The difference between the cost and expense--

The difference between the cost and expense--

The difference between the cost and expense

1. In language

2. The location in the financial statements

the cost in the balance sheet is the cost of unused or charge fees that are considered to be beneficial in the future . Examples : rent paid in advance (prepaid rent )

expense in the income statement is the cost that has been used and does not benefit in the future . Examples : rent expense

3. Accounting period

costs , over periods of one year . A capital expenditure

load , periods of less than one year . is a revenue expenditure (revenue expenditure)

4. The nominal amount issued

costs tend to be relatively large for example machines

Expenses tend to be relatively small sample machine servicing costs .

Seeyouin the next post! ;-)

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