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...
What is Electronic Data Interchange (EDI)? Electronic Data Interchange (EDI) is the electronic interchange of business information using a standardized format; a process which allows one company to send information to another company electronically rather than with paper. Business entities conducting business electronically are called trading partners.