expense

expense
That which is expended, laid out or consumed. An outlay; charge; cost; price. The expenditure of money, time, labor, resources, and thought. That which is expended in order to secure benefit or bring about a result. Shinrone Farms, Inc. v. Gosch, Iowa, 319 N.W.2d 298, 304.
See also costs
- fee.
@ accrued expense
One which has been incurred in a given period but not yet paid.
+ accrued expense
Expense incurred but not yet billed for nor paid
@
- business expense
@ current expense
Normal expense incurred, for example, in daily operations of a business.
See operating expenses, below.
@ operating expenses
The cost of operating a business, such as rent, wages, utilities, and similar day to day expenses, as well as taxes, insurance, and a reserve for depreciation.
+ operating expenses
Those expenses required to keep the business running, e.g. rent, electricity, heat. Expenses incurred in the course of ordinary activities of an entity
@ ordinary expense
@ out of pocket expenses
@ out-of-pocket expenses
A direct expense which requires the immediate outlay of cash in contrast to an accrued expense.
+ out-of-pocket expenses
Said of an expenditure usually paid for with cash. An incremental cost
@ prepaid expense
Payment of rent, interest, insurance, or similar expenses, prior to actual due date for payment. I.R.C. No.No. 162, 213.
Costs that are deductible from current income as opposed to capital expenditures. Cash basis as well as accrual basis taxpayers are generally required to capitalize prepayments for rent, insurance, etc. that cover more than one year. Deductions are taken during the period the benefits are received.
+ prepaid expense
An expense paid before it is currently due. In accounting, an expenditure for a benefit not yet enjoyed, e.g. pre-paid insurance premiums from the standpoint of the insured. Cash basis as well as accrual basis taxpayers are generally required to capitalize prepayments for rent, insurance, etc. that cover more than one year. Deductions are taken during the period the benefits are received
@ tax deduction
Certain expenses such as those directly related to production of income are deductions from gross income for tax purposes
+ tax deduction
A subtraction from gross income in arriving at taxable income. A deduction differs from a tax credit in that a deduction reduces taxable income and a credit reduces tax liability.
See also deduction
@

Black's law dictionary. . 1990.

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Synonyms:
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  • expense — ex‧pense [ɪkˈspens] noun 1. [countable, uncountable] ACCOUNTING an amount of money that a business or organization has to spend on something: • Most advertisers look upon advertising as an expense and not an investment, which is a mistake. • The… …   Financial and business terms

  • expense — ex·pense 1 n: financial burden or outlay; specif: an item of business outlay chargeable against revenue for a specific period busi·ness expense: an expense made in furtherance of one s business esp. as part of the cost of operating a business in… …   Law dictionary

  • Expense — Ex*pense , n. [L. expensa (sc. pecunia), or expensum, fr. expensus, p. p. of expendere. See {Expend}.] 1. A spending or consuming; disbursement; expenditure. [1913 Webster] Husband nature s riches from expense. Shak. [1913 Webster] 2. That which… …   The Collaborative International Dictionary of English

  • expense — [ek spens′, ikspens′] n. [ME < Anglo Fr < LL expensa (pecunia), paid out (money) < L expensum, neut. pp. of expendere: see EXPEND] 1. Obs. the act of expending; a spending or using up 2. financial cost; fee; charge 3. any cost or… …   English World dictionary

  • expense — late 14c., from Anglo Fr. expense, O.Fr. espense money provided for expenses, from L.L. expensa disbursement, outlay, expense, prop. neut. pl. pp. of L. expendere to weigh out money, to pay down (see EXPEND (Cf. expend)). The verb is 1909, from… …   Etymology dictionary

  • expense — ► NOUN 1) the cost incurred in or required for something. 2) (expenses) specific costs incurred in the performance of a job or task. 3) something on which money must be spent. ● at the expense of Cf. ↑at the expense of …   English terms dictionary

  • expense — cost, *price, charge …   New Dictionary of Synonyms

  • expense — [n] cost, payment amount, assessment, bite*, bottom line*, budget, charge, consumption, debit, debt, decrement, deprivation, disbursement, duty, expenditure, forfeit, forfeiture, insurance, investment, liability, loan, loss, mortgage, obligation …   New thesaurus

  • Expense — Expenses redirects here. For the row about members expenses in the UK Parliament which started about May 2009, see United Kingdom Parliamentary expenses scandal. Accountancy Key concepts Accountant · Accounting period ·… …   Wikipedia

  • expense — noun 1 cost/money spent on sth ADJECTIVE ▪ considerable, enormous, great, huge, significant, vast ▪ added, additional, extra …   Collocations dictionary

  • expense — ex|pense [ ık spens ] noun *** 1. ) count an amount of money you spend in order to buy or do something: Rent is our biggest expense. You can claim part of your telephone bill as a business expense. traveling/medical/legal expenses a factory s… …   Usage of the words and phrases in modern English

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