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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Incurred Expense
An incurred expense is a cost that a business has become liable for, regardless of whether it has been paid…
Incremental Cost
Incremental cost refers to the additional expense incurred when producing one extra unit of output or undertaking a specific decision.…
Impairment Loss
Impairment loss occurs when an asset’s carrying value exceeds its recoverable amount. It represents a permanent reduction in the value…
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