AUTOMATED MANIFEST SYSTEM (AMS) is a multi-modular cargo inventory control and release notification system. AMS is the electronic system allowing a manifest inventory to be transmitted to the US Customs Service data center by carrier, port authority or service center computers. AMS interfaces directly with Customs Cargo Selectivity and In-Bond systems, and indirectly with ABI, allowing faster identification and release of low risk shipments.
ENTITY CONCEPT is the concept that financial accounting and reporting relates only to the activities of a specific business entity and not to the activities of the owners of that entity.
FUTURES are contracts to buy or sell specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future.
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