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International Accounting
 

Deferred income and prepaid expenses: Problematic aspects of accounting

Vol. 25, Iss. 6, JUNE 2022

Received: 28 April 2022

Received in revised form: 12 May 2022

Accepted: 30 May 2022

Available online: 15 June 2022

Subject Heading: FINANCIAL ACCOUNTING

JEL Classification: M41

Pages: 606–627

https://doi.org/10.24891/ia.25.6.606

Tat'yana Yu. DRUZHILOVSKAYA National Research Lobachevsky State University of Nizhny Novgorod (UNN), Nizhny Novgorod, Russian Federation
tdruzhilovskaya@yandex.ru

https://orcid.org/0000-0003-1345-9841

Subject. This article discusses the issues related to accounting for deferred income and deferred expenses.
Objectives. The article aims to identify problems related to the accounting and reflection of deferred income and expenses in the reporting, and formulate proposals for solving these problems.
Methods. For the study, I used a critical analysis, synthesis, comparison, observation, and the analog approach.
Results. The article reveals the controversial aspects of the interpretation of the economic essence of deferred income and deferred expenses. It presents certain results of a study of scientific opinions on the treatment and reporting of these categories. The article also substantiates the author-developed proposals for solving problematic aspects of accounting for deferred income and deferred expenses.
Conclusions and Relevance. The tendency to exclude deferred income and expenses from accounting is observed in higher regulatory documents. Scientific opinions on the accounting for deferred income and expenses have fundamental differences. Contradictions in the accounting and reflection of deferred income and expenses in the reporting determine the expediency of abolishing them as accounting entities. The results obtained have both applied and theoretical applications in the field of financial accounting.

Keywords: deferred income, deferred expenses

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