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  • Nova Scotia
  • The report viewed this as the first step in changing the rules regarding expenses of Nova Scotia MLAs. (wikipedia.org)
  • While Lapointe did not name any MLAs in his report, and said that no one had violated the law currently in place, all three parties in the Nova Scotia legislature were blamed for reckless spending, and announced his hope that more attention would be focused on repairing the expenses system rather than on demonizing legislators. (wikipedia.org)
  • allowance
  • Senators Patrick Brazeau, Mike Duffy, Mac Harb, and Pamela Wallin claimed travel and living allowance expenses from the Senate for which they were not eligible. (wikipedia.org)
  • On 18 June 2009 the details of all MPs' expenses and allowance claims approved from 2004 to 2008 were published on the official Parliament website with detail such as addresses, claims that were not approved for payment and correspondence between MPs and the parliamentary fees office removed, bringing further accusations of unnecessary secrecy and allegations that this might have prevented serious abuses from being disclosed. (wikipedia.org)
  • MSP's are allowed to claim for certain expenses encountered as a result of taking up their position, these include: Members' Support Allowance An allowance of up to £60,700 to cover constituency work including employing staff, running an office and meeting constituents. (wikipedia.org)
  • assets
  • On 23 August 2010, The Irish Times reported that a further complaint against Callely was received by the committee investigating his expenses claims, relating to his alleged failure to declare in his annual Oireachtas statement of interest all his property assets that are not for family use. (wikipedia.org)
  • Under the U.S. tax code, businesses expenditures can be deducted from the total taxable income when filing income taxes if a taxpayer can show the funds were used for business-related activities, not personal or capital expenses (i.e., long-term, tangible assets, such as property). (wikipedia.org)
  • An expense decreases assets or increases liabilities. (wikipedia.org)
  • Funds typically pay their operating expenses out of fund assets - which means that investors indirectly pay these costs. (wikipedia.org)
  • Management fees are fees that are paid out of fund assets to the fund's investment adviser for investment portfolio management, any other management fees payable to the fund's investment adviser or its affiliates, and administrative fees payable to the investment adviser that are not included in the "Other Expenses" category (discussed below). (wikipedia.org)
  • Why Do Assets and Expenses Both Have a Debit Balance? (wikipedia.org)
  • The expense ratio of a stock or asset fund is the total percentage of fund assets used for administrative, management, advertising (12b-1), and all other expenses. (wikipedia.org)
  • An expense ratio of 1% per annum means that each year 1% of the fund's total assets will be used to cover expenses. (wikipedia.org)
  • Thus, most of a fund's expenses behave as a variable expense and thus, are a constant fixed percentage of fund assets. (wikipedia.org)
  • Tuition
  • In both instances, qualified higher education expenses (QHEEs) are defined the same: Tuition, fees, books, supplies and equipment (including laptops or notebooks) needed to enroll or attend a level of education beyond high school. (investopedia.com)
  • Students who are taking 16 credits over 12 weeks will incur a higher tuition expense than what is listed above for 12 credits. (bu.edu)
  • If you need an I-20 document from Boston University, the University is required by U.S. government regulations to check that you have adequate funding available for your tuition, fees, and living expenses for the duration of your studies at Boston University. (bu.edu)
  • For students or parents, tuition is an expense. (wikipedia.org)
  • generally
  • Your expenses generally must be related to starting work at your new job location. (irs.gov)
  • These agreements generally reduce expenses to some pre-determined level or by some pre-determined amount. (wikipedia.org)
  • Generally, unlike future performance, expenses are predictable. (wikipedia.org)
  • Leading sources of information about charities, including GuideStar, Charity Navigator and the Wise Giving Alliance, say that the support service expense ratio (i.e. "overhead") can be an important indicator, especially if it is at one extreme or another, but generally speaking it is just as important to look at other factors including transparency, governance, leadership, and results. (wikipedia.org)
  • audit
