ED and Expense: Difference between pages
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1. | |||
A cost necessarily incurred in performing duties as an employee or independent professional. | |||
2. | |||
More generally, any cost necessarily incurred in order to do something. | |||
3. ''Financial reporting - noun.'' | |||
An item treated as a cost in the current reporting period, when preparing an income statement. | |||
4. ''Financial reporting - verb.'' | |||
To account for an item as an expense in the current reporting period, rather than capitalising it. | |||
Capitalising an item of expenditure ''defers'' the accounting recognition of the expense into later reporting periods. | |||
==See also== | |||
*[[Accrual]] | |||
*[[Accrued expense]] | |||
*[[Administrative expenses]] | |||
*[[Bad debt expense]] | |||
*[[Capitalise]] | |||
*[[Depreciation expense]] | |||
*[[Expenditure]] | |||
*[[Expense relief]] | |||
*[[Expenses]] | |||
*[[Financial reporting]] | |||
*[[Income statement]] | |||
*[[Management expenses]] | |||
*[[Prepaid expense]] | |||
*[[Recognition]] | |||
*[[Research & development]] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
Revision as of 12:10, 3 May 2022
1.
A cost necessarily incurred in performing duties as an employee or independent professional.
2.
More generally, any cost necessarily incurred in order to do something.
3. Financial reporting - noun.
An item treated as a cost in the current reporting period, when preparing an income statement.
4. Financial reporting - verb.
To account for an item as an expense in the current reporting period, rather than capitalising it.
Capitalising an item of expenditure defers the accounting recognition of the expense into later reporting periods.
