When doing accounting, are expenses cut off at midnight at the end of the period? or is there some leeway?
for example, if I had live entertainment playing from 10:00 pm to 1:00 am on the last/first day of the period would I have to prorate the cost between the two periods? and if possible, can you provide me the rationale behind your answer please
DR + Mrs Bears face
In the UK the expense would go in the period that the bill was paid.
You'd go at the start time for this scenario.
no prorating - go on start time
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