  • In March 2013, and before the Deloitte audit was complete, Duffy repaid $90,172 for the living expenses he had claimed. (wikipedia.org)
  • Expense management refers to the systems deployed by a business to process, pay, and audit employee-initiated expenses. (wikipedia.org)
  • Software to manage the expense claim, authorization, audit and repayment processes can be obtained from organizations that provide a licensed software, implementation and support service, or alternatively, from software as a service (SaaS) providers. (wikipedia.org)
  • salary
  • In the United States, the use of an expense account can be traced back to George Washington, who chose to forego a salary and relied on an expense account to cover his purchases during his military leadership in the American Revolution. (wikipedia.org)
  • Freight
  • Freight expense Brian Satterfield (May 29, 2008). (wikipedia.org)
  • In accounting, the concept of a freight expense or freight spend account can be generalized as a payment for sending out a product to a customer. (wikipedia.org)
  • Freight expense has a normal debit balance. (wikipedia.org)
  • In relation to other accounts, the Freight Expense account is similar to the "Cost of Sales-Freight" account, but are two totally different entities. (wikipedia.org)
  • While the Freight Expense account is increased for payments towards outgoing goods, the Cost of Sales-Freight account is increased for payments towards incoming goods. (wikipedia.org)
  • When you deliver goods to customers and you pay for the delivery costs, you increase the Freight Expense account with a debit and the Cost of Sales-Freight is unaffected. (wikipedia.org)
  • Receipts
  • If your company had gross receipts of $1 million or less in 2009 or employed no more than 30 workers then, it is eligible to claim a credit for expenses incurred in 2010 to improve access for the disabled, such as constructing entrance ramps or special parking spaces. (kiplinger.com)
  • Typically, a manual process will involve an employee completing a paper, spreadsheet, or Graphical User Interface-based expense report that they then forward, along with the relevant tax invoices (receipts), to a manager or other controller for approval. (wikipedia.org)
  • The accounts staff then key each expense item into the company's finance system before filing the claim and receipts away. (wikipedia.org)
  • Once submitted, the expense report is approved or denied by the employee's supervisor or HR representative, who will check to make sure that receipts match expenses and ask for additional documentation if needed. (wikipedia.org)
  • investor's
  • Seemingly negligible, fees and expenses can substantially reduce an investor's earnings. (wikipedia.org)
  • In a bond fund where the historical gross return might be 8%, a 1% expense ratio will consume approximately 12.5% of the investor's return. (wikipedia.org)
  • In a money market fund where the historical gross return might be 5%, a 1% expense ratio will consume approximately 20% of the investor's historical total return. (wikipedia.org)
  • employee
  • You may be able to deduct moving expenses whether you are self-employed or an employee. (irs.gov)
  • Expense management automation has two equally important aspects: the process an employee follows in order to complete an expense claim (for example, logging a hotel receipt or submitting mobile phone records) and the activity accounts or finance staff undertake to process the claim within the finance system. (wikipedia.org)
  • The employee then provides proof of the purchase with a receipt and all related expenses (from a particular trip or a particular project, for example) will go into the expense report. (wikipedia.org)
  • In general, employees prefer not to file expense reports because the process can be long and tedious, especially if many expenses need to be filed at the same time (or if the employee has waited to do all expense reports at the same time). (wikipedia.org)
  • Money paid to an employee under an accountable expense account is not treated as taxable income to the employee. (wikipedia.org)
  • claim
  • Form 3903, Moving Expenses, is used to claim the moving expense deduction. (irs.gov)
  • The charges were reported to relate to an ongoing investigation about the alleged use of false invoices to claim expenses for the purchase of mobile phones. (wikipedia.org)
  • Independent research evaluating the use of automated expense management systems has confirmed that the cost of processing an expense claim is reduced as the level of automation increases. (wikipedia.org)
  • Report
  • How and when to report moving expenses. (irs.gov)
