What is a deffered revenue & deffered expenses ?
what is a means of accured revenue & accured expenses?
before & after
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Answer / gunjan thakur
Revenue that is considered a liability until it becomes
relevant to the business at hand, such as a payment
received for work that has not yet been performed. opposite
of deferred charge.&....Expenses (such as wages, salaries,
and utility charges) which are incurred but for which no
payment is made during an accounting period. They are shown
in the balance sheet as a current (short term) liability.
Also called accrued liabilities.
| Is This Answer Correct ? | 9 Yes | 1 No |
Answer / srinivas
deffered revenue and expenditure is the one whose benefit will
last long for more than an year & which shall be amortized to
p&l A/c to the extent in which the benefit is taken from that
expenditure for a particular period. Accrued revenue &
expenditure means the income or expenditure is already earned
or incurred in the particular accounting period but the effect
on cash or bank balance is not affected but it appears in the
balance sheet as an asset or liability as the case may be.
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