Construction Industry Scheme (CIS) Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractorâs payments and pass it to HM Revenue and Customs (HMRC). The deductions count as advance payments towards the subcontractorâs tax and National Insurance. Contractors must register for the scheme.
Depreciation and Amortization. Not all G&A expenses represent cash leaving the company. Depreciation and amortization expenses are a result of the matching principle of accounting. This principle tells us that we should match the costs of producing revenue to the period when the revenue is produced.
Management if for proper amortization. of expenses on financial statements. 3. GL codes on POs cannot be correctedGL codes on POs cannot be corrected. on the PO, so it is important that the. GL is correct on the requisition. 4. Cost transfer may be necessary toCost transfer may be necessary to. correct GL codes after the payment is.