Generally accepted accounting principles dictate that rent expense should be shown on the financial statements of a business as a consistent amount from month to month. In accounting parlance, that's ...

Taxes become deferred when a company's financial accounting methods are different than the acceptable tax accounting methods. This creates a discrepancy between the general ledger and the amounts ...

Accrual accounting, a system of accounting designed to account for sales and expenses in the period they were incurred, allows certain expenses, assets, and sales to be deferred to the next accounting ...