Running a small business requires the same output and input of a larger company but on a much smaller scale. This includes the necessary administrative and operating expenses to make the business run ...

The purpose of an operational audit is to improve the efficiency of day-to-day operations, reports Accounting Tools. These activities contribute indirectly to the functioning of the business.

CapEx has a longer-term view while OpEx focuses on day-to-day business expenses Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd.