Disallowable expenditure and Expense: Difference between pages

Revision as of 13:34, 21 June 2016

Accounting

1.

An item treated as a cost in the current reporting period, when preparing an income statement.

2.

To account for an item as an expense, rather than capitalising it.

@@ Line 1: / Line 1: @@
-''Tax''.
+''Accounting''
-Amounts paid out by a taxpayer which are not eligible for tax relief.
-Such amounts charged to accounting profits would be added back to the accounting profits, in the calculation of taxable profits in the taxpayer's tax computation.
+.
-For this reason they are sometimes known as 'addbacks'.
+An item treated as a cost in the current reporting period, when preparing an income statement.
-== See also ==
-* [[Tax computation]]
-* [[Tax relief]]
-[[Category:Taxation]]
+.
+To account for an item as an expense, rather than capitalising it.
+==See also==
+*[[Capitalise]]
+*[[Expenses]]
+*[[Income statement]]