APPLICABLE FINANCIAL REPORTING FRAMEWORK Definition

Bookmark and Share

APPLICABLE FINANCIAL REPORTING FRAMEWORK is the financial reporting framework adopted in the preparation of the financial statements that is acceptable in
view of the nature of the entity and the objective of the financial statements, or that is required by law or regulation.

Learn new Accounting Terms

FLOAT is 1. the time between the deposit of checks in a bank and when the amount is truly accessible; 2. the amount of funds represented by checks that have been written but not yet presented for payment. Some entities will play the float by writing checks although there are insufficient funds actually on deposit to cover the checks; and, 3. total shares outstanding less any shares held by officers, directors or beneficial owners of 10% or more. Also called publicly held shares.

CONSOLIDATED CAPITAL is the value of all money and other assets, on a consolidated basis, used directly in business operations.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.