Import – to bring goods or resources from another country into Australia for processing, use and/or sale.

Incentive – money or benefits offered to encourage a particular activity or to reward a particular effort or outcome.

Income – revenue that is earned by the business.

Income statement – is a company's financial statement that indicates how the revenue is transformed into the net income of the business.

Income tax – a tax applied to the annual income of individuals and businesses.

Indemnity insurance – provides protection to your business where a piece of advice you have given causes financial or other losses to clients.

Induction training – activities designed to provide new-starters with the information they need, as well as getting them up to speed on how the organisation works. For example conditions of service, physical layout of the workplace, safety rules, local conventions and customs and supervisory procedures.

Input taxed – some supplies are input taxed, which means you do not charge GST for them nor are you entitled to claim input tax credits for costs relating to the supply.

Input tax credits – or GST credit - you are entitled to claim an input tax credit for the GST portion of the price you pay for your business purchases.

Intangible assets – those assets of a business, which cannot be assigned a tangible, fixed value, such as leases, franchises, goodwill and patent rights.

Intellectual property (IP) – a thought process, or the product of a thought process, which an individual or business owns and uses in the course of business.

Interactive website – a website that responds to viewer selections.

Interest – the cost of borrowing money.

Internet – the global network of computers, routers and cable connections that enables the world’s computers to connect to each other.

Intranet – restricted use of the internet, usually within one organisation. Passwords are used to prevent entry from outsiders. Used for company information and collaboration.

Inventory – the value of all the stock of physical items that a business uses in its production process or has for sale in the ordinary course of doing business.

Investment – money used to purchase any capital items for the business and expected to yield an income.

Investor – an individual or organisation which contributes equity capital to a business venture.

Invoice – a commercial document issued by a seller to the buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided the buyer.

Invoice financing – see ‘Factoring’.

IP address (IT) – a unique name (or number) identifying a computer user of computer is called an address or an IP address. IP addresses are used in network communications in transmitting messages to a particular person or machine.

ISP (IT) – an internet service provider is a company that provides an intermediate link between a computer or a network and the internet.

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