Expenditures for business items that have no future life (such as rent, utilities, or wages) and are incurred in conducting normal business activities.
Costs that are matched with revenues on the income statement. For example, Cost of Goods Sold is an expense caused by Sales. Insurance Expense, Wages Expense, Advertising Expense, Interest Expense are expenses matched with the period of time in the heading of the income statement. Under the accrual basis of accounting, the matching is NOT based on the date that the expenses are paid. Expenses associated with the main activity of the business are referred to as operating expenses. Expenses associated with a peripheral activity are nonoperating or other expenses. For example, a retailer's interest expense is a nonoperating expense. A bank's interest expense is an operating expense. Generally, expenses are debited to a specific expense account and the normal balance of an expense account is a debit balance. When an expense account is debited, the account credited might be Cash, Accounts Payable, or Prepaid Expense depending on whether cash was paid at the time of the expense, the payment will be made after the expense was incurred, or the expense was paid in advance. To learn more, see Explanation of Income Statement. To Top
Costs incurred to create revenue.
Costs paid out in connection with booking of cargo and arranging transport (e.g. commission).
Charges incurred, whether paid or unpaid, for operations, maintenance, interest, and other expenses determined to benefit the current fiscal period.
The full accrual cost of delivering services to the community reported in the Statement of Financial Performance. Controlled expenses include cash costs such as employee costs, supplies and services (consumables), grant expenses, and non-cash costs such as depreciation. Administered expenses generally relate to activity over which the agency does not exercise control.
In accounting, an expense is a general term for an outgoing payment made by a business or individual.
An overhead cost incurred by an Insurance Company to investigate and settle loss claims.
Outgoings you incur in the running of your business, employment, property letting and so on or on the purchase or sale of an asset.
Invoices received for things or services you acquired as a current cost of doing business. This is a non-cash value because it does not measure any cash payment, only your promise to pay. If cash is paid at the time of purchase, the amount is usually recorded as both an expense and a payment of cash.
Alternatively expenses are the costs of goods and services used to produce the educational services provided by the institution.
a direct result of cost savings realized from the closure of Mylan Bertek in the current year
Costs incurred by a person. Includes living and food costs, transportation, debt payments, entertainment, etc. When attending school expenses also include tuition, fees and books. See also Discretionary Expenses, Non-discretionary Expenses, Routine Expenses and Non-routine Expenses.
Costs that are incurred which are tracked for later tracking and planning purposes
The costs incurred by a business in earning revenue.
Expenses are the costs of doing business that result from generating revenue. They include parts, salaries, utilities, etc.
Items for which money is spent. Student expenses include tuition, room and board, and other living costs.
Resources used to support the ongoing operations of a business for a specified time period; not equivalent to expenditures or costs.
Costs associated with producing business income, for example, paying wages, rent, buying stationery; but not including capital expenditure.
The costs of maintenance, repairs, and rental costs that are deducted from a property's gross income.
The costs incurred to earn revenues (or sales). Outflows or the using up of assets as a result of the major or central operations of a business; also, liabilities may be increased.
Also called costs. Expenses are decreases in equity. These are dollars paid out to suppliers, vendors, Uncle Sam, employees, charities, etc. Remember to pay bills thankfully, because it takes money to make money. Expenses are listed on the income statement. They should be split into two categories, direct costs and indirect costs. The basic equation for the income statement is: Revenues - Expenses = Profit (You'll see a profit if there are more revenues than expenses, or a loss if expenses are more than revenues.) Remember, all costs need to be included in your selling price. The customer pays for everything. In exchange, you give the customer your services. What a deal
A measure of costs incurred (accrual basis), usually measured for a specific period such as a year.
The cost of doing business
The regular business expenses which an insured may deduct from gross earned income for federal tax purposes. return
(1) the cost of resources used to create revenue. (2) the cost of goods or services acquired in the performance of a job. (3) anything paid out to attain a goal or accomplish an act. All expenses are costs, but not all costs are expenses.... read full article
The costs of operating the co-op. The main expenses usually fall into five main areas: loan payments, taxes, insurance, utilities, and maintenance.
Costs incurred by the business.
are the costs of doing business and are measured over a certain period of time. Expenses show up on the Income Statement and are subtracted from Sales to determine Net Profit.
personal costs incurred by an employee in carrying out activities for an organization that are reimbursed by the employer.
Costs such as salaries, rent, office supplies, advertising and taxes. Listed in the operating expenses category on the statement of earnings.
Money that is paid out; a cost.
The charges consultancies make for expenditure incurred on client programmes, such as print, travel, telephones, mailing costs, and so on. Usually charged monthly in arrears against agreed budgets and often with some items subject to standard consultancy mark-ups.
The costs of court and enforcement action, including court dues and fees payable to lawyers and officers of court carrying out diligence.
The costs incurred to purchase specific goods or services.
Decreases in net total assets. Expenses represent the total cost of operations during a period regardless of the timing of related expenditures.
The total cost of rehab, maintenance, insurance, closing costs, and the like deducted from the gross amount of a property sale.
Source: DSMC Expired costs that are deducted from revenue for a given period. Cost of operation and maintenance of activities on the accrual basis over time, as distinguished from costs of acquisition of property.
The amount of money spent on a regular basis.
The cost of being in business, a means to an end (hopefully, not yours). A part of your business that must be monitored and managed. Also see Financial Management and Profit.
For federal income tax purposes, expenses are divided into four categories: (1) trade or business expenses, (2) expenses in connection with production of income, in connection with management, conservation, or maintenance of property held for production of income, (3) expenses in connection with the determination, collection, or refund of any tax, and (4) personal, family, or living expenses. Expenses in the first three categories are generally deductible in determining taxable income. Expenses in the fourth category are not deductible, except in a few cases (medical expenses, charitable contributions, etc.) in which they are specifically allowed by law. Expenses are to be distinguished from "capital expenditures," defined elsewhere in this glossary.
The operating costs of a business. These include rent, salaries and taxes, for example.
Costs incurred in running a business, e.g. rent, wages, electricity, interest.
These refer to cost of goods and services incurred by the company in the production and sales of physical output or rendering and delivery of services.
The daily costs incurred in running a business.
Costs incurred in the normal course of business to generate revenues.
All normal out-of-pocket business costs incurred while the speaker travels to and from client events. These normally include airfare, taxi-fare, car rental costs, lodging, gratuities, special phone calls having to do with the event, meals, and last-minute presentational materials. Expenses charged to the client should not include anything of personal nature - i.e. movies, alcohol.
The amount it costs you for your everyday living including food, transport, housing, clothing and entertainment.
The cost of administration, marketing and other operations incurred by an insurance company which must be met in addition to the direct costs of providing insurance. See also: COMMISSION.
