Prepayments and Presentation currency: Difference between pages

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''Accounting''.
The currency in which financial statements are presented.
Amounts owing to the business as a result of paying in advance for services.


A prepayment is a form of asset, because it represents benefits (in the form of valuable services) that the business is entitled to receive in the future, in consideration for cash that the business has already paid out.


== See also ==
==See also==
* [[Accrual]]
* [[Functional currency]]


[[Category:Accounting,_tax_and_regulation]]

Latest revision as of 07:07, 2 July 2022

The currency in which financial statements are presented.


See also

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