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Tax

Of or relating to the fees charged by a government on a product, income, or activity; and also to the system by which they are successfully levied.

Industry: Accounting

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Tax

liquidated damages

Accounting; Tax

A specific sum of money, set as part of a contract, to be paid by one party to the other if the first should default on the contract

A method of recording collection losses based on estimates before the actual determination that the business will be unable to collect such losses For example, at the end of the year a company will ...

accrue

Accounting; Tax

To record an item in the accounting books when using the accrual method of accounting For example, you accrue income when the customer signs a contract, even though you won't receive any cash at ...

liquidity premium

Accounting; Tax

The part of an interest rate or other return that is intended to cover the fact that the investment is illiquid

american-style option

Accounting; Tax

An option exercisable at any time between the purchase and expiration date

accrued expense

Accounting; Tax

An expense that has been incurred, but not yet paid in cash Similar to accounts payable, but usually associated with nontrade vendors For example, an electric bill