Regulatory Accounting Procedures (RAP): Accounting principles required by the FHLB that allow S&Ls to elect annually to defer gains and losses on the sale of assets and amortize these deferrals over the average life of the asset sold.

 

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Regulatory Accounting Procedures (RAP): Accounting principles required by the FHLB that allow S&Ls to elect annually to defer gains and losses on the sale of assets and amortize these deferrals over the average life of the asset sold.

Price Change Accounting: Accounting for the value of assets, stock, raw materials etc. by their current market value instead of the more traditional Historic Cost .

Purchase Accounting: Method of accounting for a merger that treats the acquirer as having purchased the assets and assumed the liabilities of the acquiree, which are then written up or down to their respective f . . . View Full Definition

Reasonable Academic Progress (RAP): the South Carolina Lottery Tuition Assistance has its own academic progress standards called Reasonable Academic Progress (RAP). Students must satisfy the RAP requirements listed below in or . . . View Full Definition

Policy-Procedures Manual: A detailed written document designed to assist managers and supervisors in carrying out their day-to-day responsibilities by acquainting them with all of the organization's policies and the . . . View Full Definition

Real Estate Settlement Procedures Act (RESPA): A federal law, enacted in 1974 and later revised, that ensures that the buyer and seller in a real estate transaction have knowledge of all settlement costs when the purchase of a one-to-fou . . . View Full Definition

Management Accounting: The area of accounting concerned with providing internal financial reports to assist management in making decisions.

Generally Accepted Accounting Principles (GAAP): Authoritative guidelines that define accounting practice at a particular time.

Good Delivery And Settlement Procedures: A delivery in which everything - order-endorsement, any necessary attached legal papers.

Grievance Procedures: The process and guidelines to be followed by employees, management or the union when resolving differences or conflicts.