First Mortgage, Fiscal Policy, Fiscal Year, Fixed Asset :




First Mortgage : A piece of property that is pledged as a security against a debt that bears highest priority among all the other claims on the same property. In case the debtor fails to make the payment, the amount that the debtor owes to the holder of the first mortgage will be considered before the consideration of any other claim.



Fiscal Policy : the plans and strategies related to budgetary and financial matters that are followed by a company



Fiscal Year : the twelve month period between the settlement of financial accounts that is chosen by the management of an organisation and that may not necessarily be a calendar year



Fixed Asset : Any property or equipment used in the production of goods and services, such as buildings, machinery, etc. The assets which are not readily convertible to put to any other use except for which it was originally intended unlike the current assets




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