ASRB Definition

Bookmark and Share

ASRB is Accounting Standards Review Board.

Learn new Accounting Terms

INTANGIBLE ASSET is an asset that is not physical in nature. Examples are things like copyrights, patents, intellectual property, or goodwill. An intangible asset is the opposite of tangible asset.

LETTER OF CREDIT (LOC) is a legal document issued by a buyer's bank that upon presentation of required documents payment would be made. Usually confirmed by the sellers bank, protection is given to the seller that payment will be made if the goods are shipped correctly, and protection is given to the buyer that the goods will be shipped before payment is made.

Suggest a Term

Enter Search Term

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