Statement Of Standard Accounting Practice (SSAP) Financial Glossary
What is it? Recommendations on the way we need to treat certain items in our accounts.Finance Term Definition Added By: Steven
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Other Similar Finance Terms:
Financial Term Annual Exclusion is The amount of money or property (currently $10,000 for an individual and $20,000 for a married couple) that may be given as a gift to a recipient each year without incurring a gift tax. The amount will be indexed for inflation after 1998.Financial Term Credit Card is A plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services on credit. Also called charge card. A card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered.
Financial Term Operating profit (adjusted) is Operating profit (reported) minus exceptional items
Financial Term Chattel mortgage is A pledge of personal property as security for a debt. Also called a security interest or financing statement. For this survey, not a mortgage.
Financial Term NonDischargeable Debts is Debts that cannot be erased through bankruptcy. Examples of non-dischargeable debts include alimony, child support, many student loans, and most income tax debts. Compare to dischargeable debts.