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No. An asset is anything of value a company owns. An expense is the cost of the company to conduct regular business.

Expenses include such things as Salaries/wages for employees, insurance, taxes, electricity, supplies, etc.

There are expenses related to the cost of obtaining assets, such as supply expense, however the supply expense is not used until the assets themselves are used. For example, you purchase $500 in supplies, upon doing inventory of your supplies you have $300 left, at this point you deduct (credit) your supplies to reduce on hand and debit supply expense. Expenses do not directly effect assets, but instead effects Income.

Assets are listed on the Balance Sheet (expenses are not)

Expenses are listed on the Income Statement (Assets are not)

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12y ago

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