What is the Government Accounting Standards Board (GASB)? The Government Accounting Standards Board (GASB) is a private organization non-governmental organization that creates accounting reporting standards, or generally accepted accounting principles (GAAP)for state and local governments in the United States. Key points to remember: The Government Accounting Standards Board (GASB) is a private, nongovernmental organization that…
Daily office wear jewelry for women are mostly lightweight and easy to wear. Generally, jewelry are delicate and suitable for work. One piece of jewelry for office that is easy to carry and looks lovely is a bracelet or a bangle. Even if you are going for 9 to 5 job or in a corporate,…
Charcoal mask is surely the latest trend popular in the beauty world. Not just women but men are also apparently impressed with charcoal face masks and packs, considering its immense benefits for all skin types. And when it comes to oily skin, it’s just amazing in getting rid of blackheads and breakouts on the face….
What is Spot Delivery Month? In the commodity futures markets, the spot delivery month is the earliest possible month in which the commodity underlying the futures contract will be deliverable. It is also known as month near or month ahead. The opposite of the spot delivery month is the month backwhich refers to the last…
What is a block grant? A block grant is an annual sum of money given by the federal government to a state or local government organization to help fund a specific project or program. These became official in the United States from 1966. This form of federal assistance is often associated with support for social…
What is the actuarial valuation? An actuarial valuation is a type of Evaluation of a pension fund’s assets to liabilities, using investment, economic and demographic aspects of the model to determine the level of funding of a pension plan. The assumptions are based on a mixture of statistical studies and experienced judgement. Since assumptions are…
What is asymmetric information? Asymmetric information, also known as “information failure”, occurs when one party to an economic transaction has greater material knowledge than the other party. This usually manifests itself when the seller of a good or service possesses greater knowledge than the buyer; however, the opposite dynamic is also possible. Almost all economic…
What is depreciable property? Depreciable property is any asset eligible for tax and accounting purposes to be recognized depreciation in accordance with Internal Revenue Service (IRS) rules. Depreciable property can include vehicles, real estate (excluding land), computers and office equipment, machinery and heavy equipment. Depreciable assets are long term assets. Key points to remember Depreciable…
Key points to remember EPS was $0.59 versus analysts’ expectation of $0.53. Revenues fell short of analysts’ expectations. Bond trading revenue was below analysts’ estimates. Equity trading revenue was above the level estimated by analysts. Net interest income decreased due to lower interest rates. What happened Bank of America reported mixed results for the fourth…