Organizations must report expenses as they are incurred, though payment may be made later.

At the end of 5 years, entities should have sufficient expense data to be able to report expenses rather than outlays.

Schedule F is used to report income and expenses related to farming.

It reported expenses of $10.8 million, leaving a surplus of $310,000.

Each taxpayer must also use a consistent accounting method, which is a set of rules for determining when to report income and expenses.

Fossella also said he fired the accountant who was responsible for reporting his campaign contributions and expenses.

Because the company also failed to report off-setting expenses, no additional income taxes were due.

But the company also reported higher expenses and slower growth, and pledged to investors that it would plan better for this year.

Each has different reasons for reporting revenues, expenses, profits and losses.

After all, filers do not use the document to report income or expenses.