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Regulation S-X
Regulation S-X is a prescribed regulation in the United States of America that lays out the specific form and content of financial reports, specifically the financial statements of public companies. It is cited as 17 C.F.R. Part 210; the name of the part is "Form and Content of and Requirements for Financial Statements, Securities Act of 1933, Securities Exchange Act of 1934, Public Utility Holding Company Act of 1935, Investment Company Act of 1940, Investment Advisers Act of 1940, and Energy Policy and Conservation Act of 1975". Regulation S-X extends the meaning of the term 'financial statements' to include all notes to the statements and all related schedules. Regulation S-X is closely related to Regulation S-K, which lays out reporting requirements for various SEC filings and registrations used by public companies. Regulation S-X profoundly affects internal and external accountants and auditors, and directors and officers and numerous officials, employees and contractors of pub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Reports
Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to understand. They typically include four basic financial statements accompanied by a management discussion and analysis: # A balance sheet or statement of financial position, reports on a company's assets, liabilities, and owners equity at a given point in time. # An income statement—or profit and loss report (P&L report), or statement of comprehensive income, or statement of revenue & expense—reports on a company's income, expenses, and profits over a stated period. A profit and loss statement provides information on the operation of the enterprise. These include sales and the various expenses incurred during the stated period. # A statement of changes in equity or statement of equity, or statement of retained earnings, reports on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FASAB
The Federal Accounting Standards Advisory Board (FASAB) is a United States federal advisory committee whose mission is to improve federal financial reporting through issuing federal financial accounting standards and providing guidance after considering the needs of external and internal users of federal financial information. FASAB is designated as the body that sets U.S. generally accepted accounting principles (GAAP) for the United States Government and its component entities, referred to as federal financial reporting entities. The AICPA Council designated FASAB as the body that establishes GAAP for federal entities in 1999. The Chief Financial Officers Act of 1990 required annual, audited financial statements for the United States Government and its federal reporting entities. In order to apply the statutes of the CFO Act of 1990, the Secretary of the Treasury, the Director of the Office of Management and Budget (OMB), and the Comptroller General established FASAB to deve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fairness Opinion
A fairness opinion is a professional evaluation by an investment bank or other third party as to whether the terms of a merger, acquisition, buyback, spin-off, or privatization are fair. It is rendered for a fee. They are typically issued when a public company is being sold, merged or divested of all or a substantial division of their business. They can also be required in private transactions not involving a company that is traded on a public exchange, as well as in circumstances other than mergers, such as a corporation exchanging debt for equity. Some of the specific functions of a fairness opinion are to aid in decision-making, mitigate risk, and enhance communication. Controversy Controversy in financial and management circles surrounds the question of the objectivity of fairness opinions, as one aspect of the duty of care in the fairness of a transaction. A potential exists for a conflict of interest when an entity rendering an opinion may benefit from the transaction ei ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic Appraisal
Economic appraisal is a type of decision method applied to a project, programme or policy that takes into account a wide range of costs and benefits, denominated in monetary terms or for which a monetary equivalent can be estimated. Economic appraisal is a key tool for achieving value for money and satisfying requirements for decision accountability. It is a systematic process for examining alternative uses of resources, focusing on assessment of needs, objectives, options, costs, benefits, risks, funding, affordability and other factors relevant to decisions. The main types of economic appraisal are: * Cost–benefit analysis * Cost-effectiveness analysis * Scoring and weighting Economic appraisal is a methodology designed to assist in defining problems and finding solutions that offer the best value for money (VFM). This is especially important in relation to public expenditure and is often used as a vehicle for planning and approval of public investment relating to policies, pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Systems Design
Systems design interfaces, and data for an electronic control system to satisfy specified requirements. System design could be seen as the application of system theory to product development. There is some overlap with the disciplines of system analysis, system architecture and system engineering. Overview If the broader topic of product development "blends the perspective of marketing, design, and manufacturing into a single approach to product development," then design is the act of taking the marketing information and creating the design of the product to be manufactured. Systems design is therefore the process of defining and developing systems to satisfy specified requirements of the user. The basic study of system design is the understanding of component parts and their subsequent interaction with one another. Physical design The physical design relates to the actual input and output processes of the system. This is explained in terms of how data is input into a system, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bookkeeping
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. While these may be viewed as "real" bookkeeping, any process for recording financial transactions is a bookkeeping process. The person in an organisation who is employed to perform bookkeeping functions is usually called the bookkeeper (or book-keeper). They usually write the '' daybooks'' (which contain records of sales, purchases, receipts, and payments), and document each financial transaction, whether cash or credit, into the correct daybook—that is, petty cash book, suppliers ledger, customer ledger, etc. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Audit Committee
