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Expense in accounting

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(Querist)
10 November 2022 when we do expenses we lose that money as well as the potential income that we could have earned but why do we don't consider that potential income as loss in accounting

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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
10 November 2022 It's not an actual loss so it can't be accounted.
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VISHNU

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VISHNU (Querist)
10 November 2022 sir then when is a loss treated as actual loss
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VISHNU

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VISHNU (Querist)
10 November 2022 sir then when is a loss treated as actual loss
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
10 November 2022 Excess of expenditure over income is actual loss.
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VISHNU

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VISHNU (Querist)
10 November 2022 sir does it mean that loss is reduction in what we actually have.i am really confused sir that's why
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
10 November 2022 Yes, loss is reduction in what we actually have.
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