What do you mean by prepaid and what's the accounting treatment?

Suryaprakash Sahoo
Prepaid expenses is just like a current asset recorded in balance sheet for the expenses to be incurred in future against which payment made in advance. For example when we take insurance we make entr...
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ilavelpula lokeswara Rao
prepaid experience are paid in advance but experience is not inccurd... prepaid experience is going to get benfits in future so prepaid experience is a asset such as prepaid expenses is posting on...
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Prepaid refers to an expense paid in advance, and its accounting treatment involves recognizing it as an asset initially and gradually expensing it over time.Prepaid expenses are costs that are paid i...
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