The prepayment must be for the purchase of feed, not just a deposit. The prepayment must be for a business purpose, not just to reduce tax liability. The deduction resulting from the prepayment must not materially distort income. Rent or lease payments for equipment and buildings are deductible farm expenses.
Work in process, work in progress, (WIP) goods in process, or in-process inventory are a company's partially finished goods waiting for completion and eventual sale or the value of these items. These items are either just being fabricated or waiting for further processing in a queue or a buffer storage.
Daily Progress Notes (The âSOAPâ note) Progress notes are to be written by the resident or intern on each covered medical patient on a daily basis. The daily progress note serves as a written medical-legal document that: Serves as a record of a patientâs hospitalization.