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How expense is recorded

Others 219 views 3 replies
how expenses is recorded does it is recorded according to nature or does it is recorded as reason for expenses incurred ??
Replies (3)

It is a process of accounting cycle. Expenses has only 2 natures, fixed and variables. All five elements of accounting aka assets, liabilities, expenses, incomes and equity must be reported. 

You didn't get my question
i am asking whether the expenses is recorded as per the nature or as per the purpose to incurr it ??

Just the purpose  in reporting because cost classification is not reporting 


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