete. Even if the contractor receives payment during project implementation, he or she can still delay the reporting of such revenue. The reason is that the reco...

What is the American Risk and Insurance Association? The American Risk and Insurance Association (ARIA) is an organization established in 1932 for academics, scholars, professionals and, associates in the insurance industry. The primary objective of this association is to promote the knowledge of risk management and insurance among these professiona...

What is the Warsaw Convention? Warsaw Convention is an international convention or agreement that regulates the conveyance of goods or passengers or luggage in international transport, especially in the aviation industry. The Warsaw convention stipulates certain requirements regarding the carriage of passengers alongside their luggage or goods (carg...

What is the Scarcity Principle? The scarcity principle is a theory in economics that maintains that scarcity in the supply of a product and high demand for that product cause a discrepancy in the supply and demand equilibrium. Restated, a scarce or rare goods often has a higher value and this results in a mismatch between demand and supply.  What is...

How Much Does an O-1 Visa Cost? An O-1 visa is a very popular program for foreign individuals with extraordinary ability seeking to relocate to the United States to work. As is the case with all visa applications, the process, time period, and costs of securing an O-1 visa can be extensive. There are generally two major costs associated with obtaini...

What is the Association of Southeast Asian Nations? The Association of Southeast Asian Nations (ASEAN) is a group of countries that collaborate to promote solidarity and political, economic, social and cultural growth. ASEAN functions as an intergovernmental organization that focuses on a particular region in order to effectively achieve cooperation...

What is Boilerplate? The term Boilerplate refers to a standardized method, procedure or document. On the other hand, boilerplating refers to the process of using a boilerplate method. Sometimes, the term is used to refer to a lack of sincere effort or originality.  A boilerplate document or clause is used in other files such as low law profession to...

What is Balloon Interest? Balloon interest refers to paying a higher coupon rate on financial instruments held over the long term within a serial bond issue. A serial bond issue has its bonds maturing at different dates but a term issue bonds mature at a specific date with the rest. How Does Balloon Interest Work? Ballon interest comes to play in a ...

What is the Control Function of Management? The controlling function of management generally means organizational control. That is, its a process by which an organization (through its managers) influences its sub-units and members in the process of attaining organizational goals and objectives. Because organizations develop standards and goals, cont...

What is an Accidental High Yielder? An accidental high yielder is a stock that yields a usual but high dividend for a company. The yield for this stock outweighs the normal yield of stocks, it is not what the company expects, it is therefore an accidental high yielder. A stock can be referred to as an accidental high yielder if the dividends a compa...