CONSORTIUM Definition

Bookmark and Share

CONSORTIUM is an association of companies for some definite purpose.

Learn new Accounting Terms

LATIN AMERICAN MODEL is an accounting model. There are other accounting systems which differ from the U.S. accounting model. U.S. GAAP and FASB standards are not the only accounting principles used internationally; for example, many countries reverse the U.S. debit and credit system. Many countries with high rates of inflation account for inflation in financial reports much more than the U.S. does. Also, for any company operating internationally there is the currency exchange translation problem when consolidating financial statements.

COST is the amount of money that must be paid to take ownership of something; expense or purchase price.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.