![]() Selling, General, and Administrative Expense (SG&A).Operating Expenses (OPEX) are divided into two parts: An accounting period is usually the same length as your business’s financial year. ![]() Operating expenses are short-term, recurring costs that are often paid off within the same accounting period that they are incurred in. These are the expenses incurred by a business in its day-to-day operations. Let’s look at each one of them in detail. There are three major types of business expenses: What are the different types of expenses? ![]() Now that we know what expenses are, let’s dig deeper into the different types of expenses that a business can incur. We’ll discuss this in detail in the later sections. Note: Some business expenses can be deducted from your company’s revenue before they are subject to taxes. It’s important to have a basic understanding of the three main financial statements to help you evaluate your company’s fiscal performance. An income statement is often known as the Profit & Loss, or (P&L) Statement.
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