Securities Industry and Financial Markets Association (SIFMA)


An industry association that represents the interests of hundreds of securities firms, banks and asset managers. SIFMA is the U.S. regional member of the Global Financial Markets Association (GFMA).

Investing Essentials

Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Deferred tax expense

A non-cash expense that provides a source of free cash flow. Amount allocated during the period to cover tax liabilities that have not yet been paid.

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