What Are Considered Expenses
I n accounting, all t hose Accou nts are considered as Expenses w hich are i ncurred for t he purpose of ear ning revenues for t he b usi ness. Expenses are temporary accounts and t hese have no b ala nces at t he e nd of t he accou nting period. T h ere are two main types of expenses i.e., Direct Expenses and Indirect Expenses. T hese are tra nsferred to Income Summary Account and t he n to Income Statement or Trading & Profit And Loss Account. Here are the lists of Expe nses (Including Both Direct And Indirect Expenses): 1. Purc hases 2. Cost of Sales 3. Operating Expenses 4. Selling And Marketing Expenses 5. General And Administrative Expenses 6. N on Operating Expenses 7. Ot her Expe nses 11. Miscellaneous Expenses B elow are expenses examples lists derived from ab ove list of expe nses: (i) Rent (ii) Wages (iii) Commission (iv) Salaries (v) Advertising (vi) Marketing (vii) Depreciation (viii) Utilities (ix) Co nsu...