Business Glossary
Clear, concise definitions of key business terms in payroll, finance, HR, compliance, and outsourcing. Your reference guide from MYND's domain experts.
Showing all 625 terms
Lease Administration
Lease administration is the systematic management of lease contracts, covering document abstraction, financial tracking, milestone management, and Ind AS 116 compliance.
View definitionLease Management
Understanding Lease Management: A Core Definition Lease management refers to the comprehensive and systematic process of overseeing all aspects of an organization’s leased assets throughout their...
View definitionlease management software
Understanding Lease Management Software Lease management software is a specialized digital platform designed to centralize, track, administer, and optimize an organization's portfolio of leased assets...
View definitionLeave and Absence
Understanding Leave and Absence in Human Resources In the discipline of Human Resources (HR), Leave and Absence refers to the comprehensive framework, policies, and processes governing an employee's t...
View definitionLeave Encashment
Leave Encashment: Understanding Your Unused Time Off Leave encashment , also known as leave surrender or leave encashment of earned leave, refers to the process by which an employee can convert their...
View definitionLeave Encashment Calculation
Leave Encashment Calculation Leave Encashment Calculation , in the realm of Human Resources (HR), refers to the systematic process of determining the monetary value of an employee’s accrued but...
View definitionLeave Management
Leave Management Leave Management , also known as absence management, refers to the systematic process by which an organization tracks, approves, and administrates employee time off from work.
View definitionLedger Posting
Ledger Posting In accounting, ledger posting refers to the process of transferring financial transaction information from a journal to the appropriate accounts in a ledger.
View definitionLiaising with Authority
Liaising with Authority in Human Resources In the realm of Human Resources (HR) and corporate governance, Liaising with Authority refers to the systematic and strategic process by which HR professiona...
View definitionLiaison with Statutory authorities
Understanding Statutory Liaison in Human Resources In the realm of Human Resources (HR) and corporate governance, Liaison with Statutory Authorities refers to the formal and strategic process of actin...
View definitionLIFO (Last In First Out)
LIFO (Last-In, First-Out): Understanding Inventory Valuation and Costing LIFO, an acronym for “Last-In, First-Out,” is an inventory costing method used by businesses to assign costs to inventory.
View definitionLive Video Interview
Live Video Interview A live video interview (also known as a synchronous video interview) is a digital recruitment method in which an employer and a job candidate communicate in real-time using intern...
View definitionLoan & Other Employee Transactions
Understanding Employee Loans and Financial Transactions In the realm of Human Resources and corporate finance, Loan & Other Employee Transactions refer to the administration, tracking, and management ...
View definitionLoan Deduction
Loan Deduction A loan deduction , in a business context, refers to any amount subtracted from a company’s revenue or profit that is specifically attributed to the repayment of a loan.
View definitionLogistics Recruitment
Understanding Logistics Recruitment: A Definitive Overview Logistics Recruitment is a highly specialized branch of Human Resources (HR) and Talent Acquisition dedicated to sourcing, screening, hiring,...
View definitionLoss of Pay (LOP)
Loss of Pay (LOP) Loss of Pay (LOP) is a human resources (HR) term referring to the practice of deducting wages from an employee’s salary for periods of absence from work that are not covered by paid...
View definitionLWF Deduction
Understanding the LWF Deduction: A Comprehensive Guide The LWF Deduction, an acronym for Labour Welfare Fund Deduction , is a statutory levy imposed by certain state governments in India on employers.
View definitionMaintenance of relevant statutory registers and other records
Understanding Statutory Registers and Records in Human Resources The maintenance of relevant statutory registers and other records refers to the mandatory administrative practice wherein an employer s...
View definitionManagement Accounting
Management Accounting Management accounting , also known as managerial accounting, is a subset of accounting that provides financial and non-financial information to managers within an organization...
View definitionManagement Accounts
Management Accounts Management accounts , also known as internal accounts or performance reports, are financial reports generated by a business for its own internal use.
View definitionManager Self-Service
Manager Self-Service (MSS) Manager Self-Service (MSS) is a technological capability within Human Resource Information Systems (HRIS) or Human Capital Management (HCM) platforms that empowers line...
View definitionManpower Augmentation
Manpower Augmentation Manpower augmentation (also widely referred to as staff augmentation ) is an organizational outsourcing strategy used to staff a project and respond to changing business objectiv...
View definitionManpower Planning
Manpower Planning Manpower Planning , often interchangeably referred to as Human Resource Planning (HRP) or Workforce Planning , is the continuous process of systematic planning to achieve the...
View definitionManpower Supply
Manpower Supply: A Comprehensive HR Glossary Entry Definition and Overview In the discipline of Human Resources (HR) and workforce management, Manpower Supply refers to the total availability of suita...
View definitionManufacturing Recruitment
Understanding Manufacturing Recruitment Manufacturing recruitment is a specialized branch of human resources (HR) and talent acquisition focused on sourcing, attracting, evaluating, and onboarding per...
View definitionMarket Mapping
Market mapping visually charts competitors, customer segments, and growth trends within an industry. This guide explains how to construct actionable market maps to identify commercial gaps and optimize strategic investments.
View definitionMaster Service Agreement (MSA)
Understanding the Master Service Agreement (MSA) A Master Service Agreement (MSA) is a foundational, overarching legal contract between two parties—typically a business enterprise and a vendor, servic...
View definitionMaternity Leave
Maternity Leave: Supporting New Mothers in the Workplace Maternity leave is a period of paid or unpaid absence from work granted to a mother before and after childbirth or adoption.
View definitionMCA (Ministry of Corporate Affairs)
Ministry of Corporate Affairs (MCA) The Ministry of Corporate Affairs (MCA) is a government ministry of the Republic of India responsible for the administration of the Companies Act, 2013, the...
View definitionMedical Allowance
Medical Allowance: Understanding Employee Health Benefits A Medical Allowance , often referred to as a health allowance or medical benefit, is a predetermined amount of money or a reimbursement...
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