What Are Internal Controls? Internal controls are accounting and auditing processes used in a company’s finance department that ensure the integrity of financial reporting and regulatory compliance. Internal controls help companies to comply with laws and regulations, and prevent fraud. They also can help improve operational efficiency by ensuring that budgets are adhered to, policies
What Is an Internal Growth Rate (IGR)? An internal growth rate (IGR) is the highest level of growth achievable for a business without obtaining outside financing, and a firm’s maximum internal growth rate is the level of business operations that can continue to fund and grow the company. The internal growth rate is an important
What Is the Internal Revenue Code (IRC)? The Internal Revenue Code (IRC) refers to Title 26 of the U.S. Code, the official “consolidation and codification of the general and permanent laws of the United States,” as the Code’s preface explains. Commonly referred to as the IRS code or IRS tax code, the laws in Title 26 are enforced
What Is the International Banking Act of 1978? The International Banking Act of 1978 put all American branches and agencies of foreign banks under the control of U.S. banking regulators. It allowed Federal Deposit Insurance Corporation (FDIC) insurance to be provided to these branches. It also required them to conform to U.S. banking regulations related
What Is the International Bank of Reconstruction and Development (IBRD)? The International Bank of Reconstruction and Development (IBRD) is a development bank administered by the World Bank. The IBRD offers financial products and policy advice to countries aiming to reduce poverty and promote sustainable development. The International Bank of Reconstruction and Development is a cooperative
What Is an International Bond? An international bond is a debt obligation that is issued in a country by a non-domestic entity. Generally, it is denominated in the currency of its issuer’s native country. Like other bonds, it pays interest at specific intervals and pays its principal amount back to bondholder at maturity. International bonds
What Is the International Energy Agency (IEA)? The International Energy Agency (IEA) is an international intergovernmental organization based in Paris that was established in 1974. Its stated mandate is to maintain the stability of the international oil supply, although its mission has expanded in recent years to emphasize the promotion of renewable energy sources. Key
What Is an International ETF? An international exchange-traded fund (ETF) is any ETF that invests specifically in foreign-based securities. The focus may be global, regional, or on a specific country and may hold equities or fixed-income securities. Key Takeaways International ETF is an exchange traded fund that specializes in foreign securities.An international ETF may track
What Is the International Federation Of Accountants (IFAC)? The International Federation of Accountants (IFAC) is a global organization representing the accounting profession. IFAC establishes and promotes international standards, and speaks for the profession on public policy issues. According to the IFAC website, the group serves the public interest through advocacy, development, and support for our
What Is the Interest Deduction? Interest deduction causes a reduction in taxable income. If a taxpayer or business pays interest, in certain cases the interest may be deducted from income subject to tax. Some examples of interest payments that can be deducted are: Interest payments for a mortgage on a rental property can also be
