Outstanding Expenses are expenses which are due at a specific point of time for example if the actual date to pay the rent is 1st july and we don't pay the rent till august end, then it is called the outstanding Expenses (outstanding rent)
prepaid Expenses are expenses which are paid in advance for example if we paid the premium of Insurance in advance i.e before due date, then it calls the prepaid expenses.
give the full chart of the direct and indirect expenses . detail about this
General and administration expenses are those expenses incurred to run day to day business activities. Overhead expenses are factory expenses incurred to run the day to day activities of running production process.
Outstanding expnese is that expense which is already incurred but amount is not paid while unexpired expenses are those expenses for which payment is made in advance but actually expenses are not yet incurred.
An expense is money you pay to but something, a good or a service.A loss is when you balance expenses against income and find out that there was less income than your expenses.
Salaries payable is a out standing expenses for time being its show as a liability account.
give the full chart of the direct and indirect expenses . detail about this
General and administration expenses are those expenses incurred to run day to day business activities. Overhead expenses are factory expenses incurred to run the day to day activities of running production process.
Outstanding expnese is that expense which is already incurred but amount is not paid while unexpired expenses are those expenses for which payment is made in advance but actually expenses are not yet incurred.
Expenses already incurred but not necessarily for the current accounting period is prepaid expense. In the case of advance, the expenses even though identified, have not been incurred but only cash has been taken out for the purpose of incurring such expense.
An expense is money you pay to but something, a good or a service.A loss is when you balance expenses against income and find out that there was less income than your expenses.
Salaries payable is a out standing expenses for time being its show as a liability account.
Expenses more than income is called "Loss" Income over expenses called "Profit"
Operating expense is the cost of running your day-to-day business. Operating expenses include rent, utilities, supplies, and insurance. Direct expense is an expense that varies with changes in the cost object. Direct expenses include materials needed to manufacture a product, freight charges to transport product, and taxes related to the sale of goods.
There is no similarity between the assets and expense only prepaid/expired expenses is consider our assets.
Miscellaneous expenses means small sundry expenses of business while other expenses means expenses which are not directly related to the primary operations of business.
When payment for insurance is made advance of actual expenses then it is called prepaid insurance which is asset for business until insurance benefit is utilized while insurance expense is actual insurance expense when insurance benefit is taken.
A fixed expense is an expense that will cost you the same month by month. Such as rent, mortgage, car payment, student loans, ect. Flexible expense, refers to expenses that vary month by month, like your gas, phone, and electric bill. Flexible expenses may also include money budgeted for clothes,food, entertainment, and savings. Things that may not cost you the same month to month. It's important to know the difference so you can budget accordingly. Source: http://answers.yahoo.com/question/index?qid=20071101143515AABFl80