An expense is a cost that a company incurs to generate revenue. It may be categorized as an operating expense or a nonoperating expense.

Depletion is an accrual accounting method used to allocate the cost of extracting natural resources such as timber, minerals, and oil from the earth.

Explore Frederick W. Taylor’s scientific management theory – time-motion studies, labor efficiency and standardized processes. Learn Taylor’s management principles and modern relevance.