Prepaid Expenses Current Assets

GA-503 Expense Recognition And Prepaid Assets
Expense Recognition and Prepaid Assets Prepared By: Ken Johnston Approved By: Brian Laffey in the current fiscal year relating to a future fiscal year must be recorded as a prepaid expense. Prepaid expenses in the general ledger are reviewed and reconciled by the controller’s Office on ... Content Retrieval

4370.3 APPENDIX 3 ASSETS CURRENT ASSETS
CURRENT ASSETS _____ 1110 Petty Cash $_____ 1120 Cash in Bank ASSETS PREPAID EXPENSES _____ 1240 Prepaid Property and Liability Insurance $_____ 1250 Prepaid Mortgage Insurance $_____ 1290 Miscellaneous Prepaid Expenses ... Access Full Source

Accounts Receivables - Receivables On The Balance Sheet
Accounts receivables represents money owed to a business by its customers. The nature of accounts receivable and the portion they represent of current assets on the balance sheet depends upon the industry in which a company operates. ... Read Article

2.08 PREPAID EXPENSES
A. Recording Prepaid Expenses – Payments of $750 or more for goods or services to be Such amounts are not reflected in the department’s expenses for the current year but are reported as assets in the College’s financial statements. ... Read Here

Accounts
Prepaid Expenses – assets that are paid for in advance, and will likely expire or be used . up with the passage of time. (assets) used up during the current accounting . period. Income Tax Expense – taxes owed on the current year’s income, regardless of when they . will be paid. ... Retrieve Here

Inventory On The Balance Sheet - Investing For Beginners
Inventory Is Especially Important to Investors When looking at a company's current assets, you need to pay special attention to inventory. Inventory consists of merchandise a business owns but has not sold. ... Read Article

12.2 Prepaid Expenses
Received during the current period. This does not include prepayments, such as grants. and kept separate from prepaid expenses (non-financial assets). Materiality should be a consideration when assessing this policy. A prepaid expense ... Fetch Here

Asset - Wikipedia, The Free Encyclopedia
Prepaid expenses — these are expenses paid in cash and recorded as assets before they are used or consumed The phrase net current assets (also called working capital) is often used and refers to the total of current assets less the total of current liabilities ... Read Article

Chapter 1
Auditing the Financing/Investing Process: Prepaid Expenses, Intangible Assets, and Property, Plant, and Equipment and Equity Accounts payable Accrued liabilities Debt Common stock Retained earnings Other Assets Prepaid expenses – current Intangible assets ... Read More

SHFL Entertainment, Inc. Reports Fourth Quarter And Fiscal Year Ended 2012 Results
LAS VEGAS, Dec. 17, 2012 /PRNewswire/ -- SHFL entertainment, Inc. (NASDAQ Global Select Market:  SHFL) ("SHFL" or the "Company") today announced its results for the fourth quarter and ... Read News

Schedule Of Assets
Prepaid expenses include expenditures for goods or services which have not yet been received as of the schedule 1 Non-current assets include breeding livestock, machinery, equipment, vehicles, investments in capital leases, ... Retrieve Document

Statement Of Financial Position - General
Prepaid expenses 6. Other current assets. PROPERTY AND EQUIPMENT ­ AT COST. 7. Land and land improvements 8. Buildings and improvements. 9. Equipment 10. Furniture and fixtures 11. Less: accumulated depreciation 12. Net property and equipment. OTHER ASSETS. 13. Deposits 14 ... Retrieve Doc

I-A Deferred Revenues - University Of Maine System | Home
SUBJECT: PREPAID EXPENSES AND DEFERRED REVENUES Section I - A Issue 3 Page 1 prepaid expenses and deferred revenues are recorded in the current statements on the Statement of Net Assets. ... View Full Source

Company Name: CURRENT ASSETS - Illinois Dept. Of Agriculture ...
CURRENT ASSETS: Cash--on hand and in banks Prepaid Expenses Other Current Assets Enumerate: TOTAL CURRENT ASSETS FIXED ASSETS COST ACCUMULATED BOOK VALUE DEPRECIATION Land Other Fixed Assets ... Read Full Source

