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The Essentials of Finance and Accounting for Nonfinancial Managers, 3rd Edition by Edward Fields

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Glossary

10-K The annual report that every issuer of public securities, every company whose stock is listed on any stock exchange, and any company with 500 or more shareholders must submit to the Securities and Exchange Commission. The 10-K is similar to the annual report that every shareholder receives; it contains a complete set of financial statements and more backup detail, but no photographs or “public relations” –type information.

Accelerated Cost Recovery System (ACRS) A depreciation methodology prescribed by the Internal Revenue Service. It has been modified a number of times since it was first introduced; the version currently prescribed is known as the Modified Accelerated Cost Recovery System (MACRS). It shortens the depreciable lives ...

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