Charging clients Flashcards
1
Q
What is revenue expenditure
A
regular day to day expenditure expenses practice fee PI insurance Compensation fund contribution CPD courses Legals clubs and societies
2
Q
what is capital expenditure
A
purchase of assets which business intends to keep and use - fixed assets
3
Q
what is depreciation
A
assets loss in value - recorded as an expense each year
4
Q
Straight line method
A
Purch price - anticipated selling price / number of years it is expected to be retained
5
Q
Calculating how much to charge per transaction
A
Expenses/ number of cases = amount per case
