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The accounting-standards board's panel put as its first order of business the treatment of barter deals, in which Internet companies exchange Web advertisements, which are recorded as both revenue and offsetting expense.
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In reality, almost nothing happened, but both companies involved in a swap were able to report revenue without offsetting expenses.
Mr. Hennessy, the lawyer for Ms. McDonagh, said that carriers reaped tens of millions of euros each year from cancellation insurance they sell to passengers, which goes toward offsetting expenses when things go wrong.
Once it's done expensing the $100 million, Cendant will enjoy tens of millions of dollars in annual royalty revenues, scot-free of offsetting expenses.
Tax breaks for organ donors are designed to increase organ donations by offsetting expenses that may deter viable donors, including the costs of travel, lodging, medical care and lost wages.
Each guest is allowed to bring in one bottle of booze to help offset expenses.
Using them to offset expenses does not create a fair representation of the company's operations, accounting experts said.
The Yale School of Management provides students with stipends to help offset expenses associated with study/professional development trips and conferences.
While the rebates may be used to offset expenses charged to individual employees' accounts, they often cover overall plan expenses or pay for additional services without employee approval.
Developers are to pay for the material and the cost of installing the designs but are allowed to seek sponsorship to offset expenses.
The U.S.O.C. relies on private donations to offset expenses not covered by corporate sponsorships, but the economic downturn has blighted the giving tree.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com