Revaluation reserve and Revenue expenditure: Difference between pages

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.

@@ Line 1: / Line 1: @@
-''Financial reporting.''
+. ''Financial reporting''
-A revaluation reserve is a special, separate, accounting reserve recording the gains, net of any related losses, on the revaluation of tangible fixed assets.
+Expenditure that is charged against profits in the current financial reporting period, rather than being capitalised.
-Relevant accounting standards include Section 17 of FRS 102.
+. ''Tax''
+Expenditure incurred in the course of trade that is treated as an allowable deduction in arriving at taxable profit.
 == See also ==
-* [[FRS 102]]
+* [[Capitalise]]
-*[[Reserves]]
+* [[Expenditure]]
-*[[Revaluation]]
+* [[Opex]]
-*[[Tangible asset]]
 [[Category:Accounting,_tax_and_regulation]]
-[[Category:The_business_context]]