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{{Short description|Item requiring cash outflow}}
{{redirect|Expenses|the Better Call Saul episode|Expenses (Better Call Saul)}}
An '''expense''' is an item requiring an outflow of [[money]], or any form of [[Wealth|fortune]] in general, to another person or group as payment for an item, service, or other category of [[cost]]s. For a [[leasehold estate|tenant]], [[renting|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 "[[Remittance|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 for dining, refreshments, a feast, etc.
Anslaye buyer than to the seller. Technically, an expense is an event in which a proprietary stake is diminished or exhausted, or a [[liability (accounting)|liability]] is incurred. In terms of the [[accounting equation]], expenses reduce owners' [[equity (finance)|equity]]. The [[International Accounting Standards Board]] defines expenses as:{{quote|...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.<ref>IFRS Framework, F.70</ref>}}▼
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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.
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Many businesses benefit from automated expense reports systems for [[expense management]]. Depending on the system chosen, these software solutions can reduce time costs, errors, and fraud.
==Expense
Expense management is a crucial aspect of both personal and corporate financial well-being. It involves effectively tracking, controlling, and optimizing expenses to ensure financial stability and growth. Whether for individuals or organizations, understanding and managing expenses is essential for various reasons.
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