Prepaid Expenses

Metadata

  • Id: bs_prepay
  • Type: fundamentals
  • Subtype: balance_sheet
  • Units: currency
  • Decimal Points: 0
  • Currency Convertible: Yes
  • Tags: “prepaid expenses”, “prepaid assets”, “prepayments”, “deferred expenses”, “advance payments”

Description

These are the expenses that a business has paid in advance for goods or services that will be received or used in the future. They are considered to be assets because they reduce the amount of cash that will be spent in the future.