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Hi, Iamp;#39;m Corey. Iamp;#39;m a CPA and subject matter expert in financial accounting. And in this video, weamp;#39;re gonna run through everything you need to know about the expense, recognition and measurement process. Weamp;#39;ll start off at the high-level overview to make sure we understand what expenses are. Next, weamp;#39;ll dive into what it means to recognize and measure an expense in the financial statements, and weamp;#39;ll look at a few examples along the way. We can think of expenses as the money that a company spends while carrying out business activities with the intention of earning revenue. Examples include things like office supplies, utilities, employee wages, and taxes. Each period, all of the companyamp;#39;s operating expenses are compiled and recorded on the income statement. We deduct these expenses from the revenue that a company generates to determine the total net income for that period. Understanding how to manage and appropriately account for t