Audit Program For Prepaid Expenses And Other Assets
For prepaid expenses and other assets. Modification to the auditing procedures listed payment, (9) current-period expense, and (10) prepaid property taxes balance at the end of the period. b. Examine tax bills and record of payment and agree ... Fetch Doc

5-0700.00 PREPAID EXPENSES 5-0710.00 INTRODUCTION 5-0710.10 ...
Prepaid expenses are assets which are gradually consumed or used over time and can be converted back to cash. The items recorded as prepaid expenses are usually regularly recurring costs the portion of the prepaid asset which was used in the current period. ... Access This Document

¯ Prepaid and deferred charges accounts normally are not material and can be effectively tested by scanning and analytical procedures. Testing Determine the proper description and classification between current and noncurrent assets. Practical Consideration: ¯ See ... Document Viewer

ASSETS 2010 2009 CURRENT ASSETS
ASSETS 2010 2009 CURRENT ASSETS Cash and cash equivalents $ 1,494,1443,185,416 $ Accounts receivable (net of allowance for doubtful accounts of $ Prepaid expenses $ 85,740145,653 $ TOTAL CURRENT ASSETS $ 3,590,7885,258,248 $ NONCURRENT ASSETS ... Access Full Source

American Sleep Apnea Association STATEMENTS OF FINANCIAL ...
CURRENT ASSETS: Cash and cash equivalents 28,491$ 11,343$ Accounts and other receivables 1,589 1,553 Pledges receivable 10,000 Prepaid expenses 85,339 8,266 Total current assets 125,419 38,662 PROPERTY AND EQUIPMENT: ... Fetch Document

WPCS Reports 2nd Quarter FY2013 Results
WPCS International Incorporated , a leader in design-build engineering services for communications infrastructure, today announced financial results for the fiscal year 2013 second quarter ended October ... Read News

Deferral - Wikipedia, The Free Encyclopedia
Deferred charges often extend over five years or more and occur infrequently unlike prepaid expenses, rent. Financial ratios are based on the total assets excluding deferred charges since they have no physical substance (cash realization Current events; Random article; Donate to Wikipedia; ... Read Article

Opening Day Balance Sheet - Welcome To 4expertise
Opening Day Balance Sheet Enter your Company Name here Assets Current Assets Cash in Bank $ - Inventory - Prepaid Expenses - ... Read Document

Consolidated Statements Of Cash Flows 110718 Net Income 4,946 ...
Prepaid expenses and other current assets (238.8) Accounts payable 307.9 Income taxes (91.1) Other taxes (1.8) Accrued interest 4.9 Accrued payroll and other liabilities (274.1) Other long-term liabilities 223.8 Deferred income taxes 53.5 ... Return Document

5 - Current Assets - YouTube
Current Assets: Cash or any right that the company owns which can be turned into cash in the near future. 7:10 Watch Later Error Prepaid expenses by NVarchitect Featured Video 378 views; 3:05 Watch Later Error 6 ... View Video

Dynetek Reports Higher Revenues And Sales
General and administrative expenses have also increased (audited) Assets Current assets Cash and cash equivalents 34,751 39,197 Inventory 126 (382) (384) (506) Prepaid expense (15 ) 11 13 (16) Accounts ... Read Article

Balance Sheet ASSETS I. CURRENT ASSETS A. B. - ISMMMO
ASSETS I. CURRENT ASSETS A. Liquid Assets: 1. Cash. 2. Cheques received. 3. Banks. 4. Cheques given and payment orders (-). 5. G. Prepaid Expenses an d Income Accruals: 1. Prepaid expenses. 2. Income accruals. H. Other Current Assets: 1. ... View Doc

Prepaid expenses are recorded as current assets because at the time of payment, none of the amount has been incurred/consumed – it is all a future economic benefit. of non-current assets in the current reporting period. Similarly, by showing accumulated ... Access Document