Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now
Expenditure is an outflow of money, or any form of fortune in general, to another person or group to pay for an item or service, or for a category of costs. For a tenant, rent is an expense. For students or parents, tuition is an expense. Buying food, clothing, furniture or an automobile is often referred to as an expense. An expense is a cost that is "paid" or "remitted", usually in exchange for something of value. Something that seems to cost a great deal is "expensive". Something that seems to cost little is "inexpensive". "Expenses of the table" are expenses of dining, refreshments, a feast, etc.

In accounting, expense has a very specific meaning. It is an outflow of cash or other valuable assets from a person or company to another person or company. This outflow of cash is generally one side of a trade for products or services that have equal or better current or future value to the buyer than to the seller. Technically, an expense is an event in which an asset is used up or a liability is incurred. In terms of the accounting equation, expenses reduce owners' equity. The International Accounting Standards Board defines expenses as:...decreases in economic benefits during the accounting period in the form of outflows or depletions of assets or incurrences of liabilities that result in decreases in equity, other than those relating to distributions to equity participants.
Expense is a term also used in sociology, in which a particular fortune or price is sacrificed voluntarily or involuntarily by something or someone to something or somebody else, often in the context that the latter is taking advantage of the former.

View More On Wikipedia.org
  1. N

    house expenses

    My ex moved out of our house 3 yrs ago and has refused to pay for any of the mortgage, rates ,strata fees and maintenance costs, i have had to pay for it all. Is she legally responsible for a portion of these costs if the house is in her name too.?
  2. JJ2022

    Ex spouse refusing to assist in expenses

    We submitted a joint application for divorce in December. The court date is 5 April. There is a DVO on my ex. He is exempt from child support because he refuses to pay, hides income and assets and uses financial control to manipulate me and the kids. If centrlink try to collect, there is not...
  3. B

    WA Can fuel expenses be claimed by the executor?

    Can an executor of a will (Probate issued in WA) charge the deceased estate for petrol expenses in long distances, eg in this case, approx 500ks of travel to attend to the sale of a home, cleaning and removal of rubbish, meeting agents, pool cleaners. etc...
  4. uday463

    Student Visa to TSS482 Visa - Signed contract to pay VISA expenses

    Dear sir, I am an international student with 12+ years of experience in cybersecurity. I got a job to work in an IT company and signed a contract saying that if I leave the job then I have to pay all the visa expenses raised for the TSS482 visa. I am leaving this job because my visa still not...
  5. C

    NSW Legal rights re puppy health expenses

    Hi, I recently purchased a puppy from a NSW registered breeder at the end of May 2020. The pup is now around 5 months old. I’ve recently learnt of a jaw overbite issue that is likely to result in surgical cost to remedy and may potentially have ongoing increased costs associated with the...
  6. K

    NSW Expenses against estate

    I have posted innumerable requests to the executor for compensation regarding costs and personal labour for the upkeep of my mother's deceased estate. It looks looks I'll need to engage a lawyer to at least send a formal letter of request, and maybe later court action. I'm guessing that the...
  7. Joosh

    NSW Funeral expense / Settlement of estate

    Can an estate/will be settled without the person funeral expenses being paid? My Mother passed away 2 years ago in which my Sister was the sole Executrix of the estate. She paid for our Mothers funeral & said to the beneficiaries that she would take out the cost of funeral expense before...
  8. Joosh

    Settling an estate & funeral expenses

    Can an estate/will be settled without the funeral expense Being deducted from the estate? My sister was the sole executive of my mothers estate and paid for the funeral out of her own pocket and said to each of the beneficiaries that she would take out the funeral expense when she settled the...
  9. R

    VIC Can I make my ex pay medical expenses?

    My ex and I separated shortly after I fell pregnant a few years ago. He had very limited contact with our daughter as a baby and then told me never to contact him again so she has not seen him since, but we have reached out a number of times. He now has another family and will not reply to my...
  10. R

    VIC Expenses management advice

    Hello, My father passed away on Tuesday. As yet the lawyer hasn't got back to me. When bills come in regarding the deceased, can these paid by me, the executor, out of his account, and any other incidental expenses related to him? I don't have a lot of cash on me to cover expenses in the...