Disaster Recovery

Back-Up Copy
A back-up copy is a duplicate of information stored on a computer, made to prevent data loss or destruction. Essential for any business, ensuring continuity and data security through proper storage strategies.
Backup
A computer security protection method whereby duplicate data files are stored on secondary storage devices to safeguard against data loss during catastrophic events.
Business Interruption Insurance
Business Interruption Insurance provides indemnification for the loss of profits and continuing fixed expenses when a disaster, such as a fire, prevents business operations.
Contingency Planning
Contingency planning is an approach used to anticipate future events that, while unlikely, are possible. It involves creating a plan of action to respond effectively if these events occur. Examples include crisis management and disaster recovery plans.
Crisis Management
Crisis management is a systematic approach to mitigating potentially severe outcomes in various critical situations, including disaster response for aircraft, naval incidents, fire emergencies, and flood protection.
Disaster Loss
Loss from a disaster in an area declared by the President as warranting federal assistance.

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.