Part 1 of Essay
An Analysis of The Term Actually Incurred In Section 11(a) of Income Tax Action STUDENT NO. CRWPET005 APRIL 1996 A TECHNICAL REPORT TO BE PRESENTED TO THE DEPARTMENT OF ACCOUNTING UNIVERSITY OF CAPE TOWN IN PARTIAL FULFILMENT OF ....

Part 2 of Essay
.... when it is probable that an outflow of resources embodying economic benefits will result from the settlement of a present obligation and the amount at which the settlement will take place can be measured reliably... Recognition of expenses: 94. Expenses are recognised in the income statement when a decrease in future economic benefits related to a decrease in an asset or an increase of a liability has arisen that can be measured reliably. ....