高頓網(wǎng)校小編為各位ACCA學員整理了科目重點知識點輔導，希望大家查漏補缺，對考試有所幫助。
       Session 7 Accruals and prepayments
　　Main Contents：
　　1.Accrued and prepaid expenses
　　2.Accrued and prepaid income
　　3.Prepayments and accruals in the financial statements
　　7.1 Accrued and Prepaid expenses
　　● Accrual basis of accounting:
　　The accrual basis of accounting is to record the income and expense in the statement of income as they are earned/ incurred regardless of whether cash has been received/ paid.
　　● Accrued expenses
　　Accrual: an item of expenses that has been incurred during the accounting period but has not been paid at the period end.
　　Dr.　　　Cr
　　Expense account　　　　 xx
　　Accrual　　　　　　　　　　　　 xx
　　Accruals are shown as Liability in the SFP.
　　● Prepaid expenses
　　Prepayment: an item of expenses that has been paid during the current accounting period but will not be incurred until the next accounting period.
　　Dr　　　　　 Cr
　　Prepayment　　　　 xx
　　Expense account　　　　　　　　　 xx
　　Prepayment are shown as Asset in the SFP.
　　7.2 Accrued and prepaid income
　　Some organizations also have sources of miscellaneous income which may also be received in advance or arrears.
　　Accrued income: income has been earned in the accounting period but has not yet been received.
　　Dr.　　　Cr.
　　Accrued income　xx
　　Income　　　　　　　　　　xx
　　Accrued income is an asset item in the SFP statement.
　　Prepaid income: income has been received in the accounting period but which relates to the next accounting period.
　　Dr.　　　Cr.
　　Income　　　　　xx
　　Prepaid income　　　　　　xx
　　Prepaid income is aliability item in the SFP statement.
　　7.3 Prepayments and accruals in the financial statements
　　The statement of financial position ( B/S)
　　ASSETS　　　　　　　 CAPITAL AND LIABILITIES
　　Currents　　　　　　　 Current liabilities
　　Inventories　　　　　　Payables
　　Receivables　　　　　　Accruals
　　Prepayments　　　　　Prepaid income
　　Accrued income
　　Cash at bank
　　Cash in hand
　　The income statement:
　　Accruals or prepayments of income and expenditure are included within the normal income/ expense charges in the I.S.