ACCOUNTING AND REVIEW SERVICES Definition

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ACCOUNTING AND REVIEW SERVICES are governed by official pronouncements covering compilation and review engagements. Compilation is presenting in the form of financial statements information that is the representation of management (owners) without expressing assurance. Review is inquiry and analytical procedures to provide the accountant a basis for expressing limited assurance that there are no material modifications that should be made to the statements for them to be in conformity with U.S. generally accepted accounting principles.

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MARKET PRICE (MARKET VALUE), for securities sold on an exchange, is the last reported price at which the securi­ties were sold. For securities sold over-the-counter (OTC), the current price of the securities in the market.

LTM means Last Twelve Months.

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