CIRCA means about or approximately. It is used before a year, e.g. circa 2008.
VALUATION ALLOWANCE/RESERVE is an allowance to provide for changes in the value of a companys assets, such as depreciation or if an asset is deemed impaired.
SUBCHAPTER S is a legal corporate entity organized under the United States Federal Tax Code that allows Subchapter S Corporations to distribute all income / loss proportionately to its shareholders, who then claim that income / loss on their personal income taxes; thereby avoiding the payment of corporate taxes.
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