Businesses make advance payments for a variety of different expenses. Any expense that is paid in advance of actually receiving the benefit of the payment is considered a prepaid expense for ...

When you buy supplies for your company, you record the expense in your supplies account. Once the supplies are used, they become an expense that must be listed on the income statement. You need to ...

Fixed expenses are easier to plan around because they stay the same from one month to the next. Variable expenses, on the other hand, are less predictable. Understanding both types and how they impact ...