Expenditure, records

Write checks for expenditures of 5.00 or more. This gives you a better record of where your money goes. 

The total expenditure on the plant, after construction and start-up, should be carefully developed and recorded for the company s files, against a need on a future project - the best possible guide to an estimate of the cost of a future plant is the detailed cost of an earlier example. 

Accountants in industrial plants maintain records on actual expenditures for labor, materials, power, etc., and the maintenance and interpretation of these records is known as actual or post-mortem cost accounting. From these data, it is possible to make accurate predictions of the future cost of the particular plant or process. These predictions are very valuable for determining future capital requirements and income, and represent an important type of cost accounting known as standard cost accounting. Deviations of standard costs from actual costs are designated as variances. 

Asset Master Record Maintenance Asset Acquisitions Capital Expenditure Asset Decommissioning Depreciation Simulation (including Tax)... 

Like research itself, the records concerning research must be organized for maximum results with the least expenditure of time and money. 

Automatic Temperature Control.—Indicators or recorders fitted with means for closing electric contacts are made by the Bristol Co., Brown Instrument Co., and the Leeds Northrup Co. Automatic control requires the expenditure of... 

Environmental expenditure the annual report identifies that in 1999 Solutia Inc. spent US 88 million on environmental operations, including US 22 million against recorded environmental liabilities . In 1998 Solutia UK spent 0.3 million on capital expenditure for environmental protection, 0.1 million on land remediation and 1.1 million on operating costs. 

This chapter summarizes trends in pharmaceutical research and development (R D) spending and compares estimates from available data sources. In short, the pharmaceutical industry invests more intensively in R D than do most industries, and expenditures in constant dollars have risen at an astonishing rate of roughly 10 percent per year. Since 1980, pharmaceutical firms in the United States and abroad have devoted an increasing proportion of total sales to R D. How much is spent What does this record of increasing real investment in R D say about the costs and returns to pharmaceutical R D, both in the past and in the future This chapter addresses these questions. 

Despite these distortions, the Office of Technology Assessment believes that the overstatement in estimates based on company financial reports is still a small proportion of total industry R D and does not account for much of the increase in the recorded rate of change of R D in the 1980s, especially domestic R D. First, PMA s membership does not include many small biotechnology companies, so the potential for double counting of R D expenditures is reduced. (For example,... 

Book value refers to the end-of-the-year value of capital assets after depreciation expenses. Strict accounting convention determine what kinds of investments create a capital asset. R D, for example, is not recorded as an investment but is fully expensed in the year in which expenditures are made. This accounting convention required since 1975 by the Federal Accounting Standards Board, is equivalent to depreciating die investment 100 percent in die year it is made. 

Accounting standards require firms to record as current expenditures all outlays for R D, advertising, and promotion when in reality these expenditures are investments whose payoffs may be delayed or extended into future accounting periods. The value of the intangible assets produced by these investments is too uncertain for use in accounting statements. Thus, the book value of assets in a company s financial statement underestimates the true value of assets, especially when these investments are important components of the company s activities, as in the pharmaceutical industry (62,78,80). 

Expensing In accounting, the practice of recording an expenditure in the period in which it occurs. 

After the Second World War, Europe had to be reconstructed. This demanded a high amount of oil that enabled Anglo-Iranian to expand its business greatly. The company s sales, profits, capital expenditure and employment all rose to record levels in the late 1940s. By this time, the refinery at Abadan was the largest in the world. 

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