13 Results for Tag: incurred

Imputed Cost

DefinitionIn economics, an implicit cost, also called an imputed cost, implied cost, or notional cost, is the opportunity cost equal to what a firm must give up in order to use a factor of p

Odious Debt

DefinitionIn international law, odious debt, also known as illegitimate debt, is a legal theory that says that the national debt incurred by a despotic regime should not be enforceable. Such

Absorption Costing

DefinitionTotal absorption costing is a method of Accounting cost which entails the full cost of manufacturing or providing a service. TAC includes not just the costs of materials and labour

Absorbed Cost

Absorbed Cost What is 'Absorbed Cost' The indirect costs that are associated with manufacturing. Absorbed costs include such expenses as insurance, or property taxes for the building in wh

Calendar Year Accounting Incurred Losses

Calendar Year Accounting Incurred Losses What is 'Calendar Year Accounting Incurred Losses ' Calendar year accounting incurred losses is a term used in the insurance industry to describe t

Passive Activity Loss Rules

Passive Activity Loss Rules What is 'Passive Activity Loss Rules' A set of rules that prohibits using passive losses to offset earned or ordinary income. Passive activity loss rules preven

Profit and Loss Statement

DefinitionAn income statement or profit and loss account is one of the financial statements of a company and shows the company's revenues and expenses during a particular period. It indicate

Qualified Adoption Expenses (QAE)

Qualified Adoption Expenses (QAE) What is 'Qualified Adoption Expenses - QAE' The necessary costs paid to adopt a child younger than 18 years of age or any disabled person who requires car

Variable Overhead Efficiency Variance

Variable Overhead Efficiency Variance What is 'Variable Overhead Efficiency Variance' The difference between actual variable overhead based on the true time taken to manufacture a product,

Variable Overhead Spending Variance

Variable Overhead Spending Variance What is 'Variable Overhead Spending Variance' The difference between actual variable overhead based on costs for indirect material involved in manufactu
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