Accruals
(Accruals are used where an invoice should have been received, or a payment made, through the I/S, but has not yet happened. The expense can be recorded in the I/S, and the accrual recorded in the SFP even though an invoice and payment has not yet been recorded)

Prepayments
(Prepayments are used when an invoice has been received and entered, or a payment made, and the transactions recorded in the I/S, in advance of the current accounting period. So, for example, rent paid three months in advance)