what do mean by accruals?

Question Posted / praveen shettigar

3 Answers
7160 Views
Hindustan Unilever Limited, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

what do mean by accruals?..

Answer / praveen shettigar

income earned but not received& expenses incurred but paid
in next month.

Is This Answer Correct ?

9 Yes

2 No

what do mean by accruals?..

Answer / shujjat bhatti

accrual accounting means if sale some thing on account and
cash not receive that is called accrual accounting and if
we utilize utility bills and payment made on next month
that expense is also called accrual acounting base.

Is This Answer Correct ?

1 Yes

0 No

what do mean by accruals?..

Answer / babhu kanchupalli

Basis of accounting is mainly devided into two types..They are cash basis of accounting, accrual basis of accounting..

Based on accrual basis of accounting Expenses are recorded when they are incurred but not when they are paid.....same way Revenue is recognized when they are earned but not when they are received.....
Ex : 1 . Prepaid expenses.
2 . Unearned income.

These are some of the examples of accrual basis transactions.

Is This Answer Correct ?

0 Yes

0 No

Post New Answer

More Banking Finance Interview Questions

Differentiate between trade, commerce business and industry.

0 Answers

What are the advantages of ratio analysis?

0 Answers

why do u came to EXIM bank?

0 Answers

How will you find out the misappropriation in accounts?