Made by craftsmen who take casts of you and your horse, the fit of your saddle will be exact as possible and to your specifications. These saddles are priced in the thousands of dollars. If you have a difficult to fit horse or are serious in pursuing a specific sport a custom-made saddle may be worth the investment.
deferral. In accounting this means to defer or to delay recognizing certain revenues or expenses on the income statement until a later, more appropriate time. Revenues are deferred to a balance sheet liability account until they are earned in a later period. When the revenues are earned they will be moved from the balance sheet account to revenues on the income statement. Expenses are deferred to a balance sheet asset account until the expenses are used up, expired, or matched with revenues. At that time they will be moved to an expense on the income statement.
Deferred revenue (or deferred income) is a liability, such as cash received from a counterpart for goods or services which are to be delivered in a later accounting period, when such income item is earned, the related revenue item is recognized, and the deferred revenue is reduced.