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What Is A Schumer Box

By Kenneth J. Benton, Consumer Regulations Specialist, Federal Reserve Bank of Philadelphia The Regulation Z amendments will be reviewed in two installments. In this issue, we will discuss the extensive changes to credit card application and solicitation disclosures under §226.5a of the regulation. In the Second Quarter 2009 issue, we will discuss the remaining changes …

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What Type Of Account Is Unearned Revenue

What happens when your business receives payments from customers before providing a service or delivering a product? Generally accepted accounting principles (GAAP), shaped and enforced by both the Securities and Exchange Commission (SEC) and Financial Accounting Standards Board (FASB), require companies to record prepayments as unearned revenue. What type of account is unearned revenue. what …

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