Businesses make advance payments for a variety of different expenses. Any expense that is paid in advance of actually receiving the benefit of the payment is considered a prepaid expense for ...

A prepaid asset is an expenditure of money in advance of when the money is due. For example, you might pay up front for a year's rent or insurance, even though the payments are due monthly. Under ...

ST. PAUL -- Year-end tax planning for calendar year 2008 is upon us, and prepaid farm expenses are one area of concern for many farm operators as they execute year-end tax planning strategies. If you ...

Thanks to accrual basis accounting, many expenses appear on the balance sheet before money changes hands. The company records these expenses, called accrued expenses, in the period they occur. They ...

If you’re running a small business it can be difficult to keep track of expenses. This is particularly true if you have employees who need to charge company-related spending to the business. Business ...