Defalcation

Defalcation
Defalcation is a financial crime that involves the embezzlement of property or funds by an individual entrusted with its custody or control.
Fidelity Bond
A fidelity bond is an insurance policy that provides coverage against specified losses arising from dishonest acts or defalcations by an employee.

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.