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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.
The subledger shows detail for part of the accounting records such as property and equipment, prepaid expenses, etc. The detail would include such items as date the item was purchased or expense incurred, a description of the item, the original balance, and the net book value .
Recent statistics (OECD Communications Outlook 2005) indicate that 40% of the total mobile phone market in the OECD region consists of prepaid accounts. This service was invented by Portuguese provider TMN, while researching for a means to increase penetration of mobile technology by allowing anyone to buy a fully working (usually requiring a quick and simple activation process) mobile phone ...
The cards sometimes serve as alternatives to bank accounts. “Government entities also use prepaid cards to disburse benefits, avoiding the need for check payments,” Ives says.
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.
The PayPal Prepaid Mastercard is a versatile prepaid debit card that offers easy integration with your PayPal account. It enables users to transfer funds from their PayPal balance directly onto ...