Discover how accounts payable function as short-term liabilities, not expenses, and learn how they impact a company's ...

An expense account sounds simple enough, but it actually means two different things in business. First, it's the process that lets employees pay for work expenses and get reimbursed by their company.

The whole rationale of the expense-account society—aside from the benefits reaped by free-spenders of the company’s money—is that the uninhibited use of high-priced food, liquor and gifts helps ...

Internal Revenue Commissioner Mortimer Caplin, a onetime amateur boxer who has been taking some quick professional jabs at expense-account living, last week issued his “final” rules on tax deductions ...

The double-entry system protects your small business against costly accounting errors. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you ...

In basic accounting terms, expenses are recorded as debits, which increase the expense account balance and reduce net income. The dual nature of expense accounts makes them central to business ...