Interested to Buy Any Domain ? << Click Here >> for more details...
what is the meaning of Accrual Concept?
- 6 Answers
- 14672 Views
- emc2, IHG InterContinental Hotels Group, Rivera Manpower Services, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ankesh gupta
Accrual concept is related to income. it means due but not
received.for eg.i rented my house to tenant @rs 1000 per
month. tenant start living in house from 1 april,09 and
didnot pay any amount till june,09.then 3 months rent
amounting to rs 3000 will be shown in balance sheet on
june, 09. and same is shown in p&l account on credit side.
| Is This Answer Correct ? | 13 Yes | 2 No |
Answer / abdullah amer
Accural Concept implies that revenue is recognizes in the
period in which it is earned irrespective of the fact
whether it is received or not during that period.
| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / h.r. sreepada bhagi
Under Accrual Concept of Accounting, all incomes are
accounted when it happens (Sale of Products or rendering of
Services) and not when the money is received. Expenses are
accounted when they are incurred and not when they are paid.
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / amar
Accurual conept means the transaction happen in a day we
have to taken the entery just we have to meantion its that
payment will happen credit base are cash base
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / zulkif
The accrual concept in accounting means that expenses and revenues are recorded in the period they occur, whether or not cash is involved.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / nandha
Transactions are recorded in the books of accounts. But amount not paid or received yet.
| Is This Answer Correct ? | 0 Yes | 0 No |
What is the differance between Captial & revanue?
RESERVE A/c - What is the type of A/c means is this a Personal A/c or Real A/c or Nominal A/c?
Explain dual aspect term in accounting?
Closing entries of P&L account
what is contingent liability
export sales contract and domestic sales contract? india's trade in commercial services?
If the employee has no any experience and he not achieved or he not did any specified work in his student life while he looking job if interviewer ask about any thing about his acchivement what he have to say
In a housing society accounting if a defaulter having dues consisting of principal amount and simple interest, pays a part amount whether the received amount should be adjusted first against the interest dues and accordingly reduce the balance principal dues or adjusted only against the principal amount, allowing outstanding simple interest to contineously increase/
Pls tell me the basic rules of accounts for interview in finanace or accounts section
when a customer buys a good. we have to debit bank and credit inventory equaly. but wouldnt selling a good make a profit?
in reply of sreedapa answer ,suppose for the m/o march telephone expense is Rs.800 and for the m/o april Rs.200 For this we will pass tthis entry : Telephone expenses Dr 800 To Tel expenses payable 800 Telephone Expenses Payable Dr 800 to Bank/cash 800 (For the m/o march) And for the m/o april, we will make the provision in the m/o March Telephone expenses Dr. 200 To Telephone Expenses Payable 200 Plz advice
explain circumstances under which dissolution of solvent and insolvent partners are applicable using garners v/s murray rule
Audit 
