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How expense is recorded
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 ??
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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