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

Written by Irfanullah Jan