REGULAR SETTLEMENT is 1) For short-term or U.S. Treasury securities, the settlement, or payment and delivery, is the next business day after the trade date. 2) For corporate notes, bonds and municipal securities, settlement is in five business days. 3) For mortgage-backed securities, settlement is after the 15th of the month. 4) For Eurodollar Certificates of Deposit, settlement is two business days after the trade date. Also known as "Regular Way.'
ACCOUNTING AND REVIEW SERVICES are governed by official pronouncements covering compilation and review engagements. Compilation is presenting in the form of financial statements information that is the representation of management (owners) without expressing assurance. Review is inquiry and analytical procedures to provide the accountant a basis for expressing limited assurance that there are no material modifications that should be made to the statements for them to be in conformity with U.S. generally accepted accounting principles.
BROWN BOOK is industry slang for Development of the Oil and Gas Resources of the United Kingdom; an annual report.
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