Attributable profit is the portion of the total estimated profit from a long-term contract, reflecting the fair share of work completed, minus estimated remedial, maintenance, and other non-recoverable costs at a specific accounting date.
Discretionary costs are expenses that can be easily adjusted or managed by a firm’s management, often including items such as advertising, repairs and maintenance, and research and development.
A heritage asset is a tangible asset deemed historically, artistically, or scientifically significant, often recognized for its cultural or knowledge contribution and distinctive accounting treatment.
Costs incurred in purchasing and maintaining a lease, which are capitalized as part of the basis of the property.
