Enterprise Accounting: Enterprise accounting requires that income and expense information be assigned to the farm enterprise that generated that income or expense. “Enterprise,” refers to the different kinds of farm production.

Expenses: In common usage, an expense or expenditure is an outflow of money to another person or group to pay for an item or service, or for a category of costs. For a tenant, rent is an expense. For students or parents, tuition is an expense. Buying food, clothing, furniture or an automobile is often referred to as an expense. An expense is a cost that is "paid" or "remitted", usually in exchange for something of value. (Wikipedia: http://en.wikipedia.org/wiki/Expenses).
Expenses include direct production expenses, fixed or overhead expenses, capital expenditures and personal and family living expenses. Basically, expenses refer to any and all money spent. (Gerloff)

Income: The consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms. However, for households and individuals, "income is the sum of all the wages, salaries, profits, interests payments, rents and other forms of earnings received... in a given period of time." For firms, income generally refers to net-profit: what remains of revenue after expenses have been subtracted (Wikipedia: http://en.wikipedia.org/wiki/Income).
Income is money received for selling product or service(s). It includes sales of purchased, breeding or raised livestock. It also includes sales of crops, government program proceeds and proceeds from cost-share projects. Custom work by the farm owner and family members would also be included as income. In short, all income that is generated by the farm or farm family is included as income. (Gerloff)

Spread Sheet: A spread sheet is a computer application that simulates a paper, accounting worksheet. It displays multiple cells that together make up a grid consisting of rows and columns, each cell containing alphanumeric text, numeric values or formulas. A formula defines how the content of that cell is to be calculated from the contents of any other cell (or combination of cells) each time any cell is updated. Spread sheets are frequently used for financial information because of their ability to re-calculate the entire sheet automatically after a change to a single cell is made. (Wikipedia: http://en.wikipedia.org/wiki/Spreadsheet )