ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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TOP DOWN Definition
TOP DOWN is a concept of analyzing a subject, such as costs or revenue, starting from the highest level working towards the bottom.
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CASH BILL is a documented receipt of cash payment as opposed to an invoice or promise to pay.
IMMUNIZED PORTFOLIO is a portfolio structured such that the duration equals the duration of the investor's liabilities. The assets in the portfolio are structured to match the volatility of the investor's liabilities, thereby significantly reducing exposure to interest rate risk.