Revenue and expenditures

It is the amount denoted on invoices as the price and recorded in bookkeeping records as an expense or asset cost basis. Opportunity costalso referred to as economic cost is the value of the best alternative that was not chosen in order to pursue the current endeavor—i. It represents opportunities forgone.

Revenue and expenditures

Under the federal law gambling can be conducted on "Indian land. As this definition points out, it is not necessary for land to be actually part of a reservation for gambling to be conducted on it.

Revenue and expenditures

In theory, an Indian tribe could buy land anywhere in a state and operate a casino on it, by having it declared Indian trust land by an Act of Congress, a court decision or settlement or through an application through the U. Department of the Interior. Who regulates Indian Gaming?

Indian tribes are the primary regulators of Class II gaming.

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Regulation of Class III gaming may be addressed in Tribal-State compacts and varies by state with tribes remaining the primary regulator in most states. What types of gambling on Indian land does federal law regulate? Federal law regulates two distinct types of gambling on Indian land.

Under the IGRA, there are 2 major kinds of gambling, each with its own regulatory mechanism. IGRA also recognizes a third form of Indian gaming, class I meaning traditional tribal ceremonial gamesbut exempts it from both federal and state jurisdiction.

IGRA defines Class II gaming as bingo; when played in the same location as bingo — pull tabs, lotto, punch boards, tip jars, instant bingo, other games similar to bingo; and non-house banked card games authorized or not explicitly prohibited by the state in which the tribal operation is located.

What is Revenue Expenditure?

Class III gambling is conducted under a compact that each tribe negotiates with the government of the state in which it is located. The compacts can apply those state laws to class III gambling that each party believes necessary for regulation.

Class III gaming authorized by the Oklahoma State-Tribal gaming compacts, consists of electronic amusement games, electronic bonanza style bingo games, electronic instant bingo and non-house banked card games.This is GAO's first annual report to Congress in response to a new statutory requirement that GAO identify federal programs, agencies, offices, and initiatives, either within departments or governmentwide, which have duplicative goals or activities.

Revenue and expenditures

Capital expenditures are for fixed assets, which are expected to be productive assets for a long period of time. Revenue expenditures are for costs that are related to specific revenue transactions or operating periods, such as the cost of goods sold or repairs and maintenance expense.

Th. The method adopted under this subsection shall apply to all expenditures described in paragraph (1). The method adopted shall be adhered to in computing taxable income for the taxable year and for all subsequent taxable years unless, with the approval of the Secretary, a change to a different method is authorized with respect to part or all of such expenditures.

Industry observers often delve into revenue and expenditure accounts because these items represent the bread and butter of a company's operating activities. Nobody knows when a gain or loss will.

How do capital and revenue expenditures differ? | Investopedia

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