Advance definition — AccountingTools
www.accountingtools.com › articles › 2017/5/5Mar 19, 2021 · Accounting for an Advance. If an advance is made by a customer, it is initially recorded by the recipient as a liability, since no performance has yet been completed. If the advance is made to a supplier, the payer records it as an asset, since no related receipt and consumption has occurred. A payment to an employee prior to the employee working the related hours is also an advance, and is initially recorded by the employer as an asset.
ADVANCES IN ACCOUNTING - Elsevier
www.elsevier.com › journals › advances-in-accountingFounded in 1982, Advances in Accounting publishes original research that promises to advance our understanding of accounting over a diverse range of topics and research methods. The Journal welcomes research of significance across a wide range of basic and applied research methods including analytical, archival, experimental, survey and case study.