Prepaid expenses, Accounting Standards

Prepaid Expenses

In many conditions, like a custom, some of the item of expenses is generally paid in advance such as rent, taxes, insurance and subscriptions. The rationale of comprising these prepayments like current assets is such that if these prepayments were not formed they would need use of cash during the period.

Posted Date: 4/3/2013 6:35:57 AM | Location : United States







Related Discussions:- Prepaid expenses, Assignment Help, Ask Question on Prepaid expenses, Get Answer, Expert's Help, Prepaid expenses Discussions

Write discussion on Prepaid expenses
Your posts are moderated
Related Questions
how many tipe of accounts

Q. Define Economic and financial decisions? You most likely will find that of all the business knowledge you have acquired or will learn the study of accounting will be the mos


Imputed Interest - If no interest or an unrealistic amount of interest is charged in a salve involving certain kinds of deferred payments, then transaction would be treated as if r

How long after payment will it take to get a response#question?

Government Accountability Office (GAO) - Accounting and auditing office of the United States government. An independent agency which reviews federal financial transactions and repo

The term goods refer to articles that are traded through the firm   articles bought for resale. For illustration, for book seller, books are goods, for an electrical store fans, fo

What take place in a rights issue of shares? 1. Any premium on issue is added to a capital reserve. 2. Any type of premium on the issue is added to a revenue reserve. 3. A

Wise Owls, an NFPO, began operations at the beginning of 20X1 to provide free tutoring and homework assistance, as well as a nutrition program, to low-income immigrant children. T

This time of year we all here about football. For me it is the bad news of how poorly the Buffalo Bills are performing. Hopefully your favorite team is doing well. One thing we all