Online Revenue Expenditure Assignment Help
Revenue expenditure is a much talked about term in finance and accounting. It is the expenditure that is charged in the books of accounts as soon as it occurs. As a student of accounting or finance, you will also come to know about capital expenditure and how do these two types of expenditures work for a company and what are the main differences between these two terms.
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What is Revenue Expenditure?
Simply, a revenue expenditure is a cost to a company that charged or shown in the books of accounts as soon as it is incurred. It is just the opposite of revenue income which is also registered on a day-to-day basis as and when it occurs. There are two types of revenue expenditures:
- Revenue expenditure that is incurred for maintaining the revenue generating assets like the maintenance cost of the computer systems in the storehouse or the transportation cost incurred for carrying products to the retail outlets.
- Revenue expenditure that is incurred for conducting a business like the rent of the warehouse, the electricity cost, the conveyance incurred by an employee for visiting the market, etc.
There are some expenditures that a company incurs to acquire assets or conduct business for a long time, like buying of a computer system is not a revenue expenditure. It is called a capital expenditure because the benefits of the computer system could be enjoyed for a long period. It is your primary responsibility to understand the difference between these two expenditures. In the assignments, you may be needed to sort out the capital expenditures from the revenue expenditures.
Here are some examples of revenue expenditures that a factory owner may need to incur:
Wages paid to the laborers, Lubricant oil bought for the machines, Electricity used to run a motor, Monthly rent paid to for the factory premises, Maintenance expenses for the fixed assets, wages paid to the factory floor cleaner, Depreciation of fixed assets, Interest paid to the bank for the loan taken for the business, Insurance cost on saleable goods, Freight charges, Conveyance charges, Petrol cost for the office vehicles, etc.
There are some expenditures that look like revenue expenditure but they are not actually so. Your credibility lies in identifying these special expenditures that could not be treated as revenue expenditures. These could be categorized under two heads:
- Deferred Revenue Expenditure: It is a kind of revenue expenditure which will be beneficial for the company for many years in future like the expenditure the company may incur for the sales promotion in a new market or for a new product. A part of the deferred revenue expenditure is shown as the normal revenue expenditure and the remaining part which is actually the bigger part is treated as a capital expenditure.
- Capitalized Revenue Expenditure: When a company buys a fixed asset and then incurs some expenses in installation works, that expenses are added to the asset and treated as capital expenditure. A remodeling work in a factory that helps in increasing the production capacity, exponentiator incurred in the removal of an old property, etc. are the examples of capitalized revenue expenditures.
There is no hard and fast rule for identifying revenue and capital expenditures. Some expenditures could be easily categorized while some other depends on the prevailing norm of the industry and the company’s own decision.
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