What are accruals and prepayments and in what ways do businesses adjust their accounts for accruals and prepayments. Please use examples to explain your answer (ps58-63).
Read through the textbook and the literature (including online sources, accounting books, academic papers and practitioners’ papers). The slides contain only main points which might not be enough for the final exam. Page information here is referring to the core textbook (Business Accounting and Finance, Davies and Crawford, 1st Edition: Pearson).