Term
| expenses incurred and revenue earned in the current accounting period but not recorded as of the end of the period |
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Definition
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Term
| expenses that build up or accumulate during the current period but will not be paid until the next period; also referred to as accrued liabilities |
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Definition
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Term
| revenue that has been earned in the current accounting period but will not be received until the next period; also referred to as accrued assets |
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Definition
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Term
| expenses and revenue that have been recorded in the current accounting period but are not incurred or earned until a future period |
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Definition
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Term
| an advance payment for goods or services that benefit more than one accounting period; also referred to as prepaid expense or a deferred charge |
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Definition
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Term
| the advance receipt of revenue that will not be earned until a future accounting period; also referred to as unearned revenue or deferred credits |
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Definition
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Term
| a revenue account showing the amount earned on subscription sales |
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Definition
| Subscriptions Income account |
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Term
| a liability account showing the dollar amount of subscriptions due to subscribers of a publication |
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Definition
| Unearned Subscriptions Income account |
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