|
Deferred Maintenance
Deferred maintenance is the practice of postponing maintenance activities such as repairs on both real property (i.e. infrastructure) and personal property (i.e. machinery) in order to save costs, meet budget funding levels, or realign available budget monies. The failure to perform needed repairs could lead to asset deterioration and ultimately asset impairment. Generally, a policy of continued deferred maintenance may result in higher costs, asset failure, and in some cases, health and safety implications. Technical vs. accounting The technical community (e.g., engineers, facilities managers, and logisticians, etc.) makes distinctions between maintenance and repairs whereas accountants generally do not. Accountants typically look at maintenance and repairs as period costs requiring immediate expensing as opposed to capital improvements that become capitalized and depreciated over some future time period. The technical community often defines maintenance in terms of retaining an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and private physical structures such as roads, railways, bridges, airports, public transit systems, tunnels, water supply, sewers, electrical grids, and telecommunications (including Internet connectivity and broadband access). In general, infrastructure has been defined as "the physical components of interrelated systems providing commodities and services essential to enable, sustain, or enhance societal living conditions" and maintain the surrounding environment. Especially in light of the massive societal transformations needed to mitigate and adapt to climate change, contemporary infrastructure conversations frequently focus on sustainable development and green infrastructure. Acknowledging this importance, the international co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Machinery
A machine is a physical system that uses power to apply forces and control movement to perform an action. The term is commonly applied to artificial devices, such as those employing engines or motors, but also to natural biological macromolecules, such as molecular machines. Machines can be driven by animals and people, by natural forces such as wind and water, and by chemical, thermal, or electrical power, and include a system of mechanisms that shape the actuator input to achieve a specific application of output forces and movement. They can also include computers and sensors that monitor performance and plan movement, often called mechanical systems. Renaissance natural philosophers identified six simple machines which were the elementary devices that put a load into motion, and calculated the ratio of output force to input force, known today as mechanical advantage. Modern machines are complex systems that consist of structural elements, mechanisms and control compo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Logistician
A logistics officer is a member of an armed force or coast guard responsible for overseeing the support of an army, air force, marine corps, navy or coast guard fleet, both at home and abroad. Logistics officers can be stationary on military bases or deployed as an active part of a field army, air wing, naval force or coast guard fleet. The responsibilities of Logistics Officers vary, depending on where they are deployed and what tasks they are assigned. In addition, different countries have different roles for Logistics Officers. The main role of these officers remains the same regardless of where they are stationed; to ensure that the force is supplied with enough food, water, fuel, ammunition and other goods and services to complete the task at hand. Australia In Australia each of the three independent Services of the Australian Defence Force (ADF) have different definitions for a 'Logistics Officer'. Logistics officers lead and coordinate planning and execution of the operati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Accounting
Accounting, also known as accountancy, is the process of recording and processing information about economic entity, economic entities, such as businesses and corporations. Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and Regulatory agency, regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used interchangeably. Accounting can be divided into several fields including financial accounting, management accounting, tax accounting and cost accounting. Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to the external users of the information, such as investors, regulators and suppliers. Management accounting focuses on the measurement, analysis and reporting of information for internal use by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
FASAB
The Federal Accounting Standards Advisory Board (FASAB) is a United States federal advisory committee whose mission is to improve federal financial reporting through issuing federal financial accounting standards and providing guidance after considering the needs of external and internal users of federal financial information. FASAB is designated as the body that sets U.S. generally accepted accounting principles (GAAP) for the United States Government and its component entities, referred to as federal financial reporting entities. The AICPA Council designated FASAB as the body that establishes GAAP for federal entities in 1999. The Chief Financial Officers Act of 1990 required annual, audited financial statements for the United States Government and its federal reporting entities. In order to apply the statutes of the CFO Act of 1990, the Secretary of the Treasury, the Director of the Office of Management and Budget (OMB), and the Comptroller General established FASAB to develo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Traffic Collision
A traffic collision, also known as a motor vehicle collision, or car crash, occurs when a vehicle collides with another vehicle, pedestrian, animal, road debris, or other moving or stationary obstruction, such as a tree, pole or building. Traffic collisions often result in injury, disability, death, and property damage as well as financial costs to both society and the individuals involved. Road transport is statistically the most dangerous situation people deal with on a daily basis, but casualty figures from such incidents attract less media attention than other, less frequent types of tragedy. The commonly used term car accident is increasingly falling out of favor with many government departments and organizations: the Associated Press style guide recommends caution before using the term and the National Union of Journalists advises against it in their Road Collision Reporting Guidelines. Some collisions are intentional vehicle-ramming attacks, staged crashes, vehicu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Technical Debt
In software development and other information technology fields, technical debt (also known as design debt or code debt) refers to the implied cost of additional work in the future resulting from choosing an expedient solution over a more robust one. While technical debt can accelerate development in the short term, it may increase future costs and complexity if left unresolved. Analogous to monetary debt, technical debt can accumulate "interest" over time, making future changes more difficult and costly. Properly managing this debt is essential for maintaining software quality and long-term sustainability. In some cases, taking on technical debt can be a strategic choice to meet immediate goals, such as delivering a proof-of-concept or a quick release. However, failure to prioritize and address the debt can result in reduced maintainability, increased development costs, and risks to production systems. Technical debt encompasses various design and implementation decisions that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
