IMPAIRED GOODWILL is the recognition of the reduction in value of the intangible asset known as goodwill.
DIRECT FINANCING LEASE is one in which the lessor's only source of revenue is interest. The lessor (generally a bank or other financial institution) buys an asset and leases it to the lessee. This transaction is an alternative to the more customary lending arrangement in which a borrower uses the loan proceeds to purchase an asset. A direct financing lease is the functional equivalent of a loan.
FASTBAC is First Automotive Short-Term Bonds and Certificates; asset-backed securities supported by automotive loan contracts.
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