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Describe how an accurral accounting deferent fom cash accounting?
Accrual accounting records an expense/revenue in the period the transaction occurs. Cash accounting recognizes and expense/revenue when cash is exchanged.
What is to expense?
In accounting an expense activity requiring someone to spend money. For instance, paying employees is considered an expense to businesses.
What is the difference between prepaid expense and advance payment?
Prepaid expense is a payment which relevant to services which expected to delivered in the next accounting period, while advance expense is an expense paid in advance for services expected to delivered in the current accounting period.
In an accounting classification what does the EEIC represent?
Element of Expense/Investment CodeElement of Expense Identification Code
What is the accounting entry for Accrued Expense?
Dr. Accrued Expense Cr. Cash or Cash in bank
How do you expense a non cash donation?
make a phisicle donation
Describe how an accurral accounting deferent fom cash accounting?
Accrual accounting records an expense/revenue in the period the transaction occurs. Cash accounting recognizes and expense/revenue when cash is exchanged.
In accounting do you depreciate the installation of a fixed asset?
In accounting the "installation" if you are referring to the cost of having something installed is an expense and is recorded as such, that is an operating expense and is recorded as such. Since it is an expense it is not an actual asset, so can not be depreciated.
What is to expense?
In accounting an expense activity requiring someone to spend money. For instance, paying employees is considered an expense to businesses.
What is the difference between prepaid expense and advance payment?
Prepaid expense is a payment which relevant to services which expected to delivered in the next accounting period, while advance expense is an expense paid in advance for services expected to delivered in the current accounting period.
In an accounting classification what does the EEIC represent?
Element of Expense/Investment CodeElement of Expense Identification Code
What is the accounting entry for Accrued Expense?
Dr. Accrued Expense Cr. Cash or Cash in bank
What is rent and rates as in accounting terms?
Rent in accounting terms refers to a recurring expense that you plan for. Rate refers more to something that results in a debit on expense, but a credit on payables.
What is discount allowed classified as in accounting?
It is classified as an expense to the trader.
How is fuel capture in accounting books?
fuel is a direct expense.direct expense is an expense which can be directly related with production.hence it is recorded as an direct expense in trading account.
What is full accrual accounting?
Accrual accounting is a system which recognizes revenue or expense when it is earned or incurred but not when it is paid or received.
Can You write a sentence using the Word expense?
I kept an expense accounting to give to my boss. The expense of the planned trip made me change my mind and stay home.
