GLOSSARY of Costing & Management Accounting Terms-Alphabet I


Ideal standard

A standard based on the best possible operating condition

Indirect costs

Costs that cannot be conveniently traced to a product

Idle time

Unproductive time due to circumstances beyond the worker’s control.

Integrated accounts

A system where one set of accounts is maintained

Interlocking accounts

A system where the financial accounts are kept separate from the cost accounts

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