PROFESSIONAL SERVICES Definition

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PROFESSIONAL SERVICES are those services offered by university trained professionals, e.g. doctors, lawyers, and accountants for, normally, a professional fee.

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NON-EXPENSE CASH DISBURSEMENT is spending not shown on the income statement, i.e., the expenditure of cash on something that does not appear on the profit-and-loss statement, for example, spending on a fixed asset or discharging part or the entire principal in a debt.

FORWARD, in securities, is an agreement between two parties to exchange specific items, for example, two currencies, at a specified future date and a specified price.

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