BULL MARKET Definition

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BULL MARKET is a period of rising share prices; an optimistic state of affairs.

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INDEX OF LEADING ECONOMIC INDICATORS is compiled by the U.S. Commerce Department and is a composite of 12 economic measurements.

FRS 19  is a deferred tax standard. In summary:

A. Deferred tax is provided on timing differences relating to: - accelerated capital allowances and depreciation
- accruals for and payments of pension and other post retirement benefits
- the elimination of unrealized intra group profits
- unrelieved tax losses
- "fair value revaluations" that are taken annually to the profit and loss account
- other short-term timing differences

B. Deferred tax is not provided on timing differences relating to: - other fixed asset revaluations, where there is no intention to sell
- gains that are rolled over
- unremitted overseas earnings, where there is no intention to remit.

The FRS 19 Standard also includes further, detailed measurement and disclosure rules.

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