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An expense report is a form of document that contains all the expenses that an individual has incurred as a result of the business operation. For example, if the owner of a business travels to another location for a meeting, the cost of travel, the meals, and all other expenses that he/she has incurred may be added to the expense report.
Generally Accepted Accounting Principles (GAAP) [a] is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC), [1] and is the default accounting standard used by companies based in the United States.
A "representation" is a pre-contractual statement made during negotiations. [4] If a representation has been incorporated into the contract as a term, [5] then the normal remedies for breach of contract apply. Factors that determine whether or not a representation has become a term include: The relative expertise of the parties. [6] [7]
Carpenter, "Taxation Without Representation" in Dictionary of American History, Volume 7 (1976) John C. Miller, Origins of the American Revolution. 1943. Edmund Morgan. Inventing the People: The Rise of Popular Sovereignty in England and America (1989) J. R. Pole; Political Representation in England and the Origins of the American Republic (1966)
Net Income = Revenue − Expenses. The equation resulting from making these substitutions in the accounting equation may be referred to as the expanded accounting equation, because it yields the breakdown of the equity component of the equation. [5] Assets = Liabilities + Contributed Capital + Revenue − Expenses − Dividends
Flexible expenses are similar to variable expenses as they are discretionary purchases that can be altered or eliminated without a significant impact to your lifestyle.
G&A – General and Administration expense. expenditures related to the day-to-day operations of a business. H. HF – Hedge fund;
Reported assets, liabilities, equity, income and expenses are directly related to an organization's financial position. Financial statements are intended to be understandable by readers who have "a reasonable knowledge of business and economic activities and accounting and who are willing to study the information diligently."