Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Intellectual Property Rights (IPR)
Legal protections granted to creators for their inventions, designs, trademarks, and works of authorship.
Customer Service Solutions
Tools and technologies that assist organizations in providing better support to their customers.
Advanced Persistent Threat (APT) Protection
Protection measures against advanced threats that aim to gain unauthorized access and persist undetected by using advanced techniques.
Economics Protectionism
Economic policies that restrict imports to protect domestic industries and are linked to controlling interest rates to regulate debt levels and the purchasing power within society.
Constructive Possession
A term referring to the circumstance where a person holds legal ownership of an asset, without holding the physical possession or the right to use this asset.
Taxable Person
A person who carries out an economic activity independently with the aim of generating income, and is registered or obligated to register for tax purposes in accordance with the provisions of The Unified Agreement for VAT of GCC.
Economic World Map
A global representation of economic data, highlighting regional and national economic strengths, trade relations, and financial flows.
Bond Settlement Account (BSA)
A specialized account used to facilitate the settlement of bond transactions, ensuring the secure transfer of ownership and funds.
Money Market Account
A savings account that offers a higher interest rate in exchange for limited transaction flexibility.
Final Accounts
A cumulative report of the monthly accounts' schedules prepared to know the total expenditures and revenues at the level of government bodies within the budget, including all details and supplementary clarifications and tables.
Market Share
The percentage of total sales in an industry generated by a particular company.
Import Quotas
Limits set on the amount of a particular good that can be imported into a country, often used to protect domestic industries.
Right of Usufruct
A tangible right that entitles the beneficiary to access the property of others, and to utilize it. This right is established by the approval of the parties, or by the law, and it can be restricted for a specific term or condition.
Voting Rights
The right held by a shareholder to vote when a decision needs to be made.
Beneficiary- Centric Problem Solving
Addressing customer challenges and issues with a focus on finding solutions that meet their specific needs.
Protection and Monitoring
Monitoring government properties, protecting them from any encroachment, preserving them, and taking the necessary measures.
Exceptional Cargo
Goods that are not usually loaded in a transport unit that can be packaged and sealed due to weight, size or nature, provided that such goods can be easily recognized.
Incentives
Amounts of money paid to the entity in exchange for developing its revenues according to specific mechanisms.
Cloud Computing
On-demand access to shared computing resources over the network, including infrastructure, platforms, and software.
Beneficiary- Centric Data Governance
Establishing policies and practices to ensure the quality and safety of Beneficiary’s data.
Actual Possession
A term referring to the case circumstance where a person holds physical possession and right to use of an asset (whether or not that person holds legal ownership).
Strategy Map
A visual representation of an organization's strategic objectives and the cause-and-effect relationships that connect them.
Proportional Deduction
The method of calculating Deductible Tax when the Input Tax is related to Goods and Ser- vices used to make Taxable Supplies and non-Taxable Supplies, based on the proportion referable to the Taxable Supplies.
Treasury
The department or function responsible for managing an organization's financial assets, investments, and cash flow, often in a corporate or government context.
Initial Input Tax Deduction
The deduction of Input Tax made by a Taxable Person upon the purchase of a Capital Asset, calculated by applying the Initial Recovery Percentage to the total Input Tax incurred on that Capital Asset.
Strategic Plan
Long-term business or governmental plans aimed at achieving specific goals.
Risk Mitigation Plan in Budgeting
A plan has to be prepared to ensure that the potential risks are identified and the mechanism has been applied to mitigate any risk, by specifying the escalation procedures that must be followed to deal with any challenges that may arise during the budget preparation project.
Risk
The possibility of harmful or uncertain events that may happen and affect the achievement of the organization's strategy and business objectives, which have a positive or negative impact.
Unit Cost Reduction
A future cost decrease resulting from organizational and operational changes that impact only the unit cost.
Sustainable Reduction
The annual financial impact resulting from a decrease in the budget or actual operational costs compared to the baseline established during the study.
Job Creation
Creating new job opportunities in the public and private sectors to meet market needs.
Willingness
A company's or investor's willingness and capacity to take on risk or make investments.
Prior Payment Control
Review and approving the financial transaction documents before disbursement.
Direct Control
An administrative method to implement financial control within the entity, through the financial controller.
Central Control
The ongoing oversight of information systems with financial impact by evaluating these systems, analyzing their data, and ensuring the efficiency and integrity of regulatory controls over the operating processes and inputs and outputs of these systems.
Non-Sampling Error
Errors in statistical data analysis that are not related to the sampling process, including inaccuracies or issues in data collection or analysis.
Annual Borrowing Plan
A plan outlining a company's strategy for acquiring funds or debt over a year, including the amount, terms, and purposes of borrowing.
Customs Office
The sector at each seaport, airport, and land port or at any other place where there is a branch office of the Administration authorized to complete all or some of the customs procedures.
Comprehensive Basic Income
A government-provided fixed income given to all citizens regardless of employment status.
Incident Monitoring and Reporting
The ongoing process of tracking and reporting the progress of corrective actions and monitoring the incident's resolution.
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