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An expense and cost recovery system (ECRS) is a specialized subset of "extract, transform, load" (ETL) functioning as a powerful and flexible set of applications, including programs, scripts and databases designed to improve the cash flow of businesses and organizations by automating the movement of data between cost recovery systems, electronic billing from vendors, and accounting systems.
The Modified Accelerated Cost Recovery System (MACRS) is the current tax depreciation system in the United States. Under this system, the capitalized cost (basis) of tangible property is recovered over a specified life by annual deductions for depreciation. The lives are specified broadly in the Internal Revenue Code.
Depletion is an accounting and tax concept used most often in the mining, timber, and petroleum industries. It is similar to depreciation in that it is a cost recovery system for accounting and tax reporting: "The depletion deduction" allows an owner or operator to account for the reduction of a product's reserves.
Cost recovery method is used when there is an extremely high probability of uncollectable payments. Under this method no profit is recognized until cash collections exceed the seller's cost of the merchandise sold.
Companies that succeed during a recovery tend to enjoy many advantages. Access to capital increases as they become more attractive to investors and valuations are likely to grow.
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The installment sales method is typically used to account for sales of consumer durables, retail land sales, and retirement property. [3] Under the cost recovery method, another method to recognize income after the sale is made, no profit is recognized until all the costs are recovered. [4]
Klatskin's monthly cost recovery fee was 97 cents last year but more than doubled this year to $1.97. It will rise again to $3 on Jan. 1, according to the company. Klatskin, 69, was confused.