shwetha (CWA learner) (447 Points)
10 February 2012both r same?
The difference between expenses and expenditure. Expense is the outflow from a profit oriented organization while expenditure is the outflow from non-profit organization.
this is the answer what i found. is it right?
A.Vn.Anusha
(B.Com Qualified CA CS - Final)
(306 Points)
Replied 10 February 2012
Hi,
This is my view point . An expenditure includes an expense but not vice versa. An expenditure is a thing that is expended or an act of disbursement. Whereas an expense is a cost, charge incurred or amount spent....
CA Miss Naamah
(N H R & Associates)
(377 Points)
Replied 11 February 2012
In my view, you both are correct, one is talking from accounting point of view and other is talking from charging point of view..
palak doshi
(Chartered Accountant)
(26 Points)
Replied 12 December 2012
Difference between expense & expenditure:
When a company incurrs an expenditure it can be either expensed or capitalised. When an expenditure is incurred and future economic benifit is likely to flow to the company for more than one accounting period from incurring the expenditure, then the expenditure is capitalised. If future economic benifit from the expenditure is uncertain, then the expenditure is expensed in the period incurred.
Therefore, an expenditure includes an expense but not vice versa.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
