What Are the Big Four? The “Big Four” is the nickname for the four largest accounting firms in the United States, as measured by revenue. They are Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), and Klynveld Peat Marwick Goerdeler (KPMG). Aside from auditing services, the Big Four offer tax, strategy and management consulting, valuation, market research
What Is a Beneficial Owner? A beneficial owner is a person who enjoys the benefits of ownership even though the title to some form of property is in another name. It also means any individual or group of individuals who, either directly or indirectly, has the power to vote or influence the transaction decisions regarding
What Is a Beneficiary? A beneficiary is a person (or entity) who is designated to receive the benefits of property owned by someone else. Beneficiaries often receive these benefits as part of an inheritance. A beneficiary can be designated in the documents relating to a life insurance policy, a retirement account, a brokerage account, a
What Is a Beneficiary Clause? A beneficiary clause is a provision in a life insurance policy or other investment vehicle such as an annuity or individual retirement account (e.g., an IRA), that permits the policy owner to name individuals as primary and secondary beneficiaries. Key Takeaways The beneficiary clause in a financial product or contract designates
What Is the Benefit Allocation Method? Some companies that offer retirement pensions to their employees choose to fund them through the benefit allocation method. In this system, employees contribute a portion of their salaries to the fund while the company makes a single annual payment. That payment may be a fixed dollar amount or a
What Is the Benefit-Expense Ratio? The insurance industry uses the benefit-expense ratio to describe the proportion of money taken in by a company compared to the amount paid out in claims. It is a crucial operating metric calculated by dividing a company’s costs associated with providing insurance coverage by the revenues from premiums charged for that coverage. It is
What Is a Benefit Period? A benefit period is the length of time during which an insurance policyholder or their dependents may file and receive payment for a covered event. All insurance plans will include a benefit period, which can vary based on policy type, insurance provider, and policy premium. Most individuals are familiar with the benefit period for healthcare
What Is a Benefits Payable Exclusion? A benefits payable exclusion is a clause in insurance policy contracts that removes the insurer’s responsibility for paying claims related to employee benefits. Specifically, the clause protects the insurer from paying for benefits that could otherwise be paid from an alternative source, such as the employer’s pension plan. Key
What is the Benefits Received Rule The Benefits Received Rule, or benefits received principle, may take one of two related definitions: one as a tax theory; and one as a tax provision. The two definitions are: The Benefits Received Principle, which is a theory of income tax fairness that says people should pay taxes based on the
Benjamin Graham was an influential investor whose research in securities laid the groundwork for in-depth fundamental valuation used in stock analysis today by all market participants. His famous book, The Intelligent Investor has gained recognition as the foundational work in value investing. Key Takeaways Benjamin Graham was an English-born investor and researcher whose work provided the