  • An example of how to report your moving expenses is shown near the end of the publication. (irs.gov)
  • David Sharrock of The Times suggested the government was "close to collapse" and contrasted the expenses with a report that one school in Ireland had requested children to bring their own toilet paper to classes. (wikipedia.org)
  • It emerged that the Conservative-dominated Senate committee had drafted the May 9 report on Duffy's living expenses to reflect less poorly on Duffy, who was at that time a member of the Conservative caucus. (wikipedia.org)
  • In the wake of the Auditor General's report, Speaker Charlie Parker compiled a full list of "questionable expenses", which was made public on February 8. (wikipedia.org)
  • expenditure
  • In common usage, an expense or expenditure is an outflow of money to another person or group to pay for an item or service, or for a category of costs. (wikipedia.org)
  • Centre
  • Such expenses are at the centre of the row between the Stormont watchdog and the Assembly Commission. (bbc.co.uk)
  • paid
  • It is important to maintain an accurate record of expenses you paid to move. (irs.gov)
  • The tax breaks are provided on expenses paid during semesters, trimesters, quarters or summer school during the tax year or for the first three months of the next tax year. (investopedia.com)
  • Qualified higher education expenses must be paid by a parent, a student claimed as a dependent on a parent's tax return or even relatives or friends. (investopedia.com)
  • For tax purposes, the Internal Revenue Code permits the deduction of business expenses in the tax payable year in which those expenses are paid or incurred. (wikipedia.org)
  • As a general rule, expenses are deductible if they relate to a taxpayer's trade or business activity or if the expense is paid or incurred in the production or collection of income from an activity that does not rise to the level of a trade or business (investment activity). (wikipedia.org)
  • Expenses paid to preserve one's reputation do not appear to qualify). (wikipedia.org)
  • The Speaker's list of expenses also showed that Hurlburt had "bought a 42-inch television worth $2,499, which he paid $579 to have installed" in his constituency office in Yarmouth. (wikipedia.org)
  • Fees
  • Those expenses that do not qualify include insurances, medical expenses and student health fees, transportation, personal living expenses or playing sports. (investopedia.com)
  • The Financial Sponsorship Certification , which indicates 1) that your sponsor is willing and able to support you financially for your academic fees and living expenses throughout the duration of your studies at Boston University, and 2) the name of your sponsor and your relationship to your sponsor. (bu.edu)
  • Mutual fund fees and expenses are charges that may be incurred by investors who hold mutual funds. (wikipedia.org)
  • Running a mutual fund involves costs, including shareholder transaction costs, investment advisory fees, and marketing and distribution expenses. (wikipedia.org)
  • amid
  • The committee was renamed, with the expectation of new members being appointed, amid marked dissatisfaction with the expenses scheme developed by IPSA. (wikipedia.org)
  • govern
  • Expense management includes the policies and procedures that govern such spending, as well as the technologies and services utilized to process and analyze the data associated with it. (wikipedia.org)
  • senator
  • He was convicted and in July 2014 he was sentenced to 5 months in prison On 28 July 2014, Callely was sentenced to 5 months in prison for fraudulently claiming mobile expenses at Leinster House while he was a senator. (wikipedia.org)
  • claims
  • Four trips to Britain in 2006 and 2007 led to €21,000 expenses claims for hiring cars. (wikipedia.org)
  • On 1 June 2010, the Taoiseach Brian Cowen requested a written explanation from Callely about his expense claims. (wikipedia.org)
  • Deloitte LLP was retained to provide the Senate with an independent examination of the expense claims. (wikipedia.org)
  • As a result, the Auditor General of Canada examined expense claims made by all the other 116 senators and former senators over a two-year period. (wikipedia.org)
  • By December 6, 2012, the Senate investigation was expanded to include the living expenses of Mac Harb On January 3, 2013, the Senate formally retained Deloitte LLP to review the claims of Brazeau, Harb and Wallin. (wikipedia.org)
  • In February 2013, the Deloitte retainer was expanded to include Mike Duffy's living expense claims. (wikipedia.org)
  • On May 12, 2013, the Royal Canadian Mounted Police announced they were reviewing the expense claims. (wikipedia.org)