An audit committee is a committee of an organisation's board of directors which is responsible for oversight of the financial reporting process, selection of the independent auditor, and receipt of audit results both internal and external. In a U.S. publicly traded company, an audit committee is an operating committee of the board of directors charged with oversight of financial reporting and disclosure. Committee members are drawn from members of the company's board of directors, with a Chairperson selected from among the committee members. A qualifying (cf. paragraph "Composition" below) audit committee is required for a U.S. publicly traded company to be listed on a stock exchange. Audit committees are typically empowered to acquire the consulting resources and expertise deemed necessary to perform their responsibilities. The role of audit committees continues to evolve as a result of the passage of the Sarbanes-Oxley Act of 2002. Many audit committees also have oversight of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rule 1-02
Rule or ruling may refer to: Education * Royal University of Law and Economics (RULE), a university in Cambodia Human activity * The exercise of political or personal control by someone with authority or power * Business rule, a rule pertaining to the structure or behavior internal to a business * School rule, a rule that is part of school discipline * Sport rule, a rule that defines how a sport is played * Game rule, a rule that defines how a game is played * Moral, a rule or element of a moral code for guiding choices in human behavior * Norm (philosophy), a kind of sentence or a reason to act, feel or believe * Rule of thumb, a principle with broad application that is not intended to be strictly accurate or reliable for every situation * Unspoken rule, an assumed rule of human behavior that is not voiced or written down * Slide rule, a mechanical analog computer Science * Rule of inference or transformation rule, a term in logic for a function which takes premises and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generally Accepted Accounting Principles
Publicly traded companies typically are subject to rigorous standards. Small and midsized businesses often follow more simplified standards, plus any specific disclosures required by their specific lenders and shareholders. Some firms operate on the cash method of accounting which can often be simple and straight forward. Larger firms most often operate on an accrual basis. Accrual basis is one of the fundamental accounting assumptions and if it is followed by the company while preparing the Financial statements then no further disclosure is required. Accounting standards prescribe in considerable detail what accruals must be made, how the financial statements are to be presented, and what additional disclosures are required. Some important elements that accounting standards cover include: identifying the exact entity which is reporting, discussing any "going concern" questions, specifying monetary units, and reporting time frames. Limitations The notable limitations of accounting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sanctions (law)
Sanctions, in law and legal definition, are penalties or other means of enforcement used to provide incentives for obedience with the law, or with rules and regulations. Criminal sanctions can take the form of serious punishment, such as corporal or capital punishment, incarceration, or severe fines. Within the context of civil law, sanctions are usually monetary fines, levied against a party to a lawsuit or their attorney, for violating rules of procedure, or for abusing the judicial process. The most severe sanction in a civil lawsuit is the involuntary dismissal, with prejudice, of a complaining party's cause of action, or of the responding party's answer. This has the effect of deciding the entire action against the sanctioned party without recourse, except to the degree that an appeal or trial ''de novo'' may be allowed because of reversible error. As a noun, the term is usually used in the plural form, even if it only refers to a single event: if a judge fines a party, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Certified
Certification is the provision by an independent body of written assurance (a certificate) that the product, service or system in question meets specific requirements. It is the formal attestation or confirmation of certain characteristics of an object, person, or organization. This confirmation is often, but not always, provided by some form of external review, education, assessment, or audit. Accreditation is a specific organization's process of certification. According to the U.S. National Council on Measurement in Education, a certification test is a credentialing test used to determine whether individuals are knowledgeable enough in a given occupational area to be labeled "competent to practice" in that area. Types One of the most common types of certification in modern society is professional certification, where a person is certified as being able to competently complete a job or task, usually by the passing of an examination and/or the completion of a program of st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Terminology
Terminology is a group of specialized words and respective meanings in a particular field, and also the study of such terms and their use; the latter meaning is also known as terminology science. A ''term'' is a word, compound word, or multi-word expressions that in specific contexts is given specific meanings—these may deviate from the meanings the same words have in other contexts and in everyday language. Terminology is a discipline that studies, among other things, the development of such terms and their interrelationships within a specialized domain. Terminology differs from lexicography, as it involves the study of concepts, conceptual systems and their labels (''terms''), whereas lexicography studies words and their meanings. Terminology is a discipline that systematically studies the "labelling or designating of concepts" particular to one or more subject fields or domains of human activity. It does this through the research and analysis of terms in context for the pu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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