There is no standard way to perform an account reconciliation. However,generally accepted accounting principles (GAAP)requiredouble-entry bookkeeping—where a transaction is entered into the general ledger in two places. Every financial transaction is posted as a credit and a debit. When a business ...
FTX Exchange ran two trading arms: FTX, an international Bahamas-based platform, and FTX US, a separate U.S. affiliate where only U.S. residents could trade. In early November 2022, FTX, FTX US, and companies in their orbit unraveled from asteep fall from grace. Former FTX CEOSam Bankm...
What does having a warranty mean? A warranty is a legal guarantee that provides assurance to the consumer against the seller or manufacturer of a good in the event the item does not meet certain standards. Manufacturers must also comply with federal and state laws. ...
What does the Federal Trade Commission (FTC) do? What role, according to Lawrence Klein, has the state played, if any in the creation of monopolies? In economic terms, what is it called when you have a public-owned asset, such as an airport, treat it like a monopoly, and charge the ...
That sounds good (if you don’t like “Washington,” that is), but what does it mean? McConnell wants people to think that their tax dollars go to feed some animal named “Washington,” and therefore our budget problems can be solved by simply feeding Washington less — without “taxpayers...
So does Mike. Stephen King writes about ordinary things: dogs, cats, small towns, the girl next door, cars. The kind of things we can all relate to. So does Mike. Oh sure, you may not play high-stakes politics in Washington or whatever, but that’s not what’s at the heart of ...
Sarbanes-Oxley Act (SOX):SOX requires organizations to retain financial and accounting records for a minimum of seven years. SOX also requires organizations to securely dispose of these records when they are no longer needed. Federal Trade Commission Act (FTC):The FTC requires organizations to reta...
As a matter of fact, today an off-the-shelf, universal and workable definition of sustainable finance does not exist. Neither does it exist for the different families of sustainable finance securities, products or services available in the market. Guidelines have emerged and consolidated in the ...
It’s odd. Really odd. If you notice my interaction with people I have NEVER raised the question of “qualifications.” Does the person know the material, yes or no? In this day where there is easy access to any topic, I am not only un-impressed by the Appeal To Authority, I get ...
A home is such a big purchase that you’ll likely need to borrow money in order to close the deal. But how does a mortgage work? And what does it mean to “build equity in your home” as you pay down your mortgage? Let’s take a look at the basics of mortgages, how they work...