Tag: incurred

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...

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...
absorbed cost

Absorbed Cost

What is an absorbed cost and how does it impact a business's bottom line An absorbed cost is an overhead cost that has been fully...

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...

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...

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...

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...
Variable Overhead Efficiency Variance

Variable Overhead Efficiency Variance

How Does Variable Overhead Efficiency Variance Affect Your Overhead Rate? There are two forms of overhead rate variation: Fixed overhead rate variance and Variable Overhead...
Variable Overhead Spending Variance

Variable Overhead Spending Variance

What is a Variable Overhead Spending Variance A variable overhead spending variance is the difference between the actual amount of variable overhead incurred and the...

Tax Expense

DefinitionA company's tax expense, or tax charge, is the income before tax multiplied by the appropriate tax rate. Generally, companies report income before tax...

EDITOR PICKS

Latest