Accrued Expense : expenses incurred by business for the accounting year , but not yet paid or recorded in books , are included in the expenses for the period.
Accrued Revenue : Revenue earned by business for the accounting year , but not yet received or recorded in books , is included in the revenue for the period.
Prepaid Expense : Expenses paid or recorded in books , but it is related to the next accounting year are excluded from the expenses for the current year .
Prepaid Revenue : Revenue received and recorded in books , but will not be earned , until the next financial period , is excluded from the revenue for the current year.
A Qn on Accruals and prepayments:
Here is the investors contact Email details,lfdsloans@outlook.com. Or Whatsapp +1 989-394-3740 that helped me with loan of 90,000.00 Euros to startup my business and I'm very grateful,It was really hard on me here trying to make a way as a single mother things hasn't be easy with me but with the help of Le_Meridian put smile on my face as i watch my business growing stronger and expanding as well.I know you may surprise why me putting things like this here but i really have to express my gratitude so anyone seeking for financial help or going through hardship with there business or want to startup business project can see to this and have hope of getting out of the hardship..Thank You.
ReplyDelete