Other Comprehensive Basis Of Accounting (OCBOA)

Other Comprehensive Basis Of Accounting (OCBOA),

Other Comprehensive Basis Of Accounting (OCBOA) means,

  • Definition of Other Comprehensive Basis Of Accounting (OCBOA): Other Comprehensive Accounting Bases (OCBOAs) include financial statements prepared using a non-GAAP accounting system, the most common of which are taxable statements and financial statements. Other Comprehensive Accounting Base Systems (OCBOAs) include basic legal accounting principles, such as those used by insurance companies to comply with state insurance commission rules, as well as financial statement standards that are well supported by popular literature. Is available

    • The Generally Accepted Accounting Principles (GAAP) is a method of preparing financial statements based on the principles issued by the Financial Accounting Standards Board (FASB). US public companies must comply with GAAP.
    • The Other Comprehensive Accounting Base (OCBOA) is a non-GAAP accounting protocol used to prepare annual financial statements.
    • Examples of OCBOA are income tax accounting, cash accounting and modified cash accounting.
    • Claims made under OCBOA are easier to analyze than claims made under GAAP and often cost more to make.
    • OCBOA does not require a cash flow statement as compared to GAAP and it is assumed that there is insufficient information.

Literal Meanings of Other Comprehensive Basis Of Accounting (OCBOA)

Other:

Meanings of Other:
  1. Seeing or treating (a person or group of people) is naturally different and alien.

  2. Someone or something else is or is different from what was mentioned.

  3. An extra person or something like that has already been mentioned

  4. One who is different, different or opposite to something or to himself.

  5. Identify someone or something that is different or different from what was mentioned or known.

  6. Make up

Sentences of Other
  1. Attach the camera to a tripod or other support.

  2. More tips

Synonyms of Other

further, supplementary, extra, supplemental, more, added, additional

Comprehensive:

Meanings of Comprehensive:
  1. A high school that accepts children of all levels in a given area.

  2. Complete by including all or almost all the elements or aspects of an object.

  3. It is about understanding.

Sentences of Comprehensive
  1. Training to become an accountant after leaving the company

  2. Full list of sources

Synonyms of Comprehensive

diversified, wide, broad-based, diverse, indiscriminate, eclectic, broad

Basis:

Meanings of Basis:
  1. Support or justify an idea, argument or action.

Sentences of Basis
  1. Trust is the only basis for good cooperation

Synonyms of Basis

kernel, foundation, cause, origin, base, centre, source, root, core, starting point, heart, basis

Of:

Meanings of Of:
  1. It shows the relationship between the part and the whole.

  2. Indicates the relationship between scale or size and value.

  3. Refers to the relationship between two organizations, usually the organization of the association.

  4. This shows the relationship between the address and the waypoint.

  5. It represents the relationship between a general type or type and something special belonging to that category.

  6. After a noun that comes from or is related to an action.

  7. Identify the component or substance that makes the difference.

  8. Express the hour for the next hour.

Sentences of Of
  1. 5% increase

  2. North of Chicago

  3. Nice to meet you.

  4. In New York, only a quarter to three

Synonyms of Of

by, in, done by, made by, of, caused by, from, carried out by

Accounting:

Meanings of Accounting:
  1. The process or process of restoring financial accounts.

Sentences of Accounting
  1. Alleged investigation of illegal accounting

Synonyms of Accounting

economics, accounting, pecuniary matters, investment, money management, money matters, fiscal matters, commerce, financial affairs, banking, business