Discover how accounts payable function as short-term liabilities, not expenses, and learn how they impact a company's financial position and cash flow management.

An expense account sounds simple enough, but it actually means two different things in business. First, it’s the process that lets employees pay for work expenses and get reimbursed by their company.

The quick action taken by the Hewlett-Packard Co. board to oust Chief Executive Mark Hurd because of expense-report recklessness should be a clarion call to employees at every level: Expense accounts ...