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  2. Adjusting entries - Wikipedia

    en.wikipedia.org/wiki/Adjusting_entries

    In accounting, adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred. The revenue recognition principle is the basis of making adjusting entries that pertain to unearned and accrued revenues under accrual-basis accounting. They are ...

  3. Prepayment of loan - Wikipedia

    en.wikipedia.org/wiki/Prepayment_of_loan

    Prepayment speeds can be expressed in SMM (single monthly mortality), CPR (conditional prepayment rate, which is the annually compounded SMM), or PSA (percentage of the Public Securities Association prepayment model). For mortgages at least 30 months old, 100% PSA = 6.0% CPR = 0.51% SMM, equivalent to the full prepayment of 6% of a pool's ...

  4. Accrual - Wikipedia

    en.wikipedia.org/wiki/Accrual

    In accrual accounting, the term accrued revenue refers to income that is recognized at the time a company delivers a service or good, even though the company has not yet been paid. Likewise, the term accrued expense refers to liabilities that are recognized when a company receives services or goods, even though the company has not yet paid the ...

  5. Prepaying your mortgage: What is it and should I do it? - AOL

    www.aol.com/finance/prepaying-mortgage-152800578...

    What is the prepayment penalty? A prepayment penalty is a fee that some lenders charge when you pay off your mortgage early. Typically, the prepayment penalty only applies to paying off your ...

  6. What is a prepayment penalty? - AOL

    www.aol.com/finance/prepayment-penalty-165152113...

    A prepayment penalty is a fee a lender charges to discourage a borrower from paying more than their scheduled periodic payment or completely paying off their loan under the terms of the loan ...

  7. Mortgage interest deduction: What it is and what qualifies - AOL

    www.aol.com/finance/mortgage-interest-deduction...

    The IRS’s general definition of “mortgage interest” is interest that accrues from any loan secured by your primary home or a second home. There are other costs and fees that can be included ...

  8. Deferral - Wikipedia

    en.wikipedia.org/wiki/Deferral

    A deferred expense, also known as a prepayment or prepaid expense, is an asset representing cash paid in advance for goods or services to be received in a future accounting period. For example, if a service contract is paid quarterly in advance, the remaining two months at the end of the first month are considered a deferred expense.

  9. Revenue recognition - Wikipedia

    en.wikipedia.org/wiki/Revenue_recognition

    Accrued revenue is an asset that represents income earned by a deliverer when goods or services are delivered, even though payment has not yet been received. When payment is eventually received, the accrued revenue account is adjusted or removed, and the cash account is increased.