ERISA Definition

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ERISA, in the U.S., refers to the Employee Retirement Income Security Act of 1974. It is a major U.S. law which guarantees certain categories of employees a pension after some period at their employer; there had been more ambiguity before about what rules an employer could put on which employees could get a pension.

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NEGATIVE CONFIRMATION REQUEST, in accounting, in the negative form of accounts receivable confirmation asks the client's customer to respond only if the customer disagrees with the balance determined by the client. The positive form asks the customer to respond whether the customer agrees or disagrees with the client's receivable balance. The negative form is used when controls over receivables are strong and accounts receivable consists of many accounts with small balances. The positive form is used when controls are weak or there are fewer, but larger, accounts. See Positive Confirmation.

SELF-CONTRUCT ASSETS is the costs incurred to build it yourself.

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