Author Topic: Cost and expense  (Read 5 times)

Offline MD. ABDUR ROUF

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Cost and expense
« on: July 14, 2018, 06:11:15 PM »
 
Cost: Cost is the total value of the sacrifice mode to acquire goods or services.
Expense: Expense is the value of the sacrifice mode for usesing goods or services, measured in monetary units by the reduction of asset.
Example- purchases a furniture Tk.20,000 for 10 years. Here, cost is Tk.20,000 total value of furniture and per year depreciation is expense Tk.2000.   
Dr. Md. Abdur Rouf
Assistant Professor of Accounting
Faculty of Business and Economics
Daffodil International University