Interested to Buy Any Domain ? << Click Here >> for more details...
What is Deferred income what is the difference between accrued income how it will effect on Financial statement
- 1 Answers
- 2285 Views
- Cap Gemini, I also Faced
- E-Mail Answers
Answer Posted / tari
Hi
Deferred income refers to suspension of revenue already receivable but has not yet met all the conditions for revenue recognition in that specific period as per IFRS 15 e.g. may be proceeds received for a sale of inventory but the inventory is yet to be handed over i.e. control is yet to be passed on. Accrued revenue on the other hand refers to anticipated revenue accounted for in the period but has not yet met the criteria for recognition. Accrual of future revenue is actually prohibited by IFRS
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
Particulars Dr Cr Capital 10,000 Machinery 3000 debit 2500 1400 sales - 14,500 drawings 900 purchase 9500 wages 5000 bank 1500 Opening balance 2000 rent 450 salary 200 carriage 150 total ___________ _________ 25,900 25,900 ____________ ________ how to find closing stock as on 31st dec,1998. wages outstanding 200/- sunnery expenses outstanding 100/- rent prepaid 100/-
In india i did MA BE.d but now i am applying for student visa in australia in masters of professional accounting will i face any problem in interview call that why u change ur course how i ill support my answer
x pay incentive to y with tds@10%.what is the journal entry in the books of x & y?
I am working in govt. sec. How to make journal entry in books for Fix Deposit
lic (life insurance corporation)how much he or she as to deduct income tax on his gross annual salary. please give with examples
Tell me under the accrual basis of accounting, when revenues are reported in the accounting period?
What is double-entry accounting? Explain with an example?
I have transferred the Plant & machines to our Branch which are located in other state. plz told me how can i show the Machin stk trfr amt in return?
There is no item category assigned to account
What is the use of accounting?
Explain what does financial statement of the company includes?
What is the definition(meaning) for the Final accounts adjustment 'Uninsured goods lost fire'?
what is a difference between public and private accounting?
How is the accounting for lease transactions done?
What are the disadvantages of double entry system?
