Prepaid Expenses (SF.BS.PrepaidExpenses)

Prepaid Expenses (SF.BS.PrepaidExpenses) refers to goods or services that have already been purchased, but not yet been fully consumed or used. Prepaid Expenses (SF.BS.PrepaidExpenses) is a part of current assets, as benefits are expected to accrue within one year or an operating cycle of the company, whichever is longer, from the current fiscal period end date.
Prepaid assets may include prepaid fees, commissions, taxes, insurance expenses, prepayments to reinsurers, rents, or other expenses.

Prepaid Expenses (SF.BS.PrepaidExpenses) includes:

  • Accrued revenue, if the company does not differentiate it from prepaid expenses
  • Prepaid taxes

Prepaid Expenses (SF.BS.PrepaidExpenses) does not include: