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TeachMeFinance.com - explain Expense Expense The term 'Expense ' as it applies to the area of Medicare in the United States can be defined as ' Funds actually spent or incurred providing goods, rendering services, or carrying out other mission related activities during a period. Expenses are computed using accrual accounting techniques which recognize costs when incurred and revenues when earned and include the effect of accounts receivables and accounts payable on determining annual income'. Previous 5 Terms: Expedited Organization Determination Expenditure Expenditure Expenditures per million Btu Expenditures per square foot Next 5 Terms: experimental (empirical) probability experimental drug Experimental Product Experimental use permit experimentation About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.