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What is the diffrence between General Exp. & Misc. Exp?
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Answer / hemanshu
ON THE ROUTINE OF THE ORGANISATION SOME EXP ARE COVER UNDER
THE GENERAL EXP AS A GROUP. AND MISC.EXP AS A LEDGER.
We can create many ledger like mis. exp in General & Admin.
Exp Group.
those are exp which is not coming regularly and amount is
not so much high then we can cover it in misc. exp.
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / h.r. sreepada bhagi
For presentation in the Financial Statement (Read P&L A/c
abd BS), Assets, Liabilities, Income & Expenses are grouped
under broad heads. there is no hard & fast rule about the
name of the groups, but it's guided by the generally
followed accounting practice & convention.
When it comes to Expenses, the re can be groups like, 1)Cost
of Materials Consumed or Cost of Goods Sold, 2)Factory
Expenses or Production Expenses, 3)Administration Expenses,
4)Employee Related Expenses, 5)Selling & Distribution
Expenses 6)Rent, Rates & Taxes, and so on. Under each of
these groups relevant expense ledgers can be listed. Most of
the expenses can be easily identify with specific ledger
a/c, but there will be some expenses, generally of small
value, which can not be identified strictly with any of the
ledger a/c. Such expenses, which are not material (Read
Materiality Concept) can be accounted in common expense a/c,
which can be called as General Expenses A/c, Misc. Expenses
A/c, Other Expenses A/c, as the company feels relevant.
Once again, I repeat, the grouping mentioned above are only
examples & it differs from company to company.
Note - As mentioned in the above answer, TDS is not an
expense, but it is a liability towards the Government. If
there TDS on the income received, then it's an asset. In any
case TDS is not a P&L A/c item.
| Is This Answer Correct ? | 5 Yes | 4 No |
Answer / satyendra kumar sah
General exp. is an exp. we can treat in p/l a/c as indirect
exp.misc. exp. not comes in business regularly and not high
amt. if treat high amt. exp. as a misc. in this case it
should be disallowed.some organization bribe treat a
general exp.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / sathish
General exp 1) Salary 2)Rent 3)TDS
Misc Exp 1) Stationery 2) Courier
| Is This Answer Correct ? | 10 Yes | 10 No |
Answer / rajesh mrr
General expenses
means salaries
rent misc means
postage value
| Is This Answer Correct ? | 0 Yes | 2 No |
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