What Are Considered Expenses

In accounting, all those Accounts are considered as Expenses which are incurred for the purpose of earning revenues for the business. Expenses are temporary accounts and these have no balances at the end of the accounting period. There are two main types of expenses i.e., Direct Expenses and Indirect Expenses. These are transferred to Income Summary Account and then to Income Statement or Trading & Profit And Loss Account.

 

Here are the lists of Expenses (Including Both Direct And Indirect Expenses):

 

1. Purchases 2. Cost of Sales 3. Operating Expenses 4. Selling And Marketing Expenses 5. General And Administrative Expenses 6. Non Operating Expenses 7. Other Expenses 11. Miscellaneous Expenses

 

Below are expenses examples lists derived from above list of expenses:

 

(i) Rent (ii) Wages (iii) Commission (iv) Salaries (v) Advertising (vi) Marketing

(vii) Depreciation (viii) Utilities (ix) Consulting Fees Paid (x) Accounting Fees (xi) Rent Paid

(xii) Repairs (xiii) Office Supplies Ex. Paid (xiv) Travelling Exp. Paid (xv) Telephone Exp. Paid

(xvi) Loss on Sale of Fixed Assets (xvii) Discount Allowed