RUTGERS Acquisitions and Expenditures . What are acquisitions and expenditures? What accounts are in this cycle? What is another name for this cycle? What are the inherent risks associated with this cycle? What happens when you improperly capitalize expenditures? Discuss the FASB statement Concepts 3 ways to recognize expenses Discuss each of the basic acquisition and expenditure activities AND describe the type of transactions involved in each activity - Be sure to explain the bill of lading, voucher, voucher package (3 way match), receiving report, etc Discuss why the purchasing process is important to an organization Consider and discuss how expenses affect this process Rutgers Business School Newark and New Brunswichk