DIRECT EXPENSE Definition

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DIRECT EXPENSE is that portion of expense that is directly expended in providing a product or service for sale and is included in the calculation of COST OF GOODS SOLD, e.g. labor and inventory.

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EMPLOYEE STOCK OWNERSHIP PLAN (ESOP) is an employee benefit to acquire ownership of shares in their company without necessarily laying out personal capital.

CREDIT, in accounting, is an accounting entry system that either decreases assets or increases liabilities; in general, it is an arrangement for deferred payment for goods and services.

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