ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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IRC is Internal Revenue Code of 1986 (formerly 1954).
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HARMONIZED SYSTEM is an internationally agreed upon classification system for trade. It provides code numbers to specify a goods classification; thereby making customs duty determination more predictable.
BILLINGS, generally, is the request for payment of a debt. In accounting, it is sales for which invoicing has been issued.