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Why is the response time more rapid for the Financial Standards Board (FASB) in the U.S. who issue Statements of Financial Accounting Standards (SFAS) than the CICA AcSB who take as much as two years to bring new Handbook Recommendations to fruition.
Cumulative Gross Earnings
The total gross income earned by an individual or entity before any deductions over a given period.
State Tax Rate
The percentage at which individuals or businesses within a state are taxed by the state government.
FICA
The Federal Insurance Contributions Act; a U.S. law that requires a deduction from paychecks to fund Social Security and Medicare benefits.
OASDI
The Old-Age, Survivors, and Disability Insurance program, part of the U.S. Social Security system, providing benefits to eligible retirees, their families, and the disabled.
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