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What is accrual? Give example for the same?
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Answer / a.madhu sudhan rao
Accrual Means Outstanding
Wages A/c Dr
To Outstanding Wages
Outstanding Income
To Income
| Is This Answer Correct ? | 12 Yes | 3 No |
Answer / satyaki_raju@yahoo.com
An accounting system which recognises revenues and expenses
as they are earned are incurred respectively without regard
to the date of receipt or payment
| Is This Answer Correct ? | 10 Yes | 2 No |
Answer / aparna reddy
accrual means due but not paid or we can say outstanding
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / seenu
Accrual basis means due but not received are paid.
For example:
If some companies will deposit an amount in bank for one or
more than one years. Then interest will be paid when the
deposit matured. But end of the financial year the interest
income will be provided as interest accrued between deposit
date and end of the financial year end.
| Is This Answer Correct ? | 2 Yes | 1 No |
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