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Related to adjustments: Adjustments to income


1. A tax deduction taken on a loss, especially on bad debt or accounts receivable that will likely not be collected. One is not liable for income that is not actually realized.

2. In insurance, a payment on a claim. For example, if one has homeowner's insurance and his/her house floods, he/she is entitled to an adjustment, so long as the insurance covers flooding. Arriving at the amount of the adjustment is a complex process and insurance companies employ full-time adjusters to investigate claims and determine what amount, if any, the adjustment should be.

3. In an adjustable-rate mortgage, a change in the interest rate paid on the mortgage. The adjustment may be upward or downward. See also: Adjustment frequency.


Closing: Debits and credits to the purchase price of a property because of items to be paid by the seller or the buyer. All adjustments should be reflected on a settlement statement. (The settlement statement used in home sales is a form,called a HUD-1,created by the Department of Housing and Urban Development.).In appraisal:See adjusted sales price.

References in periodicals archive ?
Interest runs from the due date of the LLC return for the year to which the adjustment applies, to the earlier of the due date for the LLC return for the year in which the adjustment is made or the payment date.
They should risk-rate all accounts and reconcile high- and medium-risk accounts in time to incorporate general ledger adjustments into the company's earnings release.
The adjustment and unitrust provisions, which must comply with detailed notice and beneficiary consent requirements, will prove important to trustees and their advisers.
The purpose of our paper is to provide a review of the literature on the psychological factors associated with the adjustment and outcome of work-related amputation.
SVPCO Online Adjustments, a secure, web-based application available to any financial institution with Internet access, features new functionality that will significantly reduce the cost of check adjustments -- the most expensive part of an institution's check processing operations.
These annual adjustments, known as the low reserve tranche adjustment and the reserve requirement exemption amount adjustment, are based on growth in net transaction accounts and total reservable liabilities, respectively, at all depository institutions between June 30, 2003, and June 30, 2004.
When managed properly, tenants are typically notified on a quarterly basis of any adjustments or rate increases that will be applied to their rent bill.
48) Ad justments are divided into APA primary adjustments and secondary adjustments.
However, the dollar adjustments are summed while the equivalent percentages should be multiplied.
For the individual, adjustments to micro-, mezzo-, and macrolevels may not progress simultaneously.
Adjustments that worked to control a problem yesterday may seem to have no effect today.
As a result, if gains or losses fall outside the 10-percent corridor, the adjustment to the current year's expense may be substantial, making the accurate budgeting of pension and postretirement benefit expense virtually impossible and causing significant fourth-quarter earnings adjustments.