A deferral is a term used in accounting and finance that refers to delaying the recognition of a transaction in the companys accounting records until a future fiscal period or periods. Deferrals are used to put off revenue or expenses until a later period, allowing a business to more accurately reflect its financial activity. Deferrals can be expenses prepaid or revenue not yet earned, and they allow the expense or revenue to be later reflected on the financial statements in the same time period the product or service was delivered. Examples of deferrals include insurance premiums, subscription-based services, prepaid rent, deposits on products, and service contracts.

In addition to accounting and finance, the term "deferral" can also refer to the act of delaying or postponing something until a later time. For example, a student may receive a deferral from a college, which means their application has been deferred to the regular round for further review.

Overall, the meaning of deferral depends on the context in which it is used.