
What is difference between Deffered and Prepaid?


Deferred refers to an expense or revenue that has been recognized but not yet paid or received, while prepaid refers to an expense that has been paid in advance but not yet incurred.
Deferred expenses ...read more



Deferred refers to an expense or revenue that has been recognized but not yet paid or received, while prepaid refers to an expense that has been paid in advance but not yet incurred.
Deferred expenses ...read more

Deferred refers to an expense or revenue that has been recognized but not yet paid or received, while prepaid refers to an expense that has been paid in advance but not yet incurred.
Deferred expenses ...read more

Deferred refers to an item or transaction that has been paid or received but not yet recognized as revenue or expense in the financial statements. Prepaid refers to an expense that has been paid in ad...read more

In general , Any thing paid early before the due date we can say as prepaid Ex- prepaid rent Deffered- any thing we paid early befor the due date but not used yet. Ex- advt expenses

Prepaid expenses are listed on the balance sheet as a current asset, Deferred expenses, also called deferred charges, fall in the long-term asset

Deferred expenses, similar to prepaid expenses, refer to expenses that have been paid but not yet incurred by the business.

Deffered expense is carried forward to more than 1 period whereas prepaid expense is a current asset only for 1 period.

Both are advances. However, prepaid is not for long term apart from this, deffered is for long term expenses

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