20 Terms
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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
Incremental cost pricing
Accounting; Auditing
Method of pricing a good or service in which the price of a unit produced (after all fixed costs of production have been met) is based on variable costs (and not on the total cost) incurred in its ...
Increasing return to scale
Accounting; Auditing
Increase in output that is proportionally greater than a simultaneous and equal percentage change in the use of all inputs, resulting in a decline in average costs.
Incremental cash-flow principle
Accounting; Auditing
Project financing concept that the only cash flows relevant to the valuation of a project are the incremental cash flows resulting from it.
Incremental budget
Accounting; Auditing
Forecast of fixed overhead costs, computed by adding or subtracting a predetermined percentage from the historical costs (or current or past budgets).
Incremental borrowing rate
Accounting; Auditing
Interest rate a lessee would have to pay if, instead of leasing, he or she finances the purchase of the same asset.
Incremental cost
Accounting; Auditing
The cost of making extra units above the number already planned. This may then include further fixed costs.
Incremental cash-flow
Accounting; Auditing
Change in the cash flow of an operation or project that results from an investment.
