Month: January 2020

The term distributable net income (DNI) refers to income allocated from a trust to its beneficiaries. Distributable net income is the maximum amount received by a unitholder or a beneficiary that is taxable. This figure is capped to ensure there is no instance of double taxation. Any amount above the DNI is, therefore, tax-free.

International Accounting Standards (IAS) are older accounting standards issued by the International Accounting Standards Board (IASB), an independent international standard-setting body based in London. The IAS were replaced in 2001 by International Financial Reporting Standards (IFRS).

A unitary thrift is a chartered holding company that controls a single thrift entity. Historically unitary thrifts could engage in a broader range of activities than bank holding companies, however they have come under increasing restrictions since the 2008 financial crisis.

International Accounting Standards (IAS) are older accounting standards issued by the International Accounting Standards Board (IASB), an independent international standard-setting body based in London. The IAS were replaced in 2001 by International Financial Reporting Standards (IFRS).

A unitary thrift is a chartered holding company that controls a single thrift entity. Historically unitary thrifts could engage in a broader range of activities than bank holding companies, however they have come under increasing restrictions since the 2008 financial crisis.

A loan is money, property, or other material goods given to another party in exchange for future repayment of the loan value or principal amount, along with interest or finance charges. A loan may be for a specific, one-time amount, or it can be available as an open-ended line of credit up to a specified limit.

A command economy is a system where the government, rather than the free market, determines what goods should be produced, how much should be produced, and the price at which the goods are offered for sale. It also determines investments and incomes. The command economy is a key feature of any communist society. Cuba, North Korea, and the former Soviet Union are examples of countries that have command economies, while China maintained a command economy for decades before transitioning to a mixed economy that features both communistic and capitalistic elements. read more

KYD is the currency abbreviation or currency symbol for the Cayman Islands dollar (KYD), the currency for the Cayman Islands. The Cayman Islands are a British Overseas Territory that includes Grand Cayman, Little Cayman, and Cayman Brac.

Unamortized bond premium refers to the amount between the face value and the amount the bond was sold at, minus the interest expense. It is what remains of the bond premium to be written off against expenses over the bond’s life. Unamortized bond premiums do not include any interest that has been amortized or written off.

An Investment Advisory Representative (IAR) refers to licensed and authorized personnel who work for investment advisory companies The primary responsibility of an IAR is to provide investment-related advice as a financial advisor or planner.