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nmossd1
Apr 19, 2007, 06:56 AM
Should advertising expenses for the first quarter 2005 be reported with 2004 expenses?
studentaccount
Apr 19, 2007, 08:01 AM
it depends... has it been paid in the financial year of jan 04 to dec 04? if so then you can post it... but it will be noted as a PREPAYMENT.. but i don't see why not.

99% certain it would be:

Deffered expense is an asset. It is recorded when a liability is recorded, but the related expense will be incurred only in the future.