Bureaucracy

Bureau
A particular department, agency, or office, often accompanied by the name of a specific agency, such as the Federal Bureau of Investigation (FBI). Bureaus are typically entities within a larger organization or government body, designed to manage specific types of tasks or responsibilities.
Parkinson's Law
Parkinson's Law, formulated by C. Northcote Parkinson, posits that work expands to fill the time available for its completion and that organizations become inefficient over time due to internal pressures and redundant bureaucracy.
Red Tape
The term 'red tape' refers to the necessity to complete extensive paperwork to gain approval by several people in order to accomplish a goal. It is often associated with bureaucratic processes and inefficiencies.
Vertical Organization
A hierarchically structured organization where all management activities are controlled by a centralized management staff, often leading to strong bureaucratic control.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.