Charged to an expense account, fully reducing reported profit of that year, as is appropriate for expenditures for items with useful lives under one year.
Charged to an expense account, reducing the profit for a given project or assignment. The term is associated with charges connected to networking and other events used to attract clients or investors. Expensed items are written off on taxes as they reduce profit.
With respect to consulting fees, the proper allocation of the amount to be expensed or capitalized and the appropriate amortization periods are determined when a new facility is selected and placed in service.