Revenue expenditure: Difference between revisions
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1. ''Financial reporting | 1. ''Financial reporting'' | ||
Expenditure that is charged against profits in the current financial reporting period, rather than being capitalised. | Expenditure that is charged against profits in the current financial reporting period, rather than being capitalised. | ||
2. ''Tax | 2. ''Tax'' | ||
Expenditure incurred in the course of trade that is treated as an allowable deduction in arriving at taxable profit. | Expenditure incurred in the course of trade that is treated as an allowable deduction in arriving at taxable profit. | ||
Revision as of 20:38, 17 December 2016
1. Financial reporting
Expenditure that is charged against profits in the current financial reporting period, rather than being capitalised.
2. Tax
Expenditure incurred in the course of trade that is treated as an allowable deduction in arriving at taxable profit.
