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, …

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 …

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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