BOND PREMIUM Definition

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BOND PREMIUM is the excess of the issue price over the face value of the bond.

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GROSS SALES is the total revenue at invoice value prior to any discounts or allowances. See also GROSS REVENUE.

NOT-FOR-PROFIT ACCOUNTING is the adherence to NFP ACCOUNTING STANDARDS. These standards are established by the Financial Accounting Standards Board (FASB) or the Government Accounting Standards Board (GASB). Additionally, the American Institute of Certified Public Accountants (AICPA) influences the accounting for nonprofit organizations with its industry and accounting guides and Statements of Position (SOPs).

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