![]() The explanation begins by defining the concepts and then presenting several examples to illustrate their differences and similarities. This page describes the difference between a cost and a cash outflow much of the explanation also can be used to describe the difference between an income statement ( exit this site) and a cash flow statement ( exit this site). These concepts are not the same (and the terms cannot be used interchangeably), but they often arise at the same time and from the same transaction, and thus are easily confused. ![]() ![]() ![]() A challenge for managers is to understand the difference between 1) a cost and 2) a payment or cash outflow.
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