What the difference between DUE & ACCRUAL?
Answers were Sorted based on User's Feedback
Answer / prakash jha
ACCRUAL MEANS RIGHT TO RECEIVE WHEREAS DUE MEANS RIGHT TO ENFORCE TO RECEIVE THE SAME.
FOR EXAMPLE
SALARY OF A DECEMBER MONTH IS ACCRUE ON DAILY BASIS AS WE PERFORMING OUR JOB BUT IT IS DUE ON A PARTICULAR DATE AS DECIDED BY THE MANAGEMENT MAY BE FIRST WEEK OF NEXT MONTH.
| Is This Answer Correct ? | 42 Yes | 2 No |
Answer / harsha
due means the amount yet to be paid for the goods
purchased or service rendered.
Gradually this all are supported by invoces or any other
documents. Accrauls are short term liabilities(such as
interest,tax,utility charges,but not supported by invoice
or a written demand for Payment.while preparing finacial
statement for that accounting period,such liabities are are
estimated on the basis of experience(based on previous
payments)similarly increase in asset of the firm which may
coninaully occur is not taken in to account in order to
comply with accrual basis accounting rule
| Is This Answer Correct ? | 11 Yes | 6 No |
Answer / sourab kumar
ACCRUED basically means belonging to the period. An accrued expense means that expense meant to that period however it may not be supported by any voucher , document or invoice.
While Due Exp. Means exp becoming claimable or say supported by by any document.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / suresh
Jo paisa hame future me dena hai that is due
but jo paisa hame cheque ke jariye dekar material purchase
kar liya, jab tak cheque clear nahi hota tab tak o accrual
hai
| Is This Answer Correct ? | 9 Yes | 12 No |
i m a student of icwai i have just passed out my foundation and i wanna no if i should go for both intermediate group together or not....
Where we show Service Tax Receipt ( Credit Balance ) in Balance Sheet?
Compute the following selling price for the follwing item: Basic cost CST @ 4% on basic cost freight & insurance Rs 200/- Margin @ 15% on selling price
what is span of shares
What is the greatest difficulty in implementing FCA?
what is mba tell me the more benefits in mba
Actually we had Posted P.V.C bills to Indian Railway the total bills amount is Rs.10,00,000/-, and government had passed only Rs. 8,00,000/- and gov. had said that there are no more P.V.c bills are lying outstanding in their a/c, so for now are claiming Rs. 2,00,000/- as loss on sale, i m totally confused what would be the impact on the Profit and loss a/c , and in which group it will come,if I do a entry of:- dr. Central sale @12.5% a/c Rs.2,00,00/- Cr. Loss on sale a/c Rs.2,00,000/- or Will i adjust the Cst@12.5% on Pricipal Value, or will i pass on the entry on total amount i.e Rs.2,00,00/- Plz guide,me soon.
what is the service tax ?
why did you want to join banking sectors?
sir i'm having exp as a HR-Recruiter, now i'm willing to work in other areas of HR.Is learning of accounting courses such as (Payroll mgmt,TDS, service tax, vat, provident fund, gratuity fund, Tally ERP.9 )is necessary? if so, kindly guide me what all accounting courses i need to study to work in other areas of HR. or what are the qualifications required to work in other areas of HR? 2)one of my friend would like to know the job profile for Finance admin..
if not found suitable for the post applied for, are you willing to be considered for a lower post yes / no ? why?
Expand---------PTSR