Expired Cost

In cost accounting, cost has been defined as money’s value which is used for producing something which is scarce in the market. Expired cost is also a part of cost.

Expired cost means the incurred expenses at the time when a company received benefits. Expired cost is that cost which is identified as expenditure or expense. When benefits is received or consumed by a business entity from the cost then it’s termed as an expired cost. Another definition of expired cost is that it is complete loss in an asset’s value. The expense of depreciation is the best example of an expired cost. This expense is taken into use for a particular asset which has been used in the process of production and which expires after the sales of the goods.

Expired cost can be better explained with the help of an example stated below. If any particular business unit, say ABC is spending $ 10,000 for acquiring catalogs of a product, which is recorded, in the month of January as prepaid-expense. These catalogs have handed-over, in the month of March, in any particular trade-show & the marketing-expense is charged by it $ 10,000 cost. The amount $ 10,000, now becomes, in the month of March, an expired cost.

After the expense is incurred it becomes expired cost & is used totally for yielding revenue. Few revenue-cost examples are S & D expenses (selling & distribution-expenses) and cost -of -goods -sold -expense. It is not necessary that cash is required for making payment for every expense.

Even if a promise is made for doing payment in

future then it is done for obtaining profits. The cost of manufacturing is capitalized as inventory of finished-goods & when the goods are sold, these costs expire and they now become an expense.

Even factory-overhead has been treated in the form of an expired cost. This is so because, in inventory of cost -of -finished -goods, factory overheads are included. When selling & distribution-expenses aren’t included in inventory of cost -of -finished –goods, then it is regarded as expenses. Factory-machine’s depreciation brings an increment in the use of goods which is manufactured. These depreciations are written under the category work-in-progress & inventory of finished-goods. From the revenues deduction is done of selling & distribution-expenses whenever depreciation is incurred.

Unexpired cost is different from expired cost. Where, expired cost is the cost which has been already incurred, unexpired cost are those cost which has to be paid in future. Unexpired cost has been regarded as asset where as expired cost is an expense.

Expired cost is calculated as follows:

 Expired cost = Revenues – Selling & Distribution-expenses

 Where as, unexpired cost is calculated as follows:

 Unexpired cost = Asset’s historical-cost – depreciation that is accumulated

This article has been compiled by Classof1.com, a leading online Homework-Help provider.

For assistance with your academic assignments in Cost Accounting, you can visit http://classof1.com/homework-help/cost-accounting-homework-help

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In order to minimize the risk of international child abductions, the Department of State requires that children under the age of 16 must have the consent of both parents in order to be issued a passport. Also, adults applying for a passport on behalf of a child under the age of 16 must be able to prove that either the child is theirs or that they are otherwise authorized to apply for the passport.

 

It may seem absurd to have to prove your relationship to your own flesh and blood, but you won’t be able to get a passport without doing so. Here are the documents that the Department of State will accept:

 

Your child’s birth certificate listing you as the parent. If your child was born overseas and the document is not in English, you’ll also need a translation.

A Consular Report of Birth Abroad, again listing you as a parent.

An adoption decree listing you as the adopting parent

A court order establishing that you have custody or guardianship of the child.

 

The easiest way to demonstrate that both parents consent is for both parents to accompany the child to apply for a passport. However, in today’s world, that often isn’t possible, especially if the family is applying for an emergency passport. The following documents will help you demonstrate that both parents have consented to the emergency passport being issued:

 

A notarized Statement of Consent Form DS-3053 signed by the other parent.

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Legal proof that the other parent is either deceased or has been declared legally incompetent.

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Alison Kroulek is a freelance writer and blogger with a focus on the travel industry.

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If your main business location is in Japan and you’re not in a financial position to open your own NYC offices, there’s no reason for you to miss out on tapping into one of the biggest marketplaces in the world. Obtaining a legitimate and verifiable NYC office address and telephone number is as easy as obtaining a NYC virtual office from VH International Business Solutions.

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If you’re at a level where you travel internationally to meet clients, your NYC virtual office can become your physical office space too.

We have meeting spaces and private office space that are available at a low cost for temporary usage – so you can meet your prospective American clients at your NYC office!

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VH International Business Solutions, Inc. Since 1990. Offering unbeatable service to individuals, small and mid sized local companies; as well as larger domestic and international firms seeking to establish a presence in the U.S., and particularly in the New York market. As the pioneer of offering Virtual Office services online in New York City, we are the leader and have the most expertise of working with local and global businesses when entering the New York marketplace. While others emphasize services, we emphasize service. Manhattan Virtual Office How can VH International Business Solutions help you? Tel: 1.212.627.8900 Fax: 1.646.861.6610 Since 1990.

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