An organization dedicated to the development of financial expertise with respect to divorce. The Academy of Financial Divorce Practitioners trains its members in the financial aspects of divorce, such as alimony, property settlements, child support and retirement assets. Members of the academy, known as certified financial divorce practitioners (CFDPs), supply unbiased financial expertise to facilitate equitable divorce proceedings. |||The Academy of Financial Divorce Practitioners provides its members with two avenues of training. Prospective CFDPs may train in the classroom or undergo a self-study program. The academy also supplies its members with specialized software for financial planning.
A market indicator used to determine volatility levels in the market without factoring in price direction. It is calculated by taking the absolute value of the difference between the number of advancing issues and the number of declining issues. Typically, large numbers suggest volatility is increasing, which is likely to cause significant changes in stock prices in the coming weeks. |||This tool is classified as a breadth indicator because the advancing/declining values are the only values used to create it. This index can be calculated using any exchange or a subset of an exchange, but traditionally the New York Stock Exchange has been the accepted standard.
Formerly known as the American Association of Retired Persons, AARP is the nation's leading organization for people age fifty and older. Founded in 1958 by retired educator Dr. Ethel Percy Andrus, it is a nonprofit, nonpartisan association with a membership of 40 million. It provides information, education, research, advocacy and community services through a nationwide network of local chapters and experienced volunteers. It focuses its work on consumer issues, economic security, work, health and independent living issues, and engages in legislative, judicial and consumer advocacy in these areas. |||AARP is considered a powerful lobbying group as well as a successful business, selling insurance, investment funds and other financial products. It is also an independent publisher, offering Modern Maturity magazine and the monthly AARP Bulletin.
In a family of multi-class mutual funds, this is the class that is usually characterized by a loaded fee structure. Class A mutual fund units will commonly have a front- or rear-end load, to compensate for the sales person's commission. Not all fund companies follow this class structure; however, it is the prominent method of distinction. |||Typically, the class A fund has a lower management expense ratio compared to the other classes within the same family. This is due to the load that is added to the acquisition cost, or redemption.
A former organization under the Consultative Committee of Accountancy Bodies (CCAB) in the United Kingdom. The Accounting Standards Committee (ASC) duties included developing standards for financial reporting and accounting, recording these standards and communicating them through press releases and publications. It existed between 1976 and 1990 when its duties were assumed by the Accounting Standards Board (ASB). The committee was preceded by the Accounting Standards Steering Committee (ASSC). |||Accounting scandals in the late 1960s and early 1970s prompted the formation of the Accounting Standards Committee to issue accounting standards. In 1990, the Accounting Standards Board took over its responsibilities, which was then replaced by the International Accounting Standards Board (IASB) in 2001. The IASB issues accounting standards within the United Kingdom and collaborates with other countries' accounting standard-setters.
ARR provides a quick estimate of a project's worth over its useful life. ARR is derived by finding profits before taxes and interest. |||ARR is an accounting method used for purposes of comparison. The major drawbacks of ARR are that it uses profit rather than cashflows, and it does not account for the time value of money.
The collection, storage and processing of financial and accounting data that is used by decision makers. An accounting information system is generally a computer-based method for tracking accounting activity in conjunction with information technology resources. The resulting statistical reports can be used internally by management or externally by other interested parties including investors, creditors and tax authorities. |||An accounting information systems that combines traditional accounting practices such as the Generally Accepted Accounting Principles (GAAP) with modern information technology resources. Six elements compose the typical accounting information system: People - the system users. Procedure and Instructions - methods for retrieving and processing data. Data - information pertinent to the organization's business practices. Software - computer programs used to process data. Information Technology Infrastructure - hardware used to operate the system. Internal Controls - security measures to protect sensitive data.
A not-for-profit organization that was established to maintain and promote Shariah standards for Islamic financial institutions, participants and the overall industry. The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) was created on February 26, 1990 to ensure that participants conform to the regulations set out in Islamic finance.The founding and associate members, as well as the regulatory and supervisory authorities of the AAOIFI, define the acceptable standards for various functions. This includes areas such as accounting, governance, ethics, transactions and investment. |||In Islamic finance there are unique rules, restrictions and requirements regarding business and investing. In order to be considered acceptable, transactions must adhere to the principals under Shariah. The Accounting and Auditing Organization for Islamic Financial Institutions sets compliance standards for institutions that wish to gain access to the Islamic banking market.The AAOIFI is continually updating its scope to include the various new financial instruments entering markets around the world. For example, new hedging mechanisms would first need to be discussed and accepted by the AAOIFI before any member would offer these services.