Examples of prepaid expenses include insurance, rent, leases, interest, and taxes. Prepaid expenses aren’t included in the income statement per generally accepted accounting principles (GAAP).

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

Here are some examples of gross revenue ... against revenue — is provided separately on accounting statements. It may appear on financial statements as any of the following: Net operating revenue Net ...