COBOL Definition

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COBOL is Common Business Oriented Language.

Learn new Accounting Terms

RESTATEMENT OF FINANCIALS are sometimes required by the IRS when the IRS, through audit, determines that IRS rules were not followed; either lawfully or fraudulently. Such restatements usually have a negative effect on the financial results of the audited entity for the periods in question.

BANK BASE RATE is the annual interest rate on which British banks calculate lending charges (minimum lending rate).

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