When you consume a resource, expenses are incurred. Resources can be consumed by using a resource up or over time. You would incur an expense for a product when it sells or when you buy office supplies for your business.
Accrued Expenses
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.
Selling Expenses
All expenses incurred are part of income statement of company whle advance expenses or expenses payable are part of balance sheet.
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.
Expenses incurred but not yet paid or recorded are called accrued expenses.
No, you cannot use your 2021 FSA funds for expenses incurred in 2020. FSA funds must be used for expenses incurred in the same plan year.
Accrued Expenses
No, you cannot use your 2022 FSA funds for expenses incurred in 2021.
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.
Incurred expenses before company formation after commencement of business
Selling Expenses
Expenses which are incurred for the selling of product is called Selling Expenses while expenses incurred on administration of general day to day tasks are called administration expenses
Only if expenses where occurred.
All expenses incurred are part of income statement of company whle advance expenses or expenses payable are part of balance sheet.
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.
Selling expenses are those expenses which incurred to selling of services and goods for example market research, sales man salary, and advertising. And other hand general expenses are those expenses which incurred general base in production for example interest charge, services charges, wages and rent are included.