Business, Legal & Accounting Glossary
A deferred expense is an expense incurred which does not apply to the current accounting period. Instead, the expense is debited to a ‘Deferred expenditure’ account in the non-current assets area of a chart of accounts. When such expenditure becomes current, it can then be transferred to the profit and loss account as normal.
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This glossary post was last updated: 20th April, 2020 | 1 Views.