A prepaid asset is an expenditure of money in advance of when the money is due. For example, you might pay up front for a year's rent or insurance, even though the payments are due monthly. Under ...

Accruals are revenues you have earned or expenses you have incurred for which you have yet to receive or pay cash. A company records accruals at the end of the year to match the revenues and expenses ...

Explore trade credit, a cost-effective business tool, to learn its benefits, drawbacks, and accounting implications for managing cash flow efficiently.