What Is Adjusted Gross Income (AGI)? Adjusted gross income (AGI) is the figure that the Internal Revenue Service (IRS) uses to determine your income tax liability for the year. It is calculated by subtracting certain adjustments from gross income, such as business expenses, student loan interest payments, and other expenses. After calculating a taxpayer’s AGI
What Is Aging? Aging is a method used by accountants and investors to evaluate and identify any irregularities within a company’s accounts receivables (ARs). Accounts are sorted and inspected according to the length of time an invoice has been outstanding, enabling individuals to get a better view of a company’s bad debt and financial health. Aging can
What Is an Aging Schedule? An aging schedule is an accounting table that shows a company’s accounts receivables, ordered by their due dates. Often created by accounting software, an aging schedule can help a company see if its customers are paying on time. It’s a breakdown of receivables by the age of the outstanding invoice
What is Agio? Agio can refer to a bond premium (when the market value of the bond is greater than its par value) or a fee paid for a foreign exchange transaction. Key Takeaways Agio can refer to a bond premium (when a bond’s market value is greater than its par value) or a fee
What Is an Annual General Meeting (AGM)? An annual general meeting (AGM) is a yearly gathering of a company’s interested shareholders. At an AGM, the directors of the company present an annual report containing information for shareholders about the company’s performance and strategy. Shareholders with voting rights vote on current issues, such as appointments to
What Is an Agreed Amount Clause? An agreed amount clause is a property insurance provision through which the insurer agrees to waive the coinsurance requirement. Insurers will require a statement of property values–signed by the policyholder–as a condition for activating or including an agreed value provision in a policy. This arrangement is typically available for commercial and other
What Is Agricultural Credit? The term agricultural credit refers to one of several credit vehicles used to finance agricultural transactions. These vehicles include loans, notes, bills of exchange, and banker’s acceptances. This type of financing is specially adapted to the specific financial needs of farmers and allows them to secure equipment, plant, harvest, marketing, and do
What Is Agroforestry? Agroforestry is an approach to cultivating land in which trees and shrubs are integrated alongside agricultural crops and pastureland. Although agroforestry has been practiced in various forms for millenia, it has seen newfound popularity in recent years as a method to increase the resilience of agricultural land to climate change. Key Takeaways
What Is the American Institute of Banking (AIB)? The American Institute of Banking was formerly an organization founded and overseen by the American Bankers Association (ABA). The AIB’s primary purpose was providing specialized training courses and certifications for the banking industry. It worked alongside the Institute of Certified Bankers (ICB) which was also an ABA
What Is an Associate In Claims (AIC)? In the insurance industry, an associate in claims (AIC) designation signifies specialized training and skills in the handling of various types of insurance claims. It is often pursued by those working in the insurance industry as claims adjusters, and it can be a valuable asset for those pursuing
