LIBOR (London Interbank Offered Rate)
The interest rate at which major banks offer unsecured loans to each other in the London interbank market, providing a benchmark for short-term interest rates worldwide.
Labor Efficiency Variance
A measure of the difference between actual labour hours and budgeted labor hours.
Lawsuit Payable
A liability resulting from a legal dispute or pending lawsuit.
Lean Accounting
An approach to accounting that focuses on reducing waste and increasing efficiency in financial processes.
Lease Acquisition Costs
Costs associated with acquiring or negotiating a lease agreement.
Letter 5071C
An IRS letter sent to taxpayers to verify their identity and protect against tax fraud.
Levered Free Cash Flow
Free cash flow is adjusted to reflect the financial leverage of a company.
Liabilities
Debts or obligations that a business owes to external parties.
Liquidity
The ability of a company to meet its short-term financial obligations and convert assets into cash.
Lockbox System
A banking service that accelerates the collection of payments by directing them to a centralized location.