  • On August 14, 2013, it was announced that the Auditor General of Canada would be reviewing the expense claims of all senators. (wikipedia.org)
  • The Auditor General recommended that the cases of nine senators, including incumbent senators Pierre-Hughes Boisvenue and Colin Kenny, be referred for RCMP investigation, while 21 other senators were flagged for filling inappropriate expense claims including Senate Speaker Leo Housakos, Senate Government Leader Claude Carignan and Opposition Leader James Cowan. (wikipedia.org)
  • Three peers were suspended on 18 October 2010 due to their expenses claims. (wikipedia.org)
  • specifically
  • Specifically, expense reports are made up of individual line items for reasonable charges while performing a particular job or traveling for a specific job-related requirement. (wikipedia.org)
  • controversy
  • The president sought to turn the expenses controversy to his advantage by saying the fact that his own government had put the expenditures into the public domain proved that it was committed to transparency. (wikipedia.org)
  • certain
  • This publication explains the deduction of certain moving expenses to a new home because you started or changed job locations. (irs.gov)
  • In April 2009 the House of Commons authorities announced that publication of expenses, with certain information deemed "sensitive" removed, would be made in July 2009. (wikipedia.org)
  • Both asked for details of the expenses claimed by certain MPs to be released. (wikipedia.org)
  • made
  • The following day, O'Donoghue made a proper public apology for his expenses claimed while in office as Irish Minister for Arts, Sport and Tourism. (wikipedia.org)
  • accounts
  • In double-entry bookkeeping, expenses are recorded as a debit to an expense account (an income statement account) and a credit to either an asset account or a liability account, which are balance sheet accounts. (wikipedia.org)
  • Expenses are considered temporary accounts in this equation, because at the end of the period, expense accounts are closed. (wikipedia.org)
  • Because expense accounts decrease the credit balance of owner's equity, expenses must be debited. (wikipedia.org)
  • At the end of the year, expense accounts need to be closed, or zeroed out. (wikipedia.org)
  • Expense accounts need to be closed because they are temporary, meaning that they pertain only to a given accounting period and won't carry over into the next one. (wikipedia.org)
  • When expense accounts are closed, they close to another temporary account, known as Income Summary. (wikipedia.org)
  • So, the expense accounts must be credited, and the Income Summary will be debited. (wikipedia.org)
  • Accountable expense accounts are subject to a variety of restrictions. (wikipedia.org)
  • Expense accounts are also privately regulated by internal auditors for many employers, often to ensure funds are handled appropriately. (wikipedia.org)
  • Freedom
  • The committee was established on 22 January 2009 as one of several motions put forward by the government attempting to deal with the issue of MPs' expenses which were due to be released under the Freedom of Information Act 2000. (wikipedia.org)
  • In January 2009 Harriet Harman, Leader of the House of Commons, tabled a motion which would exempt MPs' expenses from being disclosed under a Freedom of Information request, in order to prevent any further disclosure of information. (wikipedia.org)
  • Below
  • They show expenses much below the limit, many less than 50 per cent," said a panel official. (telegraphindia.com)
  • The expense estimates below are for visiting international students studying at Boston University during Summer Term 2019. (bu.edu)
  • Note:The table below counts the total amount claimed by the MLA in expenses. (wikipedia.org)
  • revenue
  • The company said its financial performance fluctuates from quarter to quarter based on the timing of product revenue, partnership payments and drug development expenses. (marketwatch.com)
  • interpretation
  • The statement recognises differences that remain over the interpretation of the panel's determination on expenses in March 2012. (bbc.co.uk)
  • The most common interpretation of whether an expense is of capital or income variety depends upon its term. (wikipedia.org)
  • Credit
  • Your sponsor's official bank statement, letter, or credit reference stating the availability of the minimum estimated expenses as indicated in the table above. (bu.edu)
  • types
  • These latter types of expenditures are reported as expenses when they are depreciated by businesses that use accrual-basis accounting, which is most large businesses and all C corporations. (wikipedia.org)