Difference Between Accrued Expenses and Prepaid Expenses [Year-End Closing]
To contact me:
[email protected]
WhatsApp: (237) 699 73 87 96
Accounting training to develop your career
► Managing the closing of accounts: https://www.videodecompta.com/maitris...
► Accounting Manager: https://www.videodecompta.com/devenir...
Excel training:
► From Intermediate to Expert in Excel: https://www.videodecompta.com/de-moye...
► Mastering Power Query - From Beginner to Pro: https://www.videodecompta.com/maitris...
► Designing Excel Applications with VBA: https://www.videodecompta.com/formati...
___________________
Video Notes:
I often receive the question by email:
What is the difference between accrued expenses and prepaid expenses?
So I decided to make a video about it.
In this presentation, we will cover:
the principle of accrual accounting
the concept of accounting profit/loss
the specific characteristics of accrued expenses
the specific characteristics of prepaid expenses
As explained in the video, accrued expenses:
are recorded as debits in the expense account
contribute to increasing the expenses of the current fiscal year
relate to a supply or service already rendered
Conversely, prepaid expenses:
are recorded as credits in the expense account.
allow you to reduce expenses for the current fiscal year
relate to a supply or service that will be provided at a later date
To contact me:
[email protected] or
WhatsApp at (237) 699 73 87 96
To visit the website: https://www.videodecompta.com/