What Is Severance Tax? Severance tax is a state tax imposed on the extraction of non-renewable natural resources that are intended for consumption in other states. These natural resources include such as crude oil, condensate and natural gas, coalbed methane, timber, uranium, and carbon dioxide. Understanding Severance Tax Severance tax is charged to resource producers
What Is a Severance Package? A severance package is a bundle of pay and benefits offered to an employee upon being laid off from a company. The receipt of a severance package is contingent upon signing a severance agreement. The amount of money received is usually based on the length of employment prior to termination and
What Is a Special Economic Zone (SEZ)? A special economic zone (SEZ) is an area in a country that is subject to different economic regulations than other regions within the same country. The SEZ economic regulations tend to be conducive to—and attract—foreign direct investment (FDI). FDI refers to any investment made by a firm or individual in one country into business
What Is Statement of Financial Accounting Concepts? The Statement of Financial Accounting Concepts (SFAC) was a document issued by the Financial Accounting Standards Board (FASB) covering broad financial reporting concepts. FASB is the organization that sets down the accounting rules and guidelines that make up Generally Accepted Accounting Principles (GAAP). The purpose of the SFAC
What Is a Statement of Financial Accounting Standards (SFAS)? Statements of Financial Accounting Standards (SFAS), published by the Financial Accounting Standards Board (FASB), provided guidance on a specific accounting topic, until 2009. SFAS laid the guidelines for accounting standards in the U.S. These SFAS were published in an effort to update the accounting industry on
What Is the Series 30? The Series 30 exam, also known as the NFA Branch Managers Examination, is a financial examination for professionals wishing to become branch managers for commodities futures trading firms. It is created by the National Futures Association (NFA) and is administered by the Financial Industry Regulatory Authority (FINRA). Key Takeaways The
The Series 34 is an exam and license required for individuals seeking to engage in off-exchange forex transactions with retail customers. It is part of the registration and certification process for most forex managers, dealers, and intermediaries. Breaking Down Series 34 The Series 34 Exam, also known as the Retail Off-Exchange Forex Examination, is a
What Is the Series 4? The Series 4 is an exam and securities license entitling the holder to supervise options sales personnel and compliance issues. It covers topics such as options strategies, foreign exchange options and taxation. Before taking the Series 4 Exam, a candidate must have a Series 7 license. Key Takeaways The Series
What Is the Series 51 Exam? The Series 51 is a financial exam for professionals wishing to sell municipal fund securities or oversee the sale of such securities. The exam’s full name is the Municipal Fund Securities Limited Principal Qualification Examination, and it is jointly overseen by two financial regulators: the Financial Industry Regulatory Authority
What Is Series 52? The Series 52 is a professional license and certification that qualifies a financial professional to transact municipal securities. It is known as the Municipal Securities Representative Qualification Examination. The exam consists of 75 scored questions. Candidates are given two hours and 30 minutes to complete the exam. The passing score is
