Expense Report Activity 1

Definition of an Expense Report:

An expense report is a financial document that provides a detailed list of expenses,

incurred by an individual during the course of performing necessary job functions (e.g.
travel). Examples of these expenses may include charges for gas, meals, parking or
lodging. Also, this expense report is submitted to the employer for reimbursement.

Upon completion of this assignment, you will be able to:

Identify key terminology used in expense reports.

Complete an expense report.
Identify account codes.
Add, subtract, multiply and divide decimals.

Part 1. Define Expense Report Key Terminology.

Instructions: Using the web as your online resource, define or describe the terminology
in the chart below that are commonly associated with expense reports.

Table 1. Expense Report key terminology.

Terminology. Definition or Description.

1. Name. Employee/person who has incurred the expense

2. For Period & To: Covers the period from when the expenses were incurred
(example Feb 1st to 17th)
3. Department. The name of the department/division the person is associated
with; some will also include the name of their department
head
4. Date. The date when each expense was incurred

5. Description of A written description of the expense being claimed

Claim.

6. Type of Expense. Indication of what category the expense falls within

(Note: this column can (promotions, travel, meals, membership)
be further subdivided
into: hotel, transport,

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fuel, meals, phone,
entertainment,
miscellaneous etc.).

7. Personal Car (KM). Number of kilometers travelled an employee has travelled

using their personal vehicle for business purposes. There will
be a company rate (ie 30 cents per kilometer)
8. Credit Card. Expense was paid by personal credit card, indicate the total
amount
9. Cash. Items/expense were paid by cash

10. HST Total (13%). Harmonized Sales Tax combines Canadian Goods and
Services Tax. The HST must be broken down from the total
amount incurred, check the receipt for this information.
11. FUND. To be taken from the Chart of Accounts provided by the
company, identifies which fun and account the money will be
drawn from.
12. ORG.
.
13. ACCOUNT.
14. Total. The total amount of each expense incurred including HST

15. Send Cheque To. The address of the individual who is being reimbursed for the
expenses they have incurred
16. Employee The signature of the employee submitting the expense claim
Signature.
17. Mileage The company determines the amount that will be paid per
Reimbursement. kilometer to cover all car expenses. For example: .40
cents/km if employee travels 200 km X .40 = $80
18. Grand Total. The total of all expenses incurred all together 9add the total
column)
19. Temporary Monies advanced by the company to an employee to use
Advance. while they are on company business

20. Balance The amount that the individual who incurred the expenses
Requested. wants reimbursed. Not: sometimes only a portion of the grand
total can be reimbursed based on company policy (For
example meal maximums)
21. Balance Returned. The amount that is reimbursed to the claimant

22. Currency. The type of currency that was used (American, Yen,
Canadian)

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23. First Approval. A person who has the authority to approve the expenses
incurred, this will generally by the persons direct supervisor.
24. Second Approval. Another person in charge who has the authority to approve
the expenses incurred. Generally the supervisors
supervisor/manager

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Part 2. Complete an Expense Report.

Instructions: Read the scenario below and use the information provided to complete
the blank expense report posted on DC Connect. You will also be required to show your
calculations when determining costs of the items. Online resources are posted on DC
Connect to help guide you with the mathematical component of this assignment.

Scenario:

Title: Administrative Assistant, Montreal, Finance.

Company: Honda Canada.

Task: Your boss, Steve Zoom, has asked you to purchase some supplies for their
reveal party of the new 2017 Honda Civic. Using your own credit card, you will purchase
the following items and create an expense report, which you will then send to the
accounting department to get reimbursed. Also indicate the correct account code using
the attached chart of accounts.

You will need to show your calculations for the numbers indicated on the next page.

Table 2. List of party supplies.

Item. Quantity. Cost.

1. Balloons. 200. $5.25 for 25/Pack.
2. Streamers. 20. $3.23 for 2/Rolls.
3. Confetti. 100. $1.62 per bag.
4. Party hats. 75. $2.35 per hat.
5. Paper plates & napkins. 100. $7.30 per 25/Pack.
6. Plastic cutlery. 150. $4.80 per 20/Pack.
7. Cake. 5. $50.00 per cake.
8. DJ. 1. $350.00
9. Honda Key chains. 100. $0.00
10. Tablecloths. 25. $3.25 per 2/Tablecloths.

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Chart of Accounts:

Offic Depart
Office e ment

Depart
Location Code ment Code

Toronto 101 Sales 2300

Marketin
Montreal 202 g 2301

Vancouver 303 Finance 2602

Calgary 404 Facilities 2632

Accommodations/ 3122
Meals 0

3122
Office Supplies 4

3133
Memberships 0

Travel (Plane , 3155

Car, Bus) 5

6108
Honoraiums 0

7125
Promotions 0

Program 7114
Development 9

Professional 7115
Development 0

Professional 7115
Development 0

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Membership & 7142
Dues 5

Telecommunicatio 7201
n 0

Other/Miscellaneo 7111
us Supplies 0

Show Your Calculations Here

How did you figure out the individual prices for the following items? Show your
calculations for the numbers indicated.

2. 10 * 3.23
= 32.3 * 0.13
=4.20 + 32.3
= 36.50

3. 100 * 1.62
= 162 * 0.13
= 21.06 + 162
= 183.06

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4. 75 * 2.35
= 176.25 * 0.13
= 22.91 + 176.25
= 199.16

6. 8 * 4.80
= 38.4 * 0.13
= 4.99 + 38.4
= 43.39

10. 13 * 3.25
= 42.25 * 0.13
= 5.49 + 42.25
= 47.74