ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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DISCRETIONARY SPENDING Definition
DISCRETIONARY SPENDING consists of US government expenditures that are set on an annual basis. It is a budget that members of Congress can adjust on a yearly basis. Examples of discretionary spending in the United States:
-Environmental Protection Agency
-Department of Veterans Affairs
When looking to cut costs, lawmakers usually look to trimming discretionary spending. See MANDATORY SPENDING.
Learn new Accounting Terms
E&O INSURANCE is an errors and omissions, or E&O, liability policy (often called malpractice insurance) covers liability for negligent acts, errors and omissions committed by professionals, including physicians, accountants, lawyers, etc.
ADMINISTRATIVE RECEIVER is an Insolvency practitioner appointed when a company goes into receivership (work out). A company may go straight to administrative receivership, presided over by an administrative receiver, usually known simply as the receiver.