adjustments


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Related to adjustments: Adjustments to income

Adjustment

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.

adjustments

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 classic literature ?
Our fears must have been prophetic, for on that same evening the wildwood discharged upon us Milly's preordained confiscator--our fee to adjustment and order.
At last the bollworm had attacked the cotton--the poison ivy was reaching out its tendrils to entwine the summer boarder--the millionaire lumberman, thinly disguised as the Alaskan miner, was about to engulf our Milly and upset Nature's adjustment.
"Then," said I, "when you led us against the lumberman--the-- Klondiker--it wasn't altogether on account of the Unerring Artistic Adjustment of Nature?"
It is oblong - some thirty feet in length and twenty-five in breadth - a shape affording the best(ordinary) opportunities for the adjustment of furniture.
Further, compiling the specific information required by the proposed Schedule M-3 (together with a proposed effective date tied to tax years ending on or after December 31, 2004) will impose a substantial burden on taxpayers that must make substantial adjustments to their accounting and information technology systems to comply.
The Association of General Contractors board of directors has responded to the steel price escalation by approving a resolution urging public and private owners to permit steel price adjustments in both new and existing contracts.
"Based on the agreement, the two concessionaires are allowed to do annual inflation adjustment. It is the inflation rate as of July that will be used for purposes of adjustments the following year," MWSS chief regulator Patrick Ty said yesterday.
ISLAMABAD -- Power distribution companies (DISCOs) including IESCO, FESCO and LESCO has sought from the National Electric Power Regulatory Authority (NEPRA) to approve adjustments in the consumer end tariff pertaining to the financial year (FY) 2016-17 and FY 2017-2018 to maintain their financial viability.
Department of Labor (DOL) published an interim final rule (IFR), in which it identified and explained the adjustments to OSHA's civil penalties that will become effective on August 1.
Adjustments are in accordance with the notice concerning the adjustment of jet fuel prime price, released by the National Development and Reform Commission an Civil Aviation Administration of China.
Electing large LLCs can treat audit adjustments in one of two ways: 1.
* Companies need to reconcile all accounts that could contain a significant or material misstatement and post all necessary adjustments to the general ledger in a timely manner rather than allowing their external auditor to identify such misstatements during its review of the company's SEC filings.