What does miscellaneous expenses cover in business accounting.

[Fidelia]

In business financial budgeting and reporting, there is always allowance for miscellaneous. And a lot of people might be confused about what Miscellaneous covers.

What is the scope of miscellaneous in business accounting and reporting?

 

[Suba]

In accounting, miscellaneous expenses are costs that rarely occur/are incidental, so they are not routine and the amount is also small, so they cannot be included/grouped in the main costs such as production costs, administrative costs, general costs. Examples of miscellaneous expenses are lobbying or entertainment costs, advertising costs if they are not often incurred, training costs, late fees for credit card fines, bank service fees. In the income statement, miscellaneous expenses are recorded under operating income.

 

[Kross]

Miscellaneous expenses are those small costs that are not expected but can come in. It is always kept in a special column and budgeted for.

 

[eLdavis]

It could actually be anything, i don't there is a limit as to what can be classified as miscellaneous expenses

 

[Suba]

It could actually be anything, i don't there is a limit as to what can be classified as miscellaneous expenses

Miscellaneous expenses have their own criteria, although there are no limits, as long as the costs are not included in the main cost category and are incidental and the costs do not require large sums of money.

 

[Augusta]

These are not regular expenses of s Company. And the company don't need to pay much for them..They can't easily be grouped

 

[King Belieal]

It is true that miscellaneous expenses don't have to be huge sums of money. They just have to be little unforseen expenses not captured.

 

[Augusta]

This is all about minor expenses that can't easily he grouped. We just need to still spend on them.