Interested to Buy Any Domain ? << Click Here >> for more details...
Difference between outstanding income and accrued income?
- 8 Answers
- 32191 Views
- I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
Kirti Verma's answer is correct : It's explained with
example below :-
1. Billing period for Telephone Service provider 15th to 14
of the next month. At the end of the first month, income is
accrued but not due & so is not outstanding income at the
end of the month.
Bill will be sent after 14th of the following month & if
money is not received by the end of that month & is due,
it's outstanding income.
Unless billing is made for an income it will not fall due &
so is not an outstanding income though it's accrued.
| Is This Answer Correct ? | 16 Yes | 7 No |
Post New Answer View All Answers
What are negative postings?What are Credit memos ?Payment Requests ?
WHAT IS OPERATING CYCLE?
what is the last date of deposit TDS on liability for the assessment year 2010-11
what is revenue recognition rule, and can you specify the answer.
a cheque is received from a debtor and is deposited in the bank on the same day. what will be the journal entry?
Aptitude Test Questions
Define the term material facts in accounting?
How calculate holding company account?
Tell me what is working capital?
Define scrap value in accounting?
If a transaction was missed completly how do you find it?
Can anybody tell me diference between provisions of Profit and Loss account prepared as per company act & Income Tax Act?
What is the marginal cost formula?
Where the financial accounting fails the cost accounting for is rescue but still there are some limitations deficiencies in the system?
what is the Differed Tax Liability & How it is calculate ?
