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U.S.GAAP
A set of accounting standards and principles provided by the Financial Accounting Standards Board (FASB) for companies in the United States, ensuring transparency and consistency in financial reporting.
Inventory
Assets held for sale in the ordinary course of business, in the process of production for such sale, or in the form of materials or supplies to be consumed in the production process or rendering of services.
FIFO Firms
FIFO (First-In, First-Out) firms refer to businesses that use the FIFO accounting method to manage inventory, implying that the first items purchased are the first ones sold.
Realized Holding Gains
Gains that are recognized when assets such as investments are actually sold for more than their cost, reflecting actual rather than potential profit.
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