Accounting Software Glossary |
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The accounting software glossary is a glossary of words and phrases related to accounting software and is provided entirely as-is and without warranty. Please feel free to make use of the definitions of accounting software terms contained herein, provided you quote your source or, if used online, provide a link back to the accounting software glossary. |
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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
Definition of Insolvent |
Insolvent is the term used to describe a company that has insufficient funds to pay its debts. If a company's liabilities are greater than its assets and it continues to trade, then it is trading while insolvent, which is illegal in the UK if there is no realistic likelihood of the company returning to solvency. Other accounting software terms beginning with I |
| Impersonal Accounts |
| Impersonal accounts represent accounts other than ... |
| Imprest System |
| The imprest system is a method for keeping petty c... |
| Income |
| The amount of money or its equivalent received dur... |
| Inland Revenue |
| The UK Inland Revenue was the Government departmen... |
| Insolvent |
| Insolvent is the term used to describe a company t... |