Capital and Revenue Expenditure

Capital and Revenue Expenditure

Key Takeways: • define capital and revenue expenditure • distinguish between capital and revenue expenditure • classify accounting transactions as capital and revenue expenditure • analyse the effects of differences in classification and treatments of capital and revenue expenditure on profit/loss for the period and non-current assets Source: 7087_y22_sy Principles of Accounts O-Level for 2022 (seab.gov.sg) Definition and differences…

INTERNATIONAL STANDARDS & ACCOUNTING TERMINOLOGY

INTERNATIONAL STANDARDS & ACCOUNTING TERMINOLOGY

The terminology for accounting varies across different levels of study. Those of you who have moved on to study accounting at tertiary level would agree – terms like debtors and creditors have a different meaning in ICCI, CAT, ACCA and other accounting diploma/degree programs. The term Debtors used for O’/N’ Level, for example, becomes Accounts…