OTHER COMPREHENSIVE BASIS OF ACCOUNTING Definition

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OTHER COMPREHENSIVE BASIS OF ACCOUNTING (OCBOA) means a definite set of criteria, other than accounting principles generally accepted in the United States of America or International Financial Reporting Standards (IFRSs), having substantial support underlying the preparation of financial statements prepared pursuant to that basis.

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BENEFICIAL OWNER is the person who enjoys the benefits of ownership even though title is in another name (often used in risk arbitrage).

CORRESPONDENT BANK is a bank having communications and business links with the sellers bank.

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