Deferred Expenditure Vs Prepaid Expenses

Date 2012 JOB DESCRIPTION QUALIFICATION Revision 00
Have been booked and revenue and expenses for the relevant month are correctly recorded. 2. Ensure that all prepaid expenses/ deferred charges/ depreciation etc. has been properly recorded and allocated to reflect the monthly expenditure correctly. 3. Ensure that revenue ... View Document

Expense - Wikipedia, The Free Encyclopedia
In common usage, an expense or expenditure is an outflow of money to another person or group to pay for an item or service, or for a category of costs. For a tenant, rent is an expense. For students or parents, tuition is an expense. Buying food, clothing, furniture or an automobile is often ... Read Article

FPP Handbook - Colorado Department Of Education Home Page
Just as for revenue and expenditure accounts, 7482 Grants Deferred Revenues 8181 Prepaid expenses. 8182 Prepaid insurance. Other current assets. 8191 Deposits. 8192 Prepaid pool contribution. 8193 Capitalized Bond and Other Debt Issuance Costs. ... Document Retrieval

PowerPoint Presentation
Purchases method: DR CR Insurance expenditure $300 Cash $300 Consumption method: Prepaid insurance $300 Cash $300 Government-wide: Must use consumption Cash $100,000 Deferred Revenue 100,000 Explanation Chapter 5 Granof-5e * Expenditures vs. Expenses Expenditures ... Return Doc

YouTube - Accrual - YouTube
Unit 3 - Part 1: Prepaid Expenses TRUTonyBell 537 views. Deferred Expense, Accrued Revenue, Accrued Expense calmatdarren 181 views. 9:56 Watch Later adjusting entries are journal entries usually made at the end of an accounting period to allocate income and expenditure to the period in which ... View Video

Chapter 3
Accrued revenues Adjusting Prepaid (Deferred) Expenses Prepaid Insurance On December 1, 2004, Scott recorded the expenditure as Prepaid Insurance on December 1. What adjustment is required at Dec.31, 2004? Supplies During 2004, Scott Company purchase $15,500 of supplies. ... Retrieve Content

EMA INTERNAL CONTROL MANUAL - Compliance Week
Review Capital expenditure approval - Tracking Y. Y. M. Every 5Y. Q. M Prepaid expenses & deferred income. Specification prepaid expenses and deferred income . Specification of receivables for bonuses, commissions, marketing refunds or other claims and supplier bonuses. ... Read Full Source

Review: Accounting For Income Taxes Including FIN48 And IFRS
SEPARATELY from other tax balances Current or noncurrent depending on expected timing of cash flows to/from IRS Deferred Taxes IAS 12 vs FAS 109 versus US GAAP Enacted tax rates Which Subscription revenue Prepaid rent Expenses and a current expenditure that the taxing ... Fetch Content

Accounting I: Introduction To Campus Accoounting
Cash Buildings & Capital Equipment Prepaid Expense/Deferred Expense Inventory Accounts Office supplies Accounts payable Prepaid expenses None that and Balance Sheet permanent accounts Explain the difference between the balance brought forward in the budget vs. the expenditure column ... View This Document

Deferred Acquisition Costs - Wikipedia, The Free Encyclopedia
Such costs are called Deferred Acquisition Expenses (DAE) and capitalization of DAE results in setting up of an asset called Deferred Acquisition Costs (DAC). Establishment of the DAC asset tends to reduce the policy’s first year strain and generally produces a smoother pattern of earnings. ... Read Article

Balance Sheet Or Net Worth Statment - CALS Course Directory
Deferred tax on non-current liabilities Would be Current Assets Cash on hand or in checking Cash payment of an expenditure should be considered Current Assets Prepaid expenses Not yet delivered or listed as part of physical inventory Payment has been made so must show ... Read More

Working Capital - How To Calculate Working Capital On The ...
Working capital on the balance sheet is the difference between current assets and current liabilities. The reason working capital is so important is because it lets you know the resources management has on hand to pay day-to-day bills and conduct operations. Some companies, such as Wal-Mart or ... Read Article

PERIOD END CLOSURE CHECKLIST - Compliance Week
Review result and input to impairment tests Q Review Capital expenditure approval - Tracking M M Prepaid expenses & deferred income Specification prepaid expenses and deferred income, including review of regular release to P&L ... View Full Source

Matching Principle - Wikipedia, The Free Encyclopedia
A Deferred expense (prepaid expenses or prepayment) is an asset used to costs paid out and not recognized as expenses according to the matching principle. For example, when the accounting periods are monthly, ... Read Article

I. Accounting Principles
Distinction between expense (accrual) vs. expenditure (cash) Example of cash vs. accrual financial statement: Accrued expenses payable 4. Deferred revenue, i.e., b. decreases in AR, inventory, prepaid expenses 4. Subtract uses of cash a. decreases in AP, ... Fetch This Document

When Worlds Collide: GAAP vs. TAX 1. - Terry Miller
Deferred revenue vs. temporarily restricted net assets expenditure.----- 15. Fiscal sponsorship: 5 Elements in an Ideal World x The elements of the re-granting sponsor Line 53 prepaid expenses x Form 990 contemplates, even invites, ... Content Retrieval

Accountant III Civil Service Exam Study Guide
Balance (taking into account insurance, depreciation, deferred revenue, prepaid expenses, allowance for doubtful accounts, interest expense, wage expense, wage payable, etc.) revenue expenditure, be able to record the removal of a depreciable asset from ... Retrieve Here

MODIFIED VERSES FULL ACCRUAL ACCOUNTING - Montana State ...
Periods (inventories, prepaid expenses, fixed assets accruedfixed assets, accrued liabilities, debt) expenditure- bond prin. $5,000 expenditure bond interest 300 deferred charges $2,000 20. ... Get Document

PowerPoint Presentation
Cash $100,000 Deferred Revenue 100,000 Assume that during the Prepaid insurance $150 Insurance expenditure 150 Times New Roman Wingdings Default Design Chapter 5 Learning Objectives Modified Accrual Accounting Expenditures & Expenses Expenditures Expenditure Definition and ... Access Document

June 11, 1997
Cash vs. Receivables. Deferred Expenses. Deferred Revenue. Equipment Inventory and Library Holdings. Federal Grants and Contracts – Awards (WARF units only) (Like prepaid items, the expenditure is capitalized and reported as an asset while recognition of the expense is deferred.) ... Get Doc

Accountant I Civil Service Exam Study Guide
Balance (taking into account insurance, depreciation, deferred revenue, prepaid expenses, allowance for doubtful accounts, interest expense, wage expense, wage payable, etc.) revenue expenditure, be able to record the removal of a depreciable asset from ... View This Document