deferral

(noun)

An account where the asset or liability recording cash paid or received is not realized until a future date (accounting period)

Related Terms

  • liability

Examples of deferral in the following topics:

  • Importance of Recognition and Measurement

  • Recognition of Revenue After Delivery

    • A deferral is recorded when a seller receives a subscriber's payment on the subscription; cash is debited and deferred magazine subscriptions (a liability account) is credited.
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