Tag: Prepayments

O Level Notes : Accounts - Accruals and Prepayments

zimsake Aug 29, 2021 0 586

Uptill now, you have studied that we deduct all the expenses from the gross profit to find the net profit of the time period. But what if, the expenses belong to some other time period – that is that they are accrued(pending to be paid) or prepaid for the future time period.

Tag: Prepayments

O Level Notes : Accounts - Accruals and Prepayments

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