What Is Annual? The term “annual” refers to an event that occurs once a year. In the financial industry, annual events or reports may include taxes, shareholder meetings, and corporate filings such as a 10-K statement. These types of announcements are in contrast to those reported quarterly, such as a 10-Q or dividend payments. Other
What Is an Annual Mortgage Statement? An annual mortgage statement is a statement sent to a mortgagor by the mortgagee’s servicer. The statement typically indicates the interest paid on a mortgage, the current mortgage balance, the current interest rate, the term of the loan, the amount remaining on the mortgage term, the escrowed taxes and/or
What Is the American Institute of Certified Public Accountants (AICPA)? The American Institute of Certified Public Accountants (AICPA) is a non-profit professional organization representing certified public accountants (CPA) in the United States. Key Takeaways The American Institute of Certified Public Accountants (AICPA) is a non-profit professional organization representing certified public accountants (CPA) in the United
What Is the American Insurance Association (AIA)? The American Insurance Association (AIA), incorporated in 1866, was a leading property and casualty insurance (P&C) trade organization. In early 2019, the AIA merged with the Property Casualty Insurers Association of America (PCI) to form the American Property Casualty Insurance Association (APCIA). The P&C insurance industry is considered
What Is the American Land Title Association (ALTA)? The American Land Title Association (ALTA) is a trade association representing the title insurance industry. Founded in 1907, the ALTA also focuses on a property’s abstract of title, which ties the history of the title to a particular piece of real estate. The organization seeks to improve
What Is the American Opportunity Tax Credit (AOTC)? The American Opportunity Tax Credit (AOTC) is a tax credit for qualified education expenses associated with the first four years of a student’s postsecondary education. The maximum annual credit is $2,500 per eligible student. The student, someone claiming the student as a dependent, or a spouse making
What Is an American Option? An American option, aka an American-style option, is a version of an options contract that allows holders to exercise the option rights at any time before and including the day of expiration. It contrasts with another type of option, called the European option, that only allows execution on the day
What is the American Petroleum Institute? The American Petroleum Institute (API) is a trade association representing the oil and gas industry. It is focused on influencing public policy and lobbying Congress, the executive branch of government, state governments and media. It negotiates with regulatory agencies and represents the industry in legal proceedings. API has more
What Is the American Recovery and Reinvestment Act (ARRA)? The American Recovery and Reinvestment Act of 2009 (ARRA) was a piece of fiscal stimulus legislation passed by the U.S. Congress in response to the Great Recession of 2008. It is more commonly known as the “stimulus package of 2009” or simply the “Obama stimulus.” The
What Is the Americans With Disabilities Act Amendments Act of 2008 (ADAAA)? The Americans with Disabilities Act Amendments Act of 2008 (ADAAA) was legislation passed in September 2008 and effective January 1, 2009, that expanded the population that is considered disabled under the Americans with Disabilities Act (ADA). The ADAAA made significant changes to the
