deficiency

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Deficiency

The amount by which a project's cash flow is not adequate to meet debt service.

Deficiency

1. The amount by which cash flow falls short of debt service. For example, if a company has $300,000 in current liabilities and only $250,000 in cash flow for a given year, its deficiency is $50,000.

2. In taxation, the amount by which one's tax liability exceeds what the individual person or organization reported. For example, if the IRS disallows certain deductions that the taxpayer applied, he/she will owe more in taxes than he/she reported on the return. Deficiency is the amount this taxpayer still owes to the IRS.

deficiency

1. The amount by which an individual's or an organization's tax liability as computed by the Internal Revenue Service exceeds the tax liability reported by the taxpayer.
2. The amount by which a firm's liabilities exceed assets.

deficiency

The amount due on a mortgage loan after adding all expenses of foreclosure and accrued interest to the principal balance of the loan and then deducting the sale price or lender-bid price for the property. The balance remaining, if any, may be collected by the lender by means of taking a deficiency judgment, unless prohibited by law or contract. Deficiency judgments may be collected just like any other judgment, through seizure of other assets or garnishment. There are two circumstances when a lender may not collect any deficiency:

1. In states with consumer protection statutes that outlaw deficiencies on first mortgages on a borrower's principal residence.

2. With mortgage loans designated as nonrecourse, meaning the lender and borrower agreed in advance that the property would stand for the debt and there would be no deficiency allowed in the event of foreclosure.

References in periodicals archive ?
She said that the cost of health care services utilization due to zinc deficiencies, low rates of breastfeeding, and low birth weight is also high.
Table: 2 Frequency of various coagulation factor deficiencies (n = 273)
A deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected, on a timely basis.
The study also demonstrated that women with a thrombophilic deficiency have a high risk of multiple deficiencies.
To optimize a company's position in respect to the computation of interest on refunds and deficiencies, a tax executive must understand the somewhat contradictory court decisions and IRS rulings.
* More than half of the disclosed control deficiencies were material weaknesses.
Inconsistencies in recorded temperatures, nutrition assessments, and verbal answers can lead to deficiencies. Survey readiness should be an ongoing process, as your facility needs to be in order at all times.
"We found some gaps in existing documentation and some control deficiencies, but, because we got started early, we were able to remediate the deficiencies and retest the controls," Edmonds recounts.
The next point of clarification regards the difference between inadequacies and deficiencies. The first is one of scope.
However, I think there is a more subtle threat posed by MDS-related deficiencies: the phenomenon of regulators "cross-referencing" the facts cited in an MDS deficiency to a Quality of Care deficiency such as pressure sores, inadequate nutrition, or dehydration.
Common reasons for heme deficiency are iron and vitamin [B.sub.6] deficiencies, aging, and exposure to toxic metals such as aluminum, in addition, degradation of heme by heme oxygenase, which increases with age and in the brains of AD patients, may be a factor in changes in the metabolism of iron and heme with age.
The FTB also does not have a special procedure for stock option deficiencies and deals with these matters on a case-by-case basis.