What component is NOT essential for a detailed expense report?

An essential component of a detailed expense report is the inclusion of original receipts. Collecting and attaching original receipts ensures that there is tangible evidence of the expense incurred, which is critical for verification and auditing purposes. This documentation makes it clear that the amounts claimed in the expense report correspond to actual transactions and helps to guard against potential fraud.

While approval signatures are important for the internal controls and validation of expense reports, they are not as fundamentally critical to the structure of the expense report itself as the other components, such as original receipts, a clear explanation of the business purpose, and the time period in which the expense occurred. These latter elements aid in establishing the legitimacy of the expense, its relevance to business operations, and the timeframe in which the expense was incurred, all of which are crucial for accurate reporting and compliance.

Without original receipts, there could be questions about the authenticity of the claimed expenses. The business purpose helps to link the expense to a specific business activity, while the time period allows for assessing whether the expense falls within the appropriate accounting cycle. Therefore, while approval signatures support the review process, they are not as essential as the other components in ensuring that an expense report is valid and defensible.