ON-THE-JOB TRAINING (OJT) is training that takes place at the work site, usually supervised by a manager or an experienced coworker.
APPRAISAL is a report made by a qualified person setting forth an opinion or estimate of value.
PROVISION FOR CREDIT LOSSES, in lending institutions, is a charge to income which represents an expense deemed adequate by management given the composition of a bank's credit portfolios, their probability of default, the economic environment and the allowance for credit losses already established. Specific provisions are established to reduce the book value of specific assets (primarily loans) to establish the amount expected to be recovered on the loans. See also PROVISION.
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