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…
Actuarial Valuation Definition
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…
Asymmetric Information Definition
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…
What Is Depreciable Property?
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,…
Bank of America Earnings: What Happened with BAC
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…
Cross-Listing Definition
Cross-listing, also known as dual listing or multiple listing, is a practice in which a company lists its shares on more than one stock exchange. This move enables companies to gain access…
Crypto Exchange Gemini Teases IPO
Cryptocurrency exchange Gemini may be considering a initial public offering (IPO). In a interview with Bloomberg, Cameron and Tyler Winklevoss, co-founders of the exchange, said they were open to the idea of…
Section 1341 Credit Definition
What is Section 1341 credit? Section 1341 Credit is a federal measure tax credit available to U.S. taxpayers who reported income in a previous year but had to repay that income because…
FinCEN Extends Comment Period for Controversial Crypto Rule
The Financial Crimes Network (FinCEN) has extended the comment period by 60 days for a controversial proposed rule it requires cryptocurrency businesses and banks to record and store customer identification details for…