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expired costs

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

Costs that have been used up or consumed. Expired costs are reported as expenses. (Costs that have not yet expired are reported as assets.)

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  • Debits and Credits
  • Adjusting Entries
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  • Accounts Receivable and Bad Debts Expense
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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