Interested to Buy Any Domain ? << Click Here >> for more details...
what is difference between income accrued and income
receivable?
- 5 Answers
- 25895 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Indeed there is difference between the two. Income accrued
refers to the income attributable a period which is
receivable in future but it may or may not be due for
receipt as on the date of closing the accounts.
However, Income receivable refers to those income which are
accrued as well as become due for receipt as on the date of
closing the accounts.
For example, as of 31.03.10 A company has $5,00,000/-
accrued income, but out of this due date for $1,00,000/- is
31.03.10 and the remaining amount is receivable at the end
of next 4 months equally.
As on 31.03.10, $5,00,000/- is accrued income and
$1,00,000/- is receivable. "All receivables, as on a
particular date are accrued, but not necessarily be
receivable" - This because of credit period or future due date.
| Is This Answer Correct ? | 22 Yes | 2 No |
Answer / vivek
ACCRUED INCOME MEANS THE INCOME WHICH HAS ACCRUED BUT HAS
NOT BEEN RECIEVED YET.eg.commission to be recieved
INCOME RECEIVABLE IS THE INCOME WHICH WILL BE RECIEVED IN
THE NEARBY FUTURE.IT IS MORE LIKE ACCOUNTS RECEIVABLE.
| Is This Answer Correct ? | 11 Yes | 10 No |
Answer / xavier venancious
Income Accrued is the income receivable, of which the
period may be within the relevant accounting period or may
not be.
But Income Receivable is the income due for a specific
accounting period. It is part of accrued income.
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / ranjini panneer selvam
Income accured means income which is accured for the future
purpose and ulitise when needs and income receivable means
income which is yet to receive on hand.
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / dushyant verma
Income accured mean that Income has been accured but did
not receive but income receivable mean that Income can be
received or it is receivable.
| Is This Answer Correct ? | 5 Yes | 16 No |
I have a existing Oracle applicttions and need to bring one of the new business on it. The new business will use GL, AP and FA. We will use existing COA. This business will have 3 sets of books (1- tax book, from April to March; 2- Primary book, from July to June; 3- Reporting book, from July to June); All books will have same currency; HOW DO I TRANSFER DATA FROM PRIMARY BOOK INTO TAX AND REPORTING BOOKS EVERY MONTH OR ON WEEKLY? IS THERE ANY STANDARD ORACLE PROCESS WHICH CAN BE SCHEDULED? THE REPORTING BOOK WILL HAVE DIFFERENT DEPRECIATION METHOD SO HOW DO I NOT TRANSFER DEPRECIATION FROM PRIMARY TO REPORTING BOOK AND DO SEPERATE DEPRECIATION IN REPORTING BOOK FOR THE SAME ASSET THAT IS ALSO IN PRIMARY AND TAX BOOK?. HOW DO I APPROACH ON SETTING THESE NEW SETS OF BOOKS? Thanks, KK
What is contra account?
difference between company and industry?
what is the capitla expenditure & revenue expenditure give the 5 difference between capital & revenue expenditure and also its example?
Please give me jounranl entry for following Paid on account Rs. 15000...
what is accounting standard?
58 Answers ABC, Accounting, Banking, College School Exams Tests, Genpact, JK Associates, Livewire, TCS, Vijai Electricals, YCH,
What is mean by ETDS
under what circumstances, a realisation account is prepared. tell all the situations
How many types of routing?
What function within asset accounting allow mass processing?( any 2 answer) • Mass asset changes • Mass asset retirements ( abavn) • Mass asset acquisition ( abzon) • Mass deletion of active assets with net book value zero.
How can a shopkeeper maintain the daily data in tally
how u can control stock movments....like issuing raw materials receiving...in practical way..basically in ,y org we r using bin cards,barcodes etc but somehow need more concentration... help me frds..
Audit 
