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In accounting and finance, an accrual is an asset or liability that represents revenue or expenses that are receivable or payable but which have not yet been paid. 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.
They publish animated videos of both traditional nursery rhymes and their own original children's songs. As of April 30, 2011, it is the 105th most-subscribed YouTube channel in the world and the second most-subscribed YouTube channel in Canada, with 41.4 million subscribers, and the 23rd most-viewed YouTube channel in the world and the most ...
A deferred expense (also known as a prepaid expense or prepayment) is an asset representing costs that have been paid but not yet recognized as expenses according to the matching principle. For example, when accounting periods are monthly, an 11/12 portion of an annually paid insurance cost is recorded as prepaid expenses.
Adjusting entries for prepayments are necessary to account for cash that has been received prior to delivery of goods or completion of services. When this cash is paid, it is first recorded in a prepaid expense asset account; the account is to be expensed either with the passage of time (e.g. rent, insurance) or through use and consumption (e.g ...
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A teacher and a teenage student were killed in Monday’s shooting at the Abundant Life Christian School in Madison. Two students are in critical condition and four other students suffered non ...
GOP Rep. Byron Donalds, a top Trump ally in Congress, seems more vocal about running for Florida governor in 2026 in the race to succeed term-limited Republican Gov. Ron DeSantis.
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.