Generally Accepted Accounting Principles

Generally accepted accounting principles (GAAP) are the standard framework of guidelines for financial accounting used in any given jurisdiction; generally known as accounting standards or standard accounting practice. These include the standards, conventions, and rules that accountants follow in recording and summarizing and in the preparation of financial statements. Many businesses choose to "opt out" of GAAP practices as they operate on a cash basis, as opposed to an accrual basis. A comparison would be the way that most people balance their checkbooks: when a check is written, its amount is deducted from the total balance even though the funds have not yet left the account. Financial decisions made after the check is written are based on the balance after the check is deducted.

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Bond Listing

FMDQ OTC Securities Exchange provides an efficient platform for registration, listing, quotation and valuation of bonds. FMDQ through its trading and surveillance systems and and the publication of FMDQ Daily Quotations List has empowered the Nigerian sovereign bonds and other classes of bonds with price discovery, transparency and market integrity. Bonds listed and admitted on FMDQ are traded by its Dealing Members some of which act as primary dealers to the sovereign domestic bonds. FMDQ Dealing Members act as market makers to the Nigerian sovereign bonds and some other classes of bonds thereby providing trading liquidity to the Nigerian bond market. The OTC securities exchange is responsible for circa 100% of bonds traded in Nigeria. As part of its mandate to provide exceptional levels of information transparency, FMDQ provides continuous disclosure of relevant information on fixed income issues listed on its platform. This information includes amongst others – issue siz...

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Funds Listing

As a debt capital-focused securities exchange, FMDQ also provides a robust platform for the listing of Mutual and Exchange Traded Funds. Mutual Funds are investment vehicles operated by money managers, which typically pools funds from investors for the purpose of investing the funds in securities such as stocks, bonds, and money market instruments. They are also classified according to the types of securities invested in. Fixed Income Mutual Funds, which are focused primarily on investments in government and corporate bonds; and Money Market Mutual Funds (or Money Market Funds) which are focused on investments in short-term debt securities such as treasury bills and commercial papers, are permitted for listing and trading on FMDQ, in line with the provisions of the FMDQ Bond Listing and Quotation Rules. Exchange Traded Funds (ETFs) are marketable securities that track an index, a commodity, bond, or a basket of assets. Unlike mutual funds, ETFs are traded on an exc...

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List of IFRIC Interpretations

The IFRS Foundation provides free access (through Basic registration) to the PDF files of the current year's IFRIC ® Interpretations (Part A of the Issued Standards—the Red Book), as well as available translations of Interpretations. This section also provides high level and non-technical summaries for the Interpretations. The full Standards with all accompanying documents are available for Premium subscribers on eIFRS . For more information about what is provided for free and why, visit our unaccompanied Standards FAQ page . Interpretation name IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities IFRIC 2 Members’ Shares in Co-operative Entities and Similar Instruments IFRIC 4 Determining whether an Arrangement Contains a Lease IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds IFRIC 6 Liabilities arising from Participating in a S...

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