what does it mean to expense
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Definitions &Translations In common usage, an expense or expenditure is an outflow of money to another person or group to pay for an item or service, or for a category of costs. For a tenant, rent is an expense. For students or parents, tuition is an expense. Buying food, clothing, furniture or an automobile is often referred to as an expense.
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prepaid expense definition prepaid expense. A current asset representing amounts paid in advance for future expenses. As the expenses are used or expire, expense is increased and prepaid expense is decreased. Related Q&A.
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Expense, Expense Category Accounts Definition, Meaning Explained, Accounting and Budgeting Examples This article further defines and explains expense and expense-related terms. Note especially that expenses appear in two contexts: Firstly, expense as a concept in financial accounting. In this context, expenses are especially prominent on the Income statement. Secondly, expense as a concept in budgeting. Budgets exist primarily to plan, manage and control expense spending.
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- Note especially that expenses appear in two contexts: 1  Firstly, expense as a concept in financial accounting. In this context, expenses are especially prominent on the Income statement. 2  Secondly, expense as a concept in budgeting. Budgets exist primarily to plan, manage and control expense spending.
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incidental expense Switch to new thesaurus. incidental, minor expense. plural, plural form - the form of a word that is used to denote more than one. expense - money spent to perform work and usually reimbursed by an employer; he kept a careful record of his expenses at the meeting.
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expenses definition 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.
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- 1 An example of an expense is the financial burden of buying a brand new car. 2  An example of an expense is the potential lost time in a project after the direction is changed.  Obs. the act of expending; a spending or using up.
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expenses definition 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.
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Expense, Expense Category Accounts Definition, Meaning Explained, Accounting and Budgeting Examples Expenses are center stage in budgeting, planning, and preparing the income statement report. Expense is an accounting and budgeting term usually referring to something a company or organization spends money on.xpense is an accounting and budgeting term usually referring to something a company or organization spends money on.
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What is an 'Accrued Expense' A prepaid expense is an asset on the balance sheet. Due to accounting principles, expenses are often accrued on the balance sheet and expensed in a later period. Markets. Accrued interest has two meanings. In accounting, it is interest that has been earned, but the time for payment has not yet occurred.
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What is a 'Prepaid Expense' What is a 'Prepaid Expense'. A prepaid expense is a type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received in the near future.
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expense Definition of expense for English Language Learners. : 1  the amount of money that is needed to pay for or buy something. : 2  an amount of money that must be spent especially regularly to pay for something. : 3  something on which money is spent.
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expense Use expense in a sentence. Knowing the expense of what it costs to run your business will tell you how much you need to charge to ensure a profit. 16 people found this helpful. Determining what the expense to make a product is will allow you to come up with the right price to charge.
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Expense Expense is simply a decrease in the net assets of the entity over an accounting period except for such decreases caused by the distributions to the owners. The first aspect of the definition is quite easy to grasp as the incurring of an expense must reduce the net assets of the company.
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expense What is the meaning of Expenses? Expenses are money spent or cost incurred in an organization's efforts to generate revenue, representing the cost of doing business. . Expenses may be in the form of actual c … ash payments (such as wages and salaries), a computed expired portion (depreciation) of an asset, or an amount taken out of earnings (such as bad debts). .
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What Is a Marketing Expense? A marketing expense is “an amount of money the company spends on marketing,” according to Cambridge Dictionaries Online. Marketing expenses are an important consideration for all businesses because marketing is a primary business function that creates a customer for the business.arketing expenses are calculated in the equation to determine business profit. When calculating business profit, marketing expense is subtracted from business profit.
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Expense Expenses are the decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabilities that result in decreases in equity, other than those relating to distributions to equity participants (IASB Framework).
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Expense Expense. Definition: An expense is the reduction in value of an asset as it is used to generate revenue. If the underlying asset is to be used over a long period of time, the expense takes the form of depreciation, and is charged ratably over the useful life of the asset.xpense. Definition: An expense is the reduction in value of an asset as it is used to generate revenue. If the underlying asset is to be used over a long period of time, the expense takes the form of depreciation, and is charged ratably over the useful life of the asset.
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expense Money spent or cost incurred in an organization's efforts to generate revenue, representing the cost of doing business. Expenses may be in the form of actual cash payments (such as wages and salaries), a computed expired portion (depreciation) of an asset, or an amount taken out of earnings (such as bad debts). Expenses are summarized and charged in the income statement as deductions from the income before assessing income tax.
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Expense Expenses redirects here. For the row about members' expenses in the UK Parliament which started about May 2009, see United Kingdom Parliamentary expenses scandal. In common usage, an expense or expenditure is an outflow of money to another person or group to pay for an item or service, or for a category of costs.For a tenant, rent is an expense. For students or parents, tuition is an expense. Buying food, clothing, furniture or an automobile is often referred to as an expense.xpenses redirects here. For the row about members' expenses in the UK Parliament which started about May 2009, see United Kingdom Parliamentary expenses scandal. In common usage, an expense or expenditure is an outflow of money to another person or group to pay for an item or service, or for a category of costs.
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How many times can I use the VA loan benefit? ***VA loans call for a borrower paid funding fee, for 1st time user this fee is 2.15 percent. The fee for second-time use is 3.3 percent.
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Operating Expenses OPEX Definition, Meaning Explained, Examples Formal definition: Expenses use up assets. 1  An expense for office supplies, for instance, uses up cash assets. Spending for office supplies is an operating expense. 2  Purchasing a capital asset (such as a factory machine) results in an asset that decreases book value over time through depreciation expense.
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Definitions &Translations Princeton's WordNet(0.00 / 0 votes)Rate this definition: 1  spending, disbursement, disbursal, outlay(noun) the act of spending or disbursing money. 2  outgo, spending, expenditure, outlay(noun) money paid out; an amount spent.
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- What is a prepaid expense? A prepaid expense is an amount paid for a good or service in advance of receiving that good or service. It is an expense that has been paid for before the actual expense is incurred. In accrual basis accounting, expenses are recognized in the period in which they occur.
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- Define expense. expense synonyms, expense pronunciation, expense translation, English dictionary definition of expense. n. 1. a. Something spent to attain a goal or accomplish a purpose: an expense of time and energy on the project. b. A loss for the sake of something gained;...
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Internal Revenue Service (IRS) Definition of an Expense Internal Revenue Service (IRS) Definition of an Expense. Posted on 04/03/2013 by Dave in Income Taxes. The Internal Revenue Service defines a business expense as ‘ordinary’ and ‘necessary’. Ordinary expenses are those costs typically incurred in your industry. So a restaurant would not ordinarily purchase vaccines. And a medical practice would not purchase 50 heads of lettuce.