FOREIGN CORRUPT PRACTICES ACT Definition

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FOREIGN CORRUPT PRACTICES ACT (1977) is a United States federal law that is primarily known for its two main provisions: one that deals with accounting transparency requirements of issuers required to report under the Securities Exchange Act of 1934 and one that deals with bribery of foreign officials.

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ONEROUS CONTRACT is one in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits to be received under the contract.

LOAN STOCK is stock bearing a fixed rate of interest. Unlike a debenture, loan stock may or may not be secured.

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