A professional who applies statistics and probability theory to advise on insurance risks, pricing of contracts, and administration of pension funds, regulated by the Institute and Faculty of Actuaries in the UK.
A consolidated cash-flow statement provides a comprehensive overview of cash inflows and outflows from a group of entities, combining individual cash-flow statements subject to various consolidation adjustments for accurate financial reporting.
The Direct Method is an accounting approach for preparing a cash-flow statement by aggregating operating cash receipts and payments to demonstrate the net cash flow from operating activities.
International Accounting Standards (IAS) are issued by the International Accounting Standards Board (IASB) to standardize accounting principles and procedures across different countries to enhance comparability and transparency in financial statements.
A method of translating foreign currency transactions by utilizing the exchange rate on the transaction date. Generally used for items not classified as foreign currency monetary items or those not measured at fair value.
