Interested to Buy Any Domain ? << Click Here >> for more details...
what is accrued expense
- 4 Answers
- 8298 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / bhargav selarka
indian accounting records expenses based on accrual
system.expenses are recorded when they become due rather
than when they are actually paid..therefore the term
accrued tax refers to an expense becoming due but not yet
paid.it should be disclosed as a current liabality
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / sumit
An accounting expense recognized in the books before it is paid for. It is a liability, and is usually current. These expenses are typically periodic and documented on a company's balance sheet due to the high probability that they will be collected.
| Is This Answer Correct ? | 4 Yes | 3 No |
Answer / h.r. sreepada bhagi
Expenses which relate an accounting period but paid in a
subsequent year are accrued ecpenses. Accrued expense need
not be due for payment.
These expenses will be debited to the Profit & Loss A/c of
the year to which they relate and shown on the liabilities
side of the Balance under Current Liabilities & Provisions
(In horizontal Balance Sheet). In vertical Balance Sheet
format, Current Liabilities & Provisions are deducted from
Current Assets and Net Current Assets is shown.
| Is This Answer Correct ? | 1 Yes | 0 No |
How to pass advance entry in tally, and how it should adjust against future invoice.?
Tell me as a higher position in the accounting department, you will be responsible for overseeing other employees' accounts. What experience do you have in leadership and management that will prepare you for this responsibility?
Do you know what is balance sheet?
What is accounting & why it is used?
What is the differance between Captial & revanue?
what is SEC?
As you know excellent communication skills are at the core of this position. Do you have experience with interpersonal communication in a professional setting?
what are the steps for the payment cycle of the firm or company?
consultancy charges receivable Rs 30000 from abc & co. tds receivable 3000
How can I pass the journal entry for Work in progress. I would like to know that where should be the debit and credit allocated in accounting system. eg. WIP debit will be under asset a/c in balance sheet what about credit? pls.help me
using examples, examine the relevance of the following as final accouting adjustments; 1.reserves 2.provisions 3.disposal of assets 4.control accounts
The number of production or similar units expected to be obtained from the use of an asset by an enterprise is called as _________ (a) Unit life (b) Useful life (c) Production life (d) Expected life
Audit 
