6 Terms
Home > Industry/Domain > Accounting > Auditing
Auditing
The systematic review and examination of an individual's or organization’s accounting records to verify their accuracy.
Industry: Accounting
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Auditing
Actuarial gain or loss
Accounting; Auditing
Deficit or excess of a pension plan's actual costs over those estimated from actuarial assumptions.
In-substance debt defeasance
Accounting; Auditing
A loan provision that removes it from the balance sheet of cash is set to the side for debt service. Defeasance typically happens when a borrower owns a portfolio of Treasury securities where coupons ...
Inbound cash flow
Accounting; Auditing
Currency received by a company or an individual from participating in a transaction with another party or entity. This cash flow may be in the form of sales revenue from sales or services performed, ...
Incidental fee
Accounting; Auditing
A fee used to make up for a budget shortfall or to fund particular projects. Incidental fees are often associated with college tuition expenses, and are used to pay for services other than ...
In specie
Accounting; Auditing
From the Latin term meaning "in actual form," this is an asset that will be recorded as it appears and will not be converted for liquidation if a financial crisis arises.
Inactive asset
Accounting; Auditing
A valued instrument not being used in current business operations. For example, a plough only used when another one needs to be repaired.
In the red
Accounting; Auditing
A slang phrase referring to a company that is burdened by operating expenses and is unable to generate revenue.
