Definition of Ethics

Ethics

Standards of conduct or moral judgement.

Committee, AIMR Performance Presentation Standards Implementation Committee

The Association for Investment Management and Research (AIMR)'s Performance Presentation Standards Implementation
Committee is charged with the responsibility to interpret, revise and update the AIMR Performance
Presentation Standards (AIMR-PPS(TM)) for portfolio performance presentations.

Moral hazard

The risk that the existence of a contract will change the behavior of one or both parties to the
contract, e.g. an insured firm will take fewer fire precautions.

Statement of Financial Accounting Standards No. 8

This is a currency translation standard previously in
use by U.S. accounting firms. See: Statement of Accounting Standards No. 52.

Statement of Financial Accounting Standards No. 52

This is the currency translation standard currently
used by U.S. firms. It mandates the use of the current rate method. See: Statement of Financial Accounting
Standards No. 8.

Cost Accounting Standards Board (CASB)

a body established by Congress in 1970 to promulgate cost accounting
Standards for defense contractors and federal agencies; disbanded
in 1980 and reestablished in 1988; it previously issued
pronouncements still carry the weight of law for those
organizations within its jurisdiction

Contract Work Hours and Safety Standards Act

A federal Act requiring federal contractors to pay overtime for hours worked exceeding 40 per week.

Fair Labor Standards Act of 1938

A federal Act creating Standards of overtime
pay, minimum wages, and payroll recordkeeping.

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