what is accrual basis of accounting?explain in detail?
- 5 Answers
- 20497 Views
- Deloitte, Northern Trust, I also Faced
- E-Mail Answers
Answer Posted / dharmendra jha
Accrual basis means something that becomes due especially
an amount of money that is yet to be paid or received at
the end of the accounting period.
The accrual concept under accounting assumes that revenue
is realised at the time of sale of goods or services
irrespective of the fact when the cash is received. For
example, a firm sells goods for Rs 10,000 on 20th March
2010 and the payment is not received until 10th April 2010,
the amount
is due and payable to the firm on the date of sale i.e.
20th March 2010.
It must be included in the revenue for the year ending 31st
March 2010.
Similarly, expenses are recognised at the time services
provided, irrespective............
| Is This Answer Correct ? | 37 Yes | 6 No |
Post New Answer View All Answers
what are the voucher entries in tally for medical insurance
1.Which type of records maintaing for Hotels and provision Stores. 2.in Which type of returns we are going to file. tell me whos know brefiely,,
what is the manual procedure for accounting
GRIR is the clearing account so it the balance will be zero, so how it will impact with balance sheet and why we require to reconcile that account ?
How can do it TDS in accounts?
Tell me how can you explain the basic accounting equation?
What is the difference between depreciation and amortization?
Write about the media role in daily life
Capital secure should be shown in which side of the balance sheet?
how many types of currencies are there in oracle r12
Explain me have you ever heard about tds, what it is?
Company XYZ split 5:1 on June 30, 2008. Date Close Price # of Shares Revised Closed Price Revised # of Shares June 15, 2009 $75.00 5,000 $75.00 5000 April 23, 2009 $72.00 7,500 $72.00 7500 March 31, 2009 $67.00 135 $67.00 135 March 31, 2008 $275.00 531 $55 2755 November 30, 2007 $233.00 266 $46.6 1330 October 6, 2006 $1,333.00 10 $266 50
Why companies are issuing their shares at premium and discount? What benefits the companies and the investors can get in both the cases?
Other accounting interview questions to expect when you interview for an accountancy job include:
sir what is the depreciation and how to calculate depreciation as per company books, i need as per IT ACT, AND Companies Act give me clarification with example
