Accounting 101 - Prepaid expenses explained

Prepaid expenses: an accounting term that deals with timing differences between paying for something and using it. This short video covers examples of prepaid expenses in your personal life, in small business, as well as large publicly listed corporations. We will also go through the prepaid expenses accounting entries. Do you have any other examples of prepaid expenses in your personal life? Please post them in the comments below this video, as I would love to compile a list of as many good prepaid expense examples as possible! Philip de Vroe (The Finance Storyteller) aims to make strategy, finance and leadership enjoyable and easier to understand. Learn the business vocabulary to join the conversation with your CEO at your company. Understand how financial statements work in order to make better stock market investment decisions. Philip delivers training in various formats: YouTube videos, classroom sessions, webinars, and business simulations. Connect with me through Linked In!