noun the cost required for something; the money spent on something
In finance, expenses refer to the costs incurred in order to generate revenue or run a business. This includes items such as salaries, rent, utilities, and supplies.
In accounting, expenses are recorded on the income statement as part of the cost of goods sold or operating expenses. They are subtracted from revenue to calculate net income.
In taxation, expenses can be deducted from income to reduce taxable income. This includes business expenses, medical expenses, and other qualifying expenses.
In business management, controlling expenses is essential for maintaining profitability and efficiency. Managers analyze expenses to identify cost-saving opportunities.
In personal finance, expenses are the money spent on goods and services. Budgeting and tracking expenses are important for financial planning and saving.
In the context of a writer, expenses may refer to costs related to research materials, travel for interviews or book signings, or marketing and promotion activities.
For a psychologist, expenses could include costs for continuing education courses, office rent, utilities, or professional liability insurance.
An accountant may refer to expenses as the costs incurred by a business in order to generate revenue, such as salaries, rent, utilities, or supplies.
In the consulting industry, expenses may include travel costs to client sites, professional development courses, or marketing and advertising expenses.
For an entrepreneur, expenses could encompass a wide range of costs related to starting and running a business, such as product development, marketing, rent, utilities, or salaries for employees.