Accounting gives a business a way to keep track of its liabilities and expenses. In terms of liability vs. expense accounts, a liability refers to a financial obligation, or upcoming duty to pay. An ...

Expense accounts, also called expense allowances, are plans under which companies reimburse employees for business-related expenses. These expenses include travel, entertainment, gifts, and other ...

Administrative expenses include most expenses that are part of your operating budget. To be classified as an administrative expense, the expense must be a regular business expense that aids the ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. Keeping tabs on business finances – including tracking ...

Most investors are familiar with financial accounting. It is the financial reports and standards we use to review a company's financial performance each quarter and year. Inside the company, though, ...

An expense account sounds simple enough, but it actually means two different things in business. First, it’s the process that lets employees pay for work expenses and get reimbursed by their company.