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Introduction to financial Accounting

lundi 14 octobre 2019 / 12:15 - 14:05 @ Mail - MS130
Geneva school of economics and management - Directement rattaché à la Faculté
Lucas Olarreaga
on 15/10/19
From the Expense Recognition Principle, we can assume that a prepaid expense isn’t an expense until it enters the period where the service took place. But, doesn’t this expense Recognition Principle infringe on the Accrual Principle, that says you should record the expense or revenue at the time it is made and not when you receive your part ?

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