Expense Accounts
In financial accounting, expense is:
The consumption of the business' own resources (assets). Examples: consumption of supplies, cash, materials inventory and deterioration of equipment etc.
OR
The creation of a liability against the business when it consumes resources from outside. Examples: use of electricity expense, interest expense etc.
Expense Accounts List
Few examples of expense accounts are:
- Supplies Expense
- Utilities Expense
- Salaries Expense
- Depreciation Expense
- Insurance Expense
- Advertizing Expense
- Bad Bebts Expense
- Fuel Expense
- Rent Expense
- Interest Expense
- Licence Expense
- Telephone Expense
- Tax Expense
- Warranties Expense
- Micellaneous Expense
by Irfanullah Jan, ACCA and last modified on