DIRECT EXPENSE Definition

Bookmark and Share

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.

Learn new Accounting Terms

EFTS is Electronic Fund Transfer System.

COST IN EXCESS OF BILLINGS, in percentage of completion method, is when the billings on uncompleted contracts are less than the income earned to date. These under-billings result in increased assets. Conversely, where billings are greater than the income earned on uncompleted contracts, a liability, billings in excess of costs, results.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.