NET OPERATING LOSS (NOL) is experienced by a business when business deductions exceed business income for the fiscal year. For income tax purposes, a net operating loss can be used to offset income in a prior year, or a taxpayer can elect to forego the carry back and carry the net operating loss forward.
EXTENSION SWAP is selling one security and purchasing another security with a longer maturity date to improve yield.
CONTROLLER is usually an experienced accountant who directs internal accounting processes and procedures, including cost accounting.
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