Accounting

Prepayment definition

A prepayment is commonly defined as an expense which has been paid in advance of its due date. As cash has been paid up front, …

What is accrued revenue

Accrued Revenue Definition

Accrued revenue arises because of the accruals basis of accounting, which states that revenue should be recorded in the profit and loss across the period …

What is deferred revenue

Deferred Revenue Definition

Deferred revenue arises because of the accruals basis of accounting, which states that revenue should be recorded in the profit and loss across the period …

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