Expense Accounts

Some articles on expenses, accounts, account, expense accounts, expense account:

Double-entry Bookkeeping System - Debits and Credits
... If revenue equals expenses, the following (basic) equation must be true assets = liabilities + equity For the accounts to remain in balance, a change in ... These changes are made by debits and credits to the accounts ... Whether one uses a debit or credit to increase or decrease an account depends on the normal balance of the account ...
US Tax Treatment of Expense Accounts
... In the United States, the use of an expense account can be traced back to George Washington, who chose to forego a salary and relied on an expense account to cover his purchases during his military leadership in ... Under today's tax laws of the United States, expense accounts are treated as either "accountable" or "unaccountable" ... Accountable expense accounts are subject to a variety of restrictions ...

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