合工大企业会计学（全套课件128P）.ppt

Accruals and prepayments 6.1 what is accruals and prepayments IAS 1 states that financial statements should be prepared on an accruals basis 6.1 what is accruals and prepayments ? Accruals are expenses incurred by the business during the accounting period but not yet paid for ? i.e. expenses in arrears ? Prepayments arise when expenses are paid for before they have been used ? i.e. expenses in advance 6.2 accruals and prepayment example Tony pays rent at the end of each month, monthly rent is 100, he did not pay rent for the last month of 2010 until 10th of January, 2011. The accounting