Many businesses pay for blocks of certain services up front. These services retain a monthly value to the business but may not be expensed, or charged to an expense account, in full at the time the ...

Accounts Payable: Accounts payable represents obligations to pay for goods or services that have already been received. In ...

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 ...