Examlex
What is a situation in which an individual is morally or ethically required to do something that conflicts with his or her immediate self-interest called?
GAAP
Widely Recognized Accounting Standards; a set of standard accounting practices and rules routinely adhered to for financial reporting purposes.
Fair Value Accounting
An accounting approach where assets and liabilities are recorded at their current market value, not just historical cost.
Valuation Allowance
An allowance against deferred tax assets indicating that it is more likely than not that some portion or all of the deferred tax asset will not be realized.
Trading Investments
Securities bought and held primarily for selling in the short term to profit from price differences.
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