BÀI GIẢNG kế TOÁN QUỐC tế chapter 11 accruals and prepayments
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Chapter 11
ACCRUALS AND
PREPAYMENTS
Learning Objectives
1. Accruals
2. Prepayments
2
Accruals
• Expenses charged against the profits of a
period even though they have not yet
been paid fo.
3
Prepayment
• Payments made in one period but charged
to the later period to which they relate.
4
Accruals and prepayments
Remember
Remember that
that the
the financial
financial statements
statements
are
are prepared
prepared on
on an
an accruals
accruals basis
basis and
and that
that
accruals
accruals and
and prepayments
prepayments are
are likely
likely to
to
feature
feature in
in an
an accounts
accounts preparation
preparation
question.
question.
5
