Hence, expenses in accounting are the cost of doing business, including a sum of all the activities that will hopefully generate profit for you. Some of the varied ways in which expenses are defined in accounting are: Office supplies use up the cash (asset) Depreciation expenses are a charge...
in determining taxable income. Expenses in the fourth category are not deductible, except in a few cases (medical expenses, charitable contributions, etc.) in which they are specifically allowed by law. Expenses are to be distinguished from "capital expenditures," defined elsewhere in this glossary...
Building Operating Expenses means the portion of “Operating Expenses,” as that term is defined in Section 4.2.7 below, allocated to the tenants of the Building pursuant to the terms of Section 4.3.1 below. Operating Costs means the incremental expenses incurred by the Recipient on account of...
Accounting's importance as a barometer of business health—past, present, and future—and a tool of business navigation is reflected in the words of the American Institute of Certified Public Accountants (AICPA), which defined accounting as a "service activity." Accounting, said the AICPA, is ...
obligations or expenses in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, settlement or appeal of, or otherwise participating in, a Proceeding (as defined below), including reasonable compensation for time spent by Indem...
well as the Value. If you select Constant for the Type, then the Value field will be limited to the roles that are loaded into the database. If you select Item Attribute for the Type, then all of the Item Attributes defined in the Expenses workflow will be available in the Value field...
This is a delivered PeopleSoft ChartField, specific use of which is typically defined by your organization during implementation of General Ledger. Activity ID assigned to the individual tasks or events you want to update in a project. ChartField used to map transactions between business units ...
Fund‐raising costs are the costs of fund‐raising activities, which are defined in the FASB ASC glossary as activities undertaken to induce potential donors to contribute money, securities, services, materials, facilities, other assets, or time. The Financial Reporting Executive Committee (FinREC) ...
Costs that are constant within a defined level of activity but that can increase or decrease when activity reaches upper and lower levels. Tangible fixed assets Physical assets that can be seen and touched, e.g. buildings, machinery, vehicles, computers etc. ...
Companies break down their revenues and expenses in theirincome statements. Accountants record expenses through one of two accounting methods: cash basis or accrual basis. Under cash basis accounting, expenses are recorded when they are paid. In contrast, under the accrual method, expenses are record...