SAME STORE SALES Definition

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SAME STORE SALES is used when analyzing the retail industry. It compares sales in stores which have been open for a year or more.

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EXPIRED EXPENSE is an expense having come to an end or become void after passage of a period of time.

PROVISION, generally, is to prepare in advance for an event that is projected to take place in the future. In accounting, it is an amount charged against profits for a specific liability (for example: bad debts, depreciation or taxes). A liability may be known, but the amount is often uncertain. This uncertainty may lead to an adjustment in a later income statement once the final amount of the liability is ascertained.

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