What is accrual concept of accounting?

AnswerBot
1y

Accrual concept of accounting recognizes revenues and expenses when they are earned or incurred, regardless of when cash is received or paid.

  • Accrual concept is based on the matching principle, which e...read more

Pritam Pawar
19h
Accrual accounting is an accounting method in which payments and expenses are credited and debited when earned or incurred. Accrual accounting differs from cash basis accounting, where expenses are re...read more
Pritam Pawar
19h
If an insurance premium is paid for the entire year from January 1st to December 31st, but the books are closed on March 31st, the accounting treatment would be to record the full premium as a prepaid...read more
Madhavi Madhavi
1mo
Accrual Concept: 1. Understood the journal entries 2. Recording of expenses or revenue 3. Incurred or earned but still has not been recorded in financial statements.
Kavana G.B
5mo
The accrual concept is a fundamental accounting principle that requires revenues and expenses to be recognized when earned or incurred, regardless of when cash is received or paid. Key aspects of the ...read more
P.Bhargavi
8mo
Accrual accounting is an accounting method in which payments and expenses are credited and debited when earned or incurred.It differs from cash basis accounting,where expenses are recorded when paymen...read more
Prathamesh Joshi
9mo
Accrual concept: 1 understood the journal entries 2: recording of expenses of revenue 3: incurred or earned but still has not been recorded in financial statements.
Prathamesh Joshi
9mo
Accrual concept: 1 understood the journal entries 2: recording of expenses of revenue 3: incurred or earned but still has not been recorded in financial statements.
Kesavarthana D
9mo
Accrual concept : 1 understood the journal entries 2: recording of expenses of revenue 3: incurred or earned but still has not been recorded in financial statements.
rupaswi a
9mo
Income and expenses are recorded as and when they are earned or incurred and not as and when cash received and cash paid
Anonymous
9mo
Accrual Concept: 1. Understood the journal entries 2. Recording of expenses or revenue 3. Incurred or earned but still has not been recorded in financial statements.
Mohammed Tousif
10mo
This concept is an fundamental concepts, it records all the business cash or credit transactions of an business
Manohara s Manu
10mo
The tratransaction to be recorded in time period in which they occur
Aiswarya Jayaraj
11mo
A financial accounting method in which revenue and expense are recorded when a transaction occurs rather than when money is exchanged
Anonymous
11mo
Accrual is concerned with expected future cash receipts and payments. Accrual purchases or sales, wages outstanding, interest earned but not received etc ...
Narasimha Damai
11mo
Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction occurs vs. when payment is received or made. The method follows the matching principle, which says ...read more
Renjith Kumar
11mo
This is a fundamental concept, its records business cash or credit transactions.
Vaishnavi pawar _044_
1y
I am member of middle class family.My father works in govt sector.he is Sub inspector rather than my parents I have one elder brother he is working in tata company in dharwad
Chaithrashree CC Chaithra
1y
record of revenue or expenses that have been earned or incurred but have not yet been recorded in the company's financial statements.
Deepika Shetty
1y
An accrual concept means is a record or expenses that have been earned or incurred but have not yet been recorded in the company's financial statement
PUNITHA N
1y
Accural accounting is used when revenue and expenses are recorded.. when transactions are taken place and when payments are made
Hemalatha
1y
An accrual is an accounting term used to describe the process of recording income or expenses when they occur, rather than when payment is made or received. This means that a company can record income...read more
Hemalatha
1y
Basic accounting concepts used in the business world cover revenues, expenses, assets, and liabilities. These elements are tracked and recorded in documents including balance sheets, income statements...read more
Arun Kevin
1y
Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction occurs vs. when payment is received or made. The method follows the matching principle, which says ...read more
Anonymous
1y

Accounts concept revenue and balance sheet future cost and receive very important year of accounting

Reddyvari Bhargavi
1y

Accounting is a process of business in janaraly includes profit and loss accounts

MAHAMMAD AKBAR
1y

Accrual concept of accounting is a financial accounting method that allows a company to record revenue before receiving payment for goods or services sold and record expenses as they are incurred.

AK Kutty
1y

Accounting is the concept of recording revenues and expenses as incurred. Also impact the balance sheet, receivables or payables may be recorded associated cash receipt or cash payments, respectively.

Mahalakshmi K
1y

A company can record the transaction of receipt and payment before they received or paid.

sravjesus sravraj
1y

Accrual accounting is anaccounting method where revenue or expenses are recorded when a transaction occurs vs when payment is received or made.

Subhiksha Y
1y

Accrual concept is a method of accounting where revenues and expenses are recognised when they are earned or incurred and not when they are paid or received

Panneer selvam. S18uco037
1y

Accrual accounting concept is the way of method to know about where or the expense are recorded when the transaction occurred when the payment is received or made. The method follows the matching prin...read more

Durga Prasanna
1y

We can maintain one account to record all the transactions.

ASHOK KESHRI
1y

Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction occurs vs. when payment is received or made. The method follows the matching principle, which says ...read more

Divya.S
1y

Revenue expenses or record

Anandi Senghani
1y

Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction occurs vs. when payment is received or made

Anonymous
1y

Accrural accounting, revenue and cost recongnized as they are earned or incurred irrespective or whether the money is pay or not

Divya Saravanan
1y

It refers to an entry made in the books of accounts related to the recording of revenue or expenses paid without any exchange of cash

Pooja
1y

Accrual accounting is an accounting method where revenue or expenses are recorded when a transaction occurs vs. when payment is received or made

Anonymous
1y

Accrual concept of the accounting

Account is something the become due of amount of money that is be paid or revenue expenditure and received a the end of account period

And Revenue are reconized with ...read more

Anonymous
1y

Accrual concept of Accountings:-

Accrual is something that became due especially an amount of money that is yet to be paid or received at the end of the accounting period.

Revenues are recognized when t...read more

PAVAN KUMAR
1y

Accrual accounting is an accounting method in which payments and expenses are credited and debited when earned or incurred

K Mahesh
1y

When transactions are recording the books of accounts as they accru in the payment of money particular product or service has not been received an mobe this is accrual accounting

lavanya amaraneni
1y

Accounting is the concept of recording revenues and expenses as incurred and also impact the Balance sheet, receivables or payables may be recorded associated cash receipt or cash payments.

Helpful

Anonymous
1y

Accounting is the concept of recording revenues and expenses as incurred and also impact the Balance sheet, receivables or payables may be recorded associated cash receipt or cash payments.

RUPA RANI P
1y

The accrual concept of accounting is a fundamental principle in financial accounting that guides the recognition and recording of revenues and expenses. According to this concept, transactions are rec...read more

Anonymous
1y

When transaction are recorded in the books of accounts as they accur even if the payment for that particular product or services has not been received or made, it is known as accrual based Accounting.

Gogul Srinaath. A
1y

Accounting is the concept of recording revenues and expenses as incurred. Also impact the balance sheet, receivables or payables may be recorded associated cash receipt or cash payments.

Suja. M
1y

Accrual concept of Accountings:-

Accrual is something that became due especially an amount of money that is yet to be paid or received at the end of the accounting period.

Revenues are recognized when t...read more

Chaithrashree CC Chaithra
1y

Accrual means it's an expenses recorded on the book before paid.

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