To record the adjusting entries for a prepayment at the end of an accounting period, debit the related, actual expense account to denote the expense recognition, and credit the asset account of the prepaid expense to reduce its outstanding balance.
International integration is a financial concept in which countries have an ever greater number of financial transactions, investments and interests outside their borders.Through financial integration, nations become increasingly financially interdependent.efine Integration in Corporate Communication. ... International integration is a financial concept in which countries have an ever greater number of financial...
Electronic Data Interchange Electronic Data Interchange (EDI) is the electronic exchange of business information using a public standard format. It provides a common language for formatting business transactions which facilitates business-to-business integration by the flow of standardized electronic transactions between trading partners throughout the world.