by Online Tutorial & Training Guide | Jan 15, 2026 | Chart of Accounts, Expenses, Terminologies
Payments to outside contractors or freelancers who provide part of a contracted service. Common in construction, design, and professional services. Considered a direct operating expense.
by Online Tutorial & Training Guide | Jan 12, 2026 | Chart of Accounts, Expenses, Terminologies
The cost of borrowing money through loans or bonds. Recorded based on accruals, not just payments. Impacts net income directly.
by Online Tutorial & Training Guide | Jan 4, 2026 | Chart of Accounts, Expenses, Terminologies
Spending on meals, events, or hospitality to build client relationships. Subject to regulatory and tax restrictions. Needs proper documentation for deductions.
by Online Tutorial & Training Guide | Dec 29, 2025 | Chart of Accounts, Expenses, Terminologies
Costs for business permits, registration, or property taxes. Necessary to operate legally. Recurs annually or periodically.
by Online Tutorial & Training Guide | Dec 29, 2025 | Chart of Accounts, Expenses, Terminologies
The systematic allocation of an asset’s cost over its useful life. Reflects wear, tear, and obsolescence. Recorded periodically to match expense with revenue.
by Online Tutorial & Training Guide | Dec 20, 2025 | Chart of Accounts, Expenses, Terminologies
Direct costs of producing goods sold, including materials and labor. It directly impacts gross profit. Accurate calculation is essential for pricing and profitability analysis.
