ACCOUNTING PACKAGE/SOFTWARE Definition

ACCOUNTING PACKAGE/SOFTWARE, usually, is a commercially available software program or suite that, with little customization, will satisfy the accounting system needs of the purchasing entity.

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BOOK PROFIT see BOOK INCOME.

FLOATING-RATE CMO is a collateralized mortgage obligation with a variable interest rate, usually reset quarterly, and set at a basis point spread over LIBOR. Also known as: Continuously Offered Long-Term Securities (COLTS), Floating Interest Rate Short-Term Securities (FIRSTS), Home Owner Mortgage Eurosecurities (HOMES), Option to Purchase or Sell Specific Mortgage-Backed Securities (OPOSSMS).

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