What is the HM Revenue and Customs (HMRC)? The HM Revenue and Customs (HMRC) is a department of the United Kingdom responsible primarily for regulating taxes, wages, child benefits, and other elements of the financial sector. His Majesty’s Revenue and Customs is the United Kingdom’s tax authority. The HMRC was established following the “merger” of…
What are Net Foreign Assets (NFA)? Net Foreign Assets (NFA) refer to the net amount of foreign assets that a country owns or the total value of a country’s foreign assets minus the total value of assets within a country that are owned by foreigners. They indicate whether a country is a net creditor or…
What is the Singapore Dollar (SGD)? The Singapore dollar (SGD) is the official legal currency issued by the Southeast Asian sovereign island nation, the Republic of Singapore. Its dollar denominations are commonly designated with the symbol S$ to distinguish it from other dollar currencies such as the US dollar and Canadian dollar. Singapore dollar coins…
What is South African Rand (ZAR)? South African Rand refers to the legal currency of the Republic of South Africa. It is also recognized as a legal currency in the Common Monetary Area that it shares with Lesotho, Namibia, and Eswatini, although each country in the monetary union also uses its own currency. The word…
What is the Kuwaiti Dinar (KWD)? Kuwaiti Dinar is the legal tender of the State of Kuwait, an oil-rich nation in the Middle East that is surrounded by Iraq and Saudi Arabia. The dinar is divided into 1,000 “fils.” Kuwait’s population comprises 70% expatriates. Of the country’s roughly 4.5 million residents, only a little over…
What is Thai Baht (THB)? Thai Baht is the official legal currency of the Kingdom of Thailand (formerly Siam). For coinage, the baht is divided into 100 satangs (comparable to cents in Canadian or US dollars). The baht is denoted with the symbol ฿. Thailand’s central bank, the Bank of Thailand, authorizes all minting of…
What is SEC Yield? The SEC yield, also referred to as the standardized yield, is a computation that allows comparison of bond funds that fall under the jurisdiction of the Securities and Exchange Commission (SEC). It assumes that an investor holds each bond in a portfolio to maturity, the SEC yield is used to estimate…
What is a Shutdown Point? A shutdown point is an operating level where a business does not benefit in continuing production operations in the short run when revenue from selling their product is unable to cover variable costs of production. The shutdown point represents a point where a firm will incur higher and increasing losses…
What is an Advance Rate? An advance rate is a percentage of the collateral’s value, reflecting the maximum loan amount that a lender is willing to extend to a borrower. The advance rate is a lending risk assessment ratio used to determine the maximum loan value a borrower can secure, given the pledged collateral value….
What is a Bill-and-Hold Arrangement? A bill-and-hold arrangement is a revenue recognition method in which revenue is recorded before the delivery of goods. It involves the recognition of revenue prior to the shipment of goods to the buyer. As such, a bill-and-hold arrangement is considered a controversial revenue recognition method due to the ease of manipulating…
