LEASEHOLD IMPROVEMENTS Definition

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LEASEHOLD IMPROVEMENTS are those repairs and / or improvements, usually prior to occupancy, made to a leased facility by the lessee. The cost is then added to fixed assets and amortized over the life of the lease.

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CERTIFIED PUBLIC ACCOUNTANT (CPA) is an accountant licensed to practice public accounting.

RETROACTIVE is to affect and modify things past, e.g. a retroactive tax increase.

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