12 Terms
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General accounting
Use this category for general accounting terms.
Industry: Accounting
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General accounting
incremental spending
Accounting; General accounting
Corporate or government spending that is limited to a sequential allocation of funds based on obtaining a previously established spending limit. Initial spending limits are established in the ...
incurable depreciation
Accounting; General accounting
When a defect in an asset is present and becomes too costly to repair.
incurred cost
Accounting; General accounting
In accounting, an expense that has been incurred during the course of business, and that is a liability until it is paid.
income taxes payable
Accounting; General accounting
A line item on a company's financial statement to reflect how much taxes the company had paid for the accounting period.
incompatible duties
Accounting; General accounting
A concept relating to separation of duties, a control method in business and accounting used to prevent fraud and limit the consequences of errors.
inconvertibility
Accounting; General accounting
Situation where the currency of a country cannot be exchanged for a foreign currency in the open market.
incorrect acceptance
Accounting; General accounting
One of the types of sampling risk that must be considered by auditors when choosing a sample size for a control audit.