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.
In general geological and geophysical (G&G ) expenditures are costs incurred by an oil and gas exploration and production company to obtain, accumulate, and evaluate data that will serve as the basis for the acquisition or retention of oil and gas properties. G&G expenditures are usually associated with a survey, such as a seismic, magnetic, or gravity survey conducted by a specialized service company.