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What is Accruals and Prepayments Explained about?

This document discusses different types of accounting accruals and prepayments. It explains that accrual expenses occur when services are consumed before payment, and accrual income occurs when services are provided before receiving income. Prepaid expenses involve making payment before consuming services, while prepaid income involves receiving payment before providing services. Examples are provided for each type.

Author

hamza hamza

Language

EN