Department of English & Foreign Languages. The Department of English shares a broad objective with other departments in the School of Humanities and Social Sciences: to teach the skills which will enable you to interpret, evaluate, and, in your own way, change your world.
In short, GAAP requires accrual accounting rather than cash accounting, because the accrual basis better fits the defined objectives of the Financial Accounting Standards Board (FASB). Accrual accounting requires companies to record transactions in the time period in which financial events occur.
1 U.S. financial institutions (USFIs) and other types of U.S. withholding agents are required to withhold 30% on certain U.S. source payments made to foreign entities, if they are unable to document such entities for purposes of FATCA. A USFI may register as a sponsoring entity for FFIs and agree to perform, on behalf of the FFI, all the FATCA activities that the FFI otherwise would have to do. 2  A USFI may register as a Lead FI to manage the FATCA registration process for members of its Expanded Affiliated Group of FFIs.