DOCUMENT CONTROL Definition

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DOCUMENT CONTROL is a function or department which keeps track of all documentation, specifications and processes. The purpose is to ensure that everyone uses the correct and most current processes and specifications.

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TIME VALUE OF MONEY is the idea that a dollar today is worth more than a dollar in the future, because the dollar received today can earn interest up until the time the future dollar is received.

W-2 FORM, Wage and Tax Statement, is the form U.S. employers are required by the IRS to issue for each employee before February 28th of the following year. The W2 form lists the employees total wages/compensation and taxes withheld within the calendar year of the year preceding.

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