Costs, expenses, expenditures: problems of terminology

The article presents the results of a study of semantic discrepancies between terms such as «costs», «expenses» and «expenditures». Segments of the difference in these terms were identified based on the study of special literature. After that conclusions were subsequently tested by the results of the survey, including among specialists in the field of economics, accounting, taxation and finance. The study confirmed the hypothesis that synonymy is acceptable in broad circles, in everyday life, but a scientific term requires certainty, unambiguity. The following recommendations were given: expenses can be attributed to the process of exchanging some resources for others, entailing a change in the structure of assets, but not affecting the financial results of the current period, costs can be interpreted as current expenses of a certain period, which can be seen in the statement of financial results and which affected the profit, and therefore the structure the company's capital, and the expenditures may include non-accountant, economic expenses that do not have an accurate estimate.