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The figures are a set of financial records for the entire UK public sector, from 1 April 2009 to 31 March 2010 - under the previous Labour government - based on commercial accounting principles.
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United Stationers provides, on average, 60% of its superstore clients' commercial offerings, accounting for up to 10% of their sales.
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Commercial banks have three accounting categories, or buckets, to choose from--two of which don't end up on the income statement.
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These transactions were developed and marketed by an interlocking network of commercial interests, including leading law firms, accounting firms and investment banks.
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The quirks of the different accounting rules turn on its head the idea that investment banks are bigger risk takers than commercial banks--hence riskier investments.
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If this accounting asininity had been in effect during the banking trouble in the early 1990s, almost every major commercial bank in the U.S. would have collapsed.
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The custodians are all regulated by the SEC and FINRA, audited by a nationally recognized accounting firm, and each account is protected for loss of securities by a combination of SIPC insurance and commercial excess Securities Investor Protection Corporation (SIPC).
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