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Financial Terms | |
Convention statement |
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Definition of Convention statementConvention statementAn annual statement filed by a life insurance company in each state where it does
Related Terms:CASH-FLOW STATEMENTA statement that shows where a company’s cash came from and where it went for a period of time, such as a year. Cash Flow statementA financial report that shows the movement in cash for a business during an accounting period. common-size income statementIncome statement that presents items as a percentage of revenues. Conventional mortgageA loan based on the credit of the borrower and on the collateral for the mortgage. Conventional pass-throughsAlso called private-label pass-throughs, any mortgage pass-through security not Conventional projectA project with a negative initial cash flow (cash outflow), which is expected to be Dates conventionTreating cash flows as being received on exact dates - date 0, date 1, and so forth - as ![]() End-of-year conventionTreating cash flows as if they occur at the end of a year as opposed to the date External Financial StatementsCorporate financial statements that have been reported on by an external independent accountant. financial reports and statementsFinancial means having to do with Financial reports or statementsThe Profit and Loss account, Balance Sheet and Cash Flow statement of a business. INCOME STATEMENTAn accounting statement that summarizes information about a company in the following format: Income StatementOne of the basic financial statements; it lists the revenue and expense accounts of the company. income statementFinancial statement that summarizes sales revenue Income statementA financial report that summarizes a company’s revenue, cost of income statementFinancial statement that shows the revenues, expenses, and net income of a firm over a period of time. Income statement (statement of operations)A statement showing the revenues, expenses, and income (the Income StatementsA financial statement that displays a breakdown of total sales and total expenses. mission statementa written expression of organizational purpose that describes how the organization uniquely meets its targeted customers’ needs with its products or services Notes to the financial statementsA detailed set of notes immediately following the financial statements in Official statementA statement published by an issuer of a new municipal security describing itself and the issue Pro forma financial statementsFinancial statements as adjusted to reflect a projected or planned transaction. Pro forma statementA financial statement showing the forecast or projected operating results and balance profit and loss statement (P&L statement)This is an alternative moniker Registration statementA legal document that is filed with the SEC to register securities for public offering. ReinstatementThis is the restoration of a lapsed life insurance policy. The life insurance company will require evidence of continuing good health and the payment of all past due premiums plus interest. Restatement of Prior-Year Financial StatementsA recasting of prior-year financial statements to remove the effects of an error or other adjustment and report them on a new basis. Statement billingBilling method in which the sales for a period such as a month (for which a customer also Statement of cash flowsA financial statement showing a firm's cash receipts and cash payments during a Statement of Cash FlowsOne of the basic financial statements; it lists the cash inflows and cash outflows of the company, grouped into the categories of operating activities, financing activities, and investing activities. The statement of Cash Flows is prepared for a specified period of time. statement of cash flowsOne of the three primary financial statements Statement of cash flowsPart of the financial statements; it summarizes an entity’s cash statement of cash flowsFinancial statement that shows the firm’s cash receipts and cash payments over a period of time. Statement-of-cash-flows methodA method of cash budgeting that is organized along the lines of the statement of cash flows. Statement of Financial Accounting Standards No. 52This is the currency translation standard currently Statement of Financial Accounting Standards No. 8This is a currency translation standard previously in statement of financial conditionSee balance sheet. Statement of retained earningsAn adjunct to the balance sheet, providing more detailed information about the beginning balance, changes, and ending balance in Statement on Management Accounting (SMA)a pronouncement developed and issued by the Management Statement Retained EarningsOne of the basic financial statements; it takes the beginning balance of retained earnings and adds net income, then subtracts dividends. The statement of Retained Earnings is prepared for a specified period of time. stockholders' equity, statement of changes inAlthough often considered values statementn organization’s statement that reflects its vision statementa written expression about the organization’s Accounting PoliciesThe principles, bases, conventions, rules and procedures adopted by management in preparing and presenting financial statements. 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