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...
Definition EDI. Electronic Data Interchange (EDI) refers to the computer-to-computer exchange between different companies via electronic communication channels. It refers to an external data exchange from oneâs organizationâs system to the system of a trading partner, e.g. with business documents like orders, confirmations or invoices.