Accruals and prepayments
Put each cost and each piece of income into the year it belongs to, with the year-end adjustments and the journals behind them.
Start this moduleThe accruals idea: match costs to the year
Rooms in this module
How this works
Each room answers one problem. A task is a few lines of reading, then questions you answer in the books: post to an account, type a figure, sort, match or write a journal. Every answer is marked at once, with the rule behind it. There are no videos.
Words in this module
- Accrual
- An accrual is a cost a business has used by the year end but has not yet paid or been billed for.
- Prepayment
- A prepayment is a cost paid before the year end that will be used after it. It is carried forward as an asset.
Questions
How many rooms and questions are in Accruals and prepayments?
5 rooms and 44 questions. Every question is marked at once.
How long does it take?
About 46 minutes in all. A room takes 8 to 12 minutes, so you can do one at a time.
Is it free?
Yes. Every room in this module is free, and you can start with no account.
What should I do first?
Nothing. This is the first module of Year-end adjustments, so you can start here.