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Define Cost , Expense and Loss in terms of accounting ?

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Question ajoutée par SAJID ALI SHAH SYED , MANAGER OPERATIONS , BANK OF KHYBER
Date de publication: 2014/06/02
SAJID ALI SHAH SYED
par SAJID ALI SHAH SYED , MANAGER OPERATIONS , BANK OF KHYBER

Purchase price of assest is called expense. price/value/cost of used portion or quantity of asset is called expense. When assest become vanished or damaged or lost without providing benefit its cost become loss.

Kokab Rahman
par Kokab Rahman , CEO , Radeya Global

Cost is the historical cost of an item. Expenses arise from normal activities a business entity undertake to earn revenue. Losses arise from extraordinary items like selling a long term asset for less than the book value.

This is a very interesting - and complex - area of accounting.

Having written and published the book Accounting for Beginners, I give accounting and business tips and lessons on my author Facebook page https://www.facebook.com/BeginnersArabic.

RAMAKRISHNAN HARIHARAN
par RAMAKRISHNAN HARIHARAN , Branch Manager,Ibanda Branch,Uganda , Crane Bank Limited

Cost - This is term which gives us business and nothing is free in this world. Cost is also called investment.

Profit - If that Investment gives appreciation value then its called Profit.  

Loss - If that Investment gives depreciation value then its called Loss.

Badar Khan
par Badar Khan , Accounts cum administrative assistant , Al Qassimia Drivng Training Centre.Sharjah

cost result in the ownership of some tthing

expenses do not result in any owner ship for example haircut,rent etc

loss is incurred when expenses are more than the revenue

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