Dealing with Prepayments and Deferred Revenue

One of the most common search terms that brings people to my website is “Accruals Prepayments and Deferred Revenue”, and the search engine brings up many complicated answers, so I will attempt to bring an explanation in plain English for pre-payments and deferred revenue. A simple one line summary, they are just goods and services that have been paid for but not yet supplied. Lets look at a simple example that we all know, once a year we get the invoice for our car or household insurance, this... Read the full text.
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