Intangible Property
Intellectual property, patents, trademarks, and other non-physical assets subject to transfer pricing considerations.
Interbank Rate
The interest rate at which banks lend to one another, typically utilized as a benchmark for other interest rates and financial products.
Intercompany Agreements
Legal contracts specifying terms and conditions of transactions between related entities for transfer pricing compliance.
International Banking
Financial activities conducted across borders, addressing the unique requirements of global commerce.
Intra-Group Financing
Loans and financing arrangements within a group of related companies, subject to transfer pricing rules.
Intra-Group Services
Services provided by one related entity to another within the same corporate group, subject to transfer pricing rules.
Inward Payment
A financial transaction in which funds are received from a foreign source or an external party.
Inward Remittance Certificate
An official document confirming the receipt of foreign funds.
Illusory Profits
Gains that appear on paper but are not realized in actual cash flow.
Impairment Of Assets
The recognition of a reduction in the value of an asset on the balance sheet.
Income Exclusion Rule
A tax rule that excludes certain types of income from taxation.
Income Statement
A statement that showcases an enterprice's revenue, expenses, & net income over a specific period.
Incremental Tax
The additional tax liability incurred when income increases.
Indenture
A legal contract outlining the terms and conditions of a bond or debt security.
Indirect Costs
Costs that cannot be directly tracked to a specific product/service and are often allocated to different cost centers.
Indirect Labor Costs
Labor costs associated with employees who indirectly produce goods or services.
Input Tax
Value-added tax (VAT) paid on purchases and expenses that can be offset against VAT liabilities.
Insolvency
The state of being unable to meet one's financial obligations.
Intangible Assets
Non-physical assets with value, such as patents, trademarks, and goodwill.
Interest Expense
The cost of borrowing money, typically reported as an expense on your income statement.
Interim Financial Statements
Financial statements prepared for a period shorter than a full fiscal year, such as quarterly statements.
Internal Rate of Return
A metric utilised to evaluate the potential profitability of an investment.
International Financial Reporting Standards
A set of global accounting standards used for the preparation of financial statements.
Interperiod Tax Allocation
The allocation of income tax expenses or benefits among multiple accounting periods.
Inventory
The stock of goods and materials held by a business for resale or production.
Inventory Conformity Rule
Accounting rules that dictate how inventory is valued and accounted for in financial statements.
Inventory Shrinkage
The loss of inventory due to theft, damage, or other reasons.
Invoice
A document that details a transaction, including the products or services provided, their quantities, and prices.
IRS Form 990
A tax form used by tax-exempt organizations to report their financial information to the IRS.
IRS Form 990-T
A tax form used by tax-exempt organizations to report unrelated business income to the IRS.
IRS Scams
Fraudulent schemes and scams that impersonate the IRS to steal personal or financial information.
Isocost Line
A graphical representation of all possible combinations of inputs that cost the same.
