STANDARD OF VALUE Definition

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STANDARD OF VALUE is the identification of the type of value being utilized in a specific engagement; e.g. fair market value, fair value, investment value.

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EQUITY ACCOUNTING is the practice of showing in a companys accounts the share of undistributed profits of another company in which it holds equity ownership (usually below 50%). The share of profit shown is usually equal to its share of the equity in the other company. The profit may not actually be paid over, but the equity holding company has a right to this share of the undistributed profit.

ABNORMAL EXPENSE see EXTRAORDINARY ITEMS.

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