Interest
Interest is the cost of borrowing money, or the return earned on invested funds. It’s usually expressed as a percentage (interest rate) of the principal. For borrowers, it’s an expense, for lenders or investors, it’s income. Interest can be simple, or compound based on how it’s calculated.
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Installment
Installment is a partial payment made on a schedule toward settling a larger debt or purchase. Installments break down the…
Interim Financial Statement
Financial reports prepared for a period shorter than a full fiscal year typically quarterly or monthly. They provide stakeholders with…
Internal Control
Policies and procedures designed to safeguard assets, ensure accurate financial reporting, and promote compliance with laws. Internal controls reduce the…
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