Question: What Are The Types Of Expenses In Accounting?

According to accounting-simplified.com

Salary

Cost of goods sold

Financing cost

Depreciation

Impairment

What are the types of expenses?

Types of Expenses

  • Cost of Goods Sold (COGS) It includes material cost, direct labor cost, and direct factory overheads, and is directly proportional to revenue.
  • Marketing, advertising, and promotion.
  • Salaries, benefits, and wages.
  • Selling, general, and administrative (SG&A)
  • Rent and insurance.
  • Depreciation and amortization.

What are examples of expenses in accounting?

Examples of Expenses

A few examples of the many expenses that a company incurs in earning revenues are: Cost of goods sold. Sales commissions expense. Delivery expense. Rent expense.

What expenses fall under accounting?

Some common expense accounts are: administrative expense, amortization expense, bad debt expense, cost of goods sold, depreciation expense, freight-out, income tax expense, insurance expense, interest expense, loss on disposal of plant assets, maintenance and repairs expense, rent expense, salaries and wages expense,

What are expense items?

An Expense Item is a purchased product or service that fits into a single Expense Category. Expenses entered into Success Tracking can have one or more expense items. An expense item is identified by its expense category along with an item name. Think of the item’s name as a subcategory of the expense category.