Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Chip Stapleton is a Series 7 and Series 66 license holder, CFA Level 1 exam holder, and ...

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 ...

Accrual accounting requires a business to record revenues and expenses in the period in which they are earned or incurred, regardless of when payment occurs. When payment occurs on a date that is ...