EC Directive 97/5EC and Expense: Difference between pages

Latest revision as of 22:24, 14 July 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.

For example, a bad debt expense.

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.

@@ Line 1: / Line 1: @@
-''European Union law.''
+.
-Related to cross-border credit transfers worth up to the equivalent of EUR 50,000 within the EU and the European Economic Area (EEA). Repealed by Directive 2007/64/EC.
+A cost necessarily incurred in performing duties as an employee or independent professional.
-== See also ==
+.
-* [[EC Directive 2007/64/EC]]
+More generally, any cost necessarily incurred in order to do something.
+. ''Financial reporting - noun.''
+An item treated as a cost in the current reporting period, when preparing an income statement.
+For example, a bad debt expense.
+. ''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]]