To record the adjusting entries for a prepayment at the end of an accounting period, debit the related, actual expense account to denote the expense recognition, and credit the asset account of the prepaid expense to reduce its outstanding balance.
International integration is a financial concept in which countries have an ever greater number of financial transactions, investments and interests outside their borders.Through financial integration, nations become increasingly financially interdependent.efine Integration in Corporate Communication. ... International integration is a financial concept in which countries have an ever greater number of financial...
DEFINITION of 'Enterprise Application Integration'. The translation of data and other commands from one application format into another. Enterprise application integration is an ongoing process between two incompatible systems. This can allow for differing financial applications to interface effectively and process data or transactions.