expense


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Expenses

Costs of living or doing business. Examples of personal expenses include the mortgage payment, groceries, and gas for the car. Examples of business expenses include the cost of materials, employee salaries, and other overhead. Expenses also include unusual costs like medical bills or employee bonuses. Businesses attempt to keep costs to the lowest possible amount without sacrificing revenue. This maximizes profit. Likewise, households generally attempt (and in many cases must) keep expenses lower than household income. While business expenses are generally tax deductible, most personal expenses are not.

expense

any expenditure which is chargeable to the trading activities of an accounting period. This includes cash expenditures on materials and labour, and non-cash items of expenditure such as credit purchases and depreciation.
References in periodicals archive ?
This exception requires a determination of whether TLC (1) incurred the per-diem expenses "under a reimbursement or other expense allowance arrangement with such other person" (its trucking company clients) and, if so, (2) "account[ed] .
When an employee exercises an NQSO, the company compares the allowable tax deduction with the related financial statement compensation expense computed earlier and credits the tax benefit associated with any excess tax deduction to APIC.
Expense Billing Markup - Provides the ability to automatically apply a percent markup on an expense item.
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The solution includes support for all expense process features, including manager approval, accounts payable review, re-submission, short pay, rejection and audit.
Since it is beneficial to remove unnecessary and onetime expense items when valuing an agency, keeping track of these items is critical.
The ten largest banks, which reduced their staffs by more than 12,000 full-time equivalents, had particularly large increases in this expense category.
Since integrating their corporate travel card and expense management program, Moen has reported improvements in process efficiencies, cost and time savings.
It also includes expense allowances for travel, transportation or other business expenses received under a nonaccountable plan and amounts paid to cover a cleric's self-employment or income taxes.
Three major technology companies that want to recoup their Y2K-related remediation expenses from their insurers are relying on a centuries-old maritime sue-and-labor clause, but are their corporate vessels seaworthy?
For example, in certain years for several study participants, modeling under one set of alternate interest rates and asset returns resulted in an annual change in pension and postretirement benefit expense in excess of 500 percent and a change in net income in excess of 50 percent over the results under Statements 87 and 106.