Interested to Buy Any Domain ? << Click Here >> for more details...
Difference between outstanding income and accrued income?
- 8 Answers
- 31849 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
How is the accounting for lease transactions done?
Into which account do we close the revaluation account balance during the winding up of a company?
what are voucher entries for EPF treatment in tally
What are the accounting events that are frequently involved in compound entries?
Is an "account receivable" and "goodwill" real accounts in accounting?
What is the difference in accounting and marketing?
What is the importance of accounting standards?
I want to know accounting information in oracle apps projects costing module. i.e Which account is cr and which account db. Please help me.
My question is on Opening & Closing Stock Suppose Closing stock of 2014-15 is Rs 30 lakhs & Also we filed return & ROC too for 2014-15. Opening stock for 2015-16 should be Rs 30 lakhs but we found that some purchase for feb & March 2015 Stock has been entered in tally Its taken directly to purchase split of stock not made & in sales to same of 2 lakhs no split of stock is shown. Those stock need to make changes in 2015-16 what was the process ? And what will be adjustment entry ?
How do you maintain accounting accuracy?
can i direct payment made t code f-53 to bsnl agst telephone exp.? or 1st create a/c.of bsnl and book in fb60 then payment made whose correct?
How time sheets are maintained?
What information is included in a bill for services?
What does the abbreviation m mean in accounting?
What steps would you take before approving an invoice for payment?
