BSA
Bank Secrecy Act. The Bank Secrecy Act of 1970 (aka the Currency and Foreign Transactions Reporting Act) is legislation designed to prevent financial institutions from being used as tools by criminals to hide or launder their money.
CSA
Controlled Substances Act. The Controlled Substances Act is legislation blah blah blah.
DEA
Drug Enforcement Agency. The United States federal law enforcement agency tasked with combating drug trafficking and distribution within the United States
IRS
Internal Revenue Service. The United States federal agency responsible for collecting taxes and administering the Internal Revenue Code, the main body of the federal statutory tax law of the United States.
OMMA
Oklahoma Medical Marijuana Authority.  The Oklahoma state government agency is responsible for licensing, regulating, and administering the medical marijuana program as authorized by state law.
OTC
Oklahoma Tax Commission. The Oklahoma state government agency that collects taxes and enforces the taxation and revenue laws of the state.
SAR
Suspicious Activity Report. A document filed by a financial institiuion that observes suspicious activity regarding an act. Financial institutions such as banks are required to complete such reports under the Bank Secrecy Act of 1970.

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QuickStart Guide to Accounting for Cost of Goods Sold Copyright © 2019 by reecejr1 and Reece B. Morrel, Jr. JD MBA CPA CGMA AEP®. All Rights Reserved.

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