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Letter I: Bookkeeping and Accounting Definitions

Accounting Definitions Starting with the Letter I

There are over 75 accounting definitions and bookkeeping terms here in my bookkeeping glossary.

Use this page as an accounting resource to help improve your bookkeeping knowledge of terms starting with the letter I.

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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Income Accounts:

The amount of money received over a period of time either as payment for work, goods, or services, or as profit on capital.

Income Statement:

A financial statement showing the profit or loss sustained by a company during a particular period, including all items of income and expenditure.

Installment Sale:

One of a series of sums of money paid at regular intervals to settle a debt.

Insurance Premium:

The payment made to obtain insurance.

Intangible Assets:

A business asset such as a company's customer goodwill that is of value although it is not directly quantifiable in terms of goods produced or sold.

Inventory:

A record of a business's current assets, including property owned, merchandise on hand, and the value of work in progress and work completed but not sold.

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