EUP (Energy Use in Products):An EU directive that requires companies to
design products to use less energy.European Directive on Data Protection:One of the first and most important
pieces of data privacy legislation that specifically addresses Internet privacy.export:To send or transport merchandise out of a country, especially for
trade or sale.fair market value:The price at which merchandise is sold in the manufac-
turer’s home market.FASB (Financial Accounting Standards Board): The official rulemaking body
in the accounting profession.FCPA (Foreign Corrupt Practices Act):A U.S. law enacted in 1977 but
increasingly enforced in the 1980s and 1990s. Cases brought under the act
doubled between 2006 and 2007. Under the act, companies can be prosecuted
for their business partners’ corrupt practices such as, bribing local officials.
It includes anti-bribery provisions as well as provisions relating to the
accounting of partner firms, both in terms of internal accounting controls
and the keeping of books and records.Federal Trade Commission:An agency of the U.S. government that promotes
fair trade. Among other things, the FTC enforces antitrust regulations and
educates the public about identity theft.financial compliance:Compliance relating to accounting-related laws
such as Sarbanes-Oxley. Other types of compliance include global trade
compliance and environmental compliance.financial risks:Relating to the effect of external factors such as credit,
foreign exchange rates, interest rates, and other market events.fraud:Intentional deception for unlawful gain. Fraud is difficult to prosecute
in many cases because prosecution entails proving intent.GAAP (Generally Accepted Accounting Principles): The standard frame-
work of guidelines for financial accounting. It includes the standards,
conventions, and rules accountants follow in recording and summarizing
transactions and in the preparation of financial statements.GHG (Green House Gases):Greenhouse gas emissions are increasingly the
subject of emissions laws. Greenhouse gases include not only CO2, but also
CH4, N2O, HFCs, PFCs, and SF6 as specified by the Kyoto Protocol.Glossary 325
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