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
Describe three examples of financial accounting practices and for each, explain how the practice assists in the decision making process

Q. Accounting Education Change Commission? Accountants in practice as well as business executives have generally been dissatisfied with accounting graduates' capability to thin

i have an assignment that is requiring me to build my own Accounting framework. this assignment is not a research or textual assignment it must have a thinking process, so i can an

It is generally taken to include currency or legal tender, cheques or any other document which circulates as cash. It is generally classified like a current asset while it is acces

The balance sheet lists assets, capital and liabilities separately. This is an accepted convention about the assets and liabilities are demonstrated in sub groups and listed in the

You must be aware about the most of business are made through cheques these days. It involves the bank whether the firm has opened its own account. Thus when payment is made by che

This is a 2,000 words assignment. There is list of 5 questions. I would love to get it done in 3 days. Could you please let me know whether you are capable of getting it done. Than

1)   List every item debited or credited in the Profit and Loss account. 2)   Illustrates the difference among Trading Account and Profit and Loss Account. 3)   Illustrates t

Dear Sir, I am an accountant working in a company with limited liability (WLL), one of the partners (A) will withdraw from our company. One of the existing partner (B) of the comp

QUESTION It is generally recognised that power is an essential component of accountability and that greater accountability is recognised towards those stakeholders who have mor