what is difference between income accrued and income
receivable?
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Answer / h.r. sreepada bhagi
Indeed there is difference between the two. Income accrued
refers to the income attributable a period which is
receivable in future but it may or may not be due for
receipt as on the date of closing the accounts.
However, Income receivable refers to those income which are
accrued as well as become due for receipt as on the date of
closing the accounts.
For example, as of 31.03.10 A company has $5,00,000/-
accrued income, but out of this due date for $1,00,000/- is
31.03.10 and the remaining amount is receivable at the end
of next 4 months equally.
As on 31.03.10, $5,00,000/- is accrued income and
$1,00,000/- is receivable. "All receivables, as on a
particular date are accrued, but not necessarily be
receivable" - This because of credit period or future due date.
| Is This Answer Correct ? | 22 Yes | 2 No |
Answer / vivek
ACCRUED INCOME MEANS THE INCOME WHICH HAS ACCRUED BUT HAS
NOT BEEN RECIEVED YET.eg.commission to be recieved
INCOME RECEIVABLE IS THE INCOME WHICH WILL BE RECIEVED IN
THE NEARBY FUTURE.IT IS MORE LIKE ACCOUNTS RECEIVABLE.
| Is This Answer Correct ? | 11 Yes | 10 No |
Answer / xavier venancious
Income Accrued is the income receivable, of which the
period may be within the relevant accounting period or may
not be.
But Income Receivable is the income due for a specific
accounting period. It is part of accrued income.
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / ranjini panneer selvam
Income accured means income which is accured for the future
purpose and ulitise when needs and income receivable means
income which is yet to receive on hand.
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / dushyant verma
Income accured mean that Income has been accured but did
not receive but income receivable mean that Income can be
received or it is receivable.
| Is This Answer Correct ? | 5 Yes | 16 No |
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