OPERATING COST is the expense of maintaining property (e.g., paying property taxes and utilities and insurance) it does not include depreciation or the cost of financing or income taxes. Also known as OPERATING EXPENSE.
CONTROLLABLE EXPENSE expenses that can be controlled or restrained by management. Some of the costs of doing business can be postponed or spread out over a longer period of time (e.g., personnel costs, travel & entertainment, marketing expense).
ACCOUNTING EVENT is when the assets and liabilities of a business increase/decrease or when there are changes in owners equity.
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