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    nmossd1's Avatar
    nmossd1 Posts: 1, Reputation: 1
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    #1

    Apr 19, 2007, 06:56 AM
    Reporting expenses
    Should advertising expenses for the first quarter 2005 be reported with 2004 expenses?
    studentaccount's Avatar
    studentaccount Posts: 7, Reputation: 1
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    #2

    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.
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