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Accruals and Prepayments (Other Receivables and Other Payables)

Accruals and Prepayments (Other Receivables and Other Payables)

Author: Jamshed Ali

To explain accruals and prepayment of expenses and revenues as adjustments to F/S.

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Key Terms

  • Accrued/Owing/Outstanding/Unpaid/In arrears Expenses 
  • Prepaid/Unexpired Expenses
  • Accrued/Outstanding Revenues 
  • Prepaid/Unearned Revenues
  • Other Receivables
  • Other Payables
  • Matching/Accrual Concept

Other Receivables and Other Payables

A comprehensive slide show on accruals and prepayments.

Source: Self

Practice Questions on Accruals and Prepayments

Exam Questions on the topic.