Prepayments: Difference between revisions
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''Accounting''. | ''Accounting''. | ||
Entitlements of 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. | 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. | ||
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== See also == | == See also == | ||
* [[Accrual]] | * [[Accrual]] | ||
* [[Prepayment]] | |||
Revision as of 20:17, 30 October 2016
Accounting.
Entitlements of 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.
