An organization that supports worldwide excellence in accounting education, research and practice. The American Accounting Association is the primary professional association for accounting academics in the United States. Formed in 1916 under the name American Association of University Instructors in Accounting, it assumed its current name in 1936. It is a voluntary organization comprised of individuals interested in accounting education and research. |||The American Accounting Association publishes The Accounting Review - a journal of abstracts, articles and book reviews that promote accounting education, research and practice; Issues in Accounting Education - a publication of research, commentaries, instructional resources and book reviews to assist accounting faculty, and Accounting Horizons - which includes papers focusing on the study of integration and application. Members of the American Accounting Association have access to these publications and additional newsletters and opportunities to participate in regional and/or special interest groups.
A form of term life insurance that offers a guarantee of future insurability for a set period of years, although premiums are paid every year on the basis of a one-year contract. As such, the premiums will rise over time as the insured person ages. This type of insurance is designed for short-term insurance needs. |||Annual renewable term insurance is less common than level term insurance, where premiums stay constant over the life of the contract. The longer an insured person uses annual renewable term insurance, the more costly it becomes. ART insurance typically offers guaranteed re-insurability for a period of 10 to 30 years, depending on the age of the individual.
The effective annual rate of return taking into account the effect of compounding interest. APY is calculated by: The resultant percentage number assumes that funds will remain in the investment vehicle for a full 365 days. |||The APY is similar in nature to the annual percentage rate. Its usefulness lies in its ability to standardize varying interest-rate agreements into an annualized percentage number.For example, suppose you are considering whether to invest in a one-year zero-coupon bond that pays 6% upon maturity or a high-yield money market account that pays 0.5% per month with monthly compounding.At first glance, the yields appear equal because 12 months multiplied by 0.5% equals 6%. However, when the effects of compounding are included by calculating the APY, we find that the second investment actually yields 6.17%, as 1.005^12-1 = 0.0617.
The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan. This includes any fees or additional costs associated with the transaction. |||Loans or credit agreements can vary in terms of interest-rate structure, transaction fees, late penalties and other factors. A standardized computation such as the APR provides borrowers with a bottom-line number they can easily compare to rates charged by other potential lenders.By law, credit card companies and loan issuers must show customers the APR to facilitate a clear understanding of the actual rates applicable to their agreements. Credit card companies are allowed advertise interest rates on a monthly basis (e.g. 2% per month), but are also required to clearly state the APR to customers before any agreement is signed. For example, a credit card company might charge 1% a month, but the APR is 1% x 12 months = 12%. This differs from annual percentage yield, which also takes compound interest into account.
A mandatory yearly meeting of shareholders that allows stakeholders to stay informed and involved with company decisions and workings. |||This yearly meeting is the single event whereby shareholders are able to gather and ask the board of directors questions pertaining to corporate health and strategy. Proper notice must be given to shareholders with regards to meeting times and agenda.
Interest that is calculated under the assumption that any interest paid is combined with the original balance and the next interest payment will be based on the slightly higher account balance. Overall, this means that interest can be compounded several times in a year depending on the number of times that interest payments are made. In the United Kingdom, the amount of interest received from savings accounts is listed in AER form.Calculated as:Where:n = number of times a year that interest is paidr = gross interest rate |||For example, a savings account with a quoted interest rate of 10% that pays interest quarterly would have an annual equivalent rate of 10.38%. Investors should be aware that the annual equivalent rate will typically be higher than the actual annual rate calculated without compounding.
The third-largest stock exchange by trading volume in the United States. In 2008 it was acquired by the NYSE Euronext and became the NYSE Amex Equities in 2009. The AMEX is located in New York City and handles about 10% of all securities traded in the U.S. |||The AMEX name was first changed to NYSE Alternext US, then became known as NYSE Amex Equities. It used to be a strong competitor to the New York Stock Exchange, but that role has since been filled by the Nasdaq. Today, almost all trading on the AMEX is in small-cap stocks, exchange-traded funds and derivatives.
A savings account that earns tax deductible interest for medical expenses. Archer MSAs are often used by small business or self-employed individuals as a way to pay for healthcare services to employees. This type of account gets its name from Bill Archer, the congressman who helped create the MSA by sponsoring its amendment. |||An Archer MSA works much like an IRA. The account owner will make contributions and earn interest on the funds. The gains are tax-defered or tax free when withdrawn for medical expenses. If funds are removed for other reasons, a penalty may be incurred and taxes will usually apply.
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