STATUTE Definition

STATUTE is an act passed by a legislative body, e.g. U.S. Congress.

Learn new Accounting Terms

INTEREST EXPENSE is the cost of borrowing funds in the current period. It is shown as a financial expense item within the income statement. An interest expense of zero to <15% relative to operating income, within the consumer products industry, is an indicator of a sustainable competitive advantage.

UNDERWRITING is to protect by insurance or to guarantee the financial support of the subject item.

Suggest a Term