A written statement that is served by an entity’s management to its auditors with the purpose of confirming certain matters...

It stands for date of initial recognition; the reference date (initial recognition) that is used to assess and determine a...

The reference date (initial recognition) that is used to assess and determine a significant increase in credit risk (SICR). This...

In accounting, GL stands for general ledger; a bookkeeping ledger in which accounting figures (related to transactions and events) are...

It stands for statement of financial position; previously known as balance sheet, it is a detailed projection of the assets,...

A company whose shares trade on an exchange or over-the-counter (OTC), being available for any investor to buy or sell...

Gains that arise from an increase in the value of an asset that has not been sold or a decrease...

A type of non-controlling interest (NCI) that is contingent upon occurrence or fulfillment of certain criteria. In other words, it...

A type of non-controlling interest (NCI) that is contingent upon occurrence or fulfillment of certain criteria. In other words, it...

The original value (basis) of an asset for tax purposes. The cost basis is usually determined as the purchase price...