会计专业英语第8章 Revenue and Expense.pptx,会计专业英语Chapter 8 Revenue and Expense 8.1.1 Definition of RevenueThe increase in economic resources either through increases to assets or reductions to liabilities. 8.1 Revenue Various terms can used to desc
Because they think it will help them to build an asset such as home loan or mortgage. But good liabilities can turn bad. For example, a mortgage that is too large. As mentioned in earlier article,It’s not what you earn that makes your financial positionMD is about to loose his job a...
the amount of the expense is recorded on the income statement as an expense, and the same amount is booked on the balance sheet undercurrent liabilitiesas a payable.1Then, when the cash is actually paid to the supplier or vendor, the cash account is ...
财经翻译中应计费用(accrued expense)和计提(provisions)的区别 中英文定义：应计费用：指本期已发生(耗用) 但尚未支付款项的各种费用，如应付租金、应付利息及应付工资等。An accrued expense, also known as accrued liabilities, is an accounting term that refers to an expense that is recognized on the ...
On abalance sheet, anexpenseorassetthat is recognized before it ispaid. Accruals are recorded as liabilities or assets (depending on the type) and are recognized because of the extremely high likelihood of payment. Accruals are generally periodic payments; examples includesalariesandaccounts receivable...
1) buy liabilities Here's the long explanation I found on a website: The expenditure may be for the purchase of an asset, a reduction of a liability, a distribution to the owners, or it could be anexpense. For instance, an expenditure to eliminate a liability is not anexpense, while ...
In the context of accounting, a balance sheet is a financial statement which shows the financial position of a firm on a given date. A balance sheet usually consists of three prominent sections, namely, assets, liabilities and shareholders' equity. The assets a...
◦Generallyspeaking,expenseistheexpenditurethatischargedagainstrevenue.Specifically,expenseisthedecreaseineconomicresourcesresultingfromreductionsofassetsoroccurrenceofliabilities.◦Examplesofexpenses Costofemployees’salaries,advertising,rent,utilities,anddepreciation.Alltheseexpensesareessentialtoattractandservice...
deferral- a state of abeyance or suspended business recess abeyance,suspension- temporary cessation or suspension 2.deferral- act of putting off to a future time deferment,postponement delay,holdup- the act of delaying; inactivity resulting in something being put off until a later time ...
Tax expenses are the total amount of taxes owed by an individual, corporation, or other entity to a taxing authority. Income tax expense is calculated by multiplying taxable income by the effective tax rate. Other taxes may be levied against an asset's value, such as property or estate taxes...