Northwestern uses chart string-based systems to manage financial transactions, in which all expenses are classified by five-digit expense account codes (e.g. – 73475 is “Lab Supplies and Hardware”).

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 ...

When a company purchases an asset it does not expect the asset to retain its current value forever. Instead, the company expects the asset to depreciate, or loose some of its value over time.

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 ...

The Internal Revenue Service cast its cold eye on the nation’s expense account economy, and millions of U.S. taxpayers felt the chill. Henceforth, the collectors revealed last week, each taxpayer must ...

Not surprisingly, many cities and special districts no longer have monies available in their budgets to spend on things such as legal fees to analyze and correct plan administration problems and ...

Deferred rent expense adjusts for uneven payments across a lease term. Monthly financials use a straight-line rent expense, averaging total lease payments. Use of deferred rent accounts balances ...