Glossary

 

  • Income statement (Annual account)

    The income statement presents an overall picture of the income and expenses flows over some period in time, a fiscal year. The income statement makes a distinction between operating results, financial results and extraordinary results.

  • Inflation

    General and persistent rise in prices

  • Instalment loan

    In the case of an instalment loan, a sum of money is put at the consumer's disposal and he pledges to repay this by regular payments.

  • Interest rate

    The amount that a debtor has to pay to the creditor over a given period of time in relation to the amount of the principal of the loan, deposit or debt security, usually expressed in annual percentage terms.

  • International Accounting Standards (IAS)

    Generally recognised accounting principles issued by the International Accounting Standards Board (IASB), an independent, privately funded setter of accounting standards. These are enforceable global standards relating to the provision of transparent and comparable information in general-purpose financial statements. In April 2001 the IASB announced that its accounting standards would in future be designated International Financial Reporting Standards (IFRS).

  • International Monetary Fund (IMF)

    The International Monetary Fund (IMF) was set up in 1944 at Bretton Woods in the United States, at the same time as the World Bank. As one of the Bretton Woods institutions, the IMF aims to promote international monetary cooperation and to facilitate the balanced expansion of international trade.

  • Intrastat

    Via the monthly intrastat declaration companies provide information about their intercommunity (intra-EU) flows of goods, unless these do not exceed a threshold calculated on an annual basis. This declaration, which includes all data regarding goods arriving from other Member States and goods being sent to other Member States, is to be sent directly to the National Bank.