Labor Contracts

Cost-of-Living Adjustment (COLA)
A COLA is an adjustment in wages or benefits intended to offset changes in the cost of living, typically indexed to metrics such as the Consumer Price Index (CPI).
Reopener Clause
A reopener clause is a contractual provision that allows for the renegotiation of specific terms in a collective bargaining agreement before its expiration under certain conditions.

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.