what is accrual concept?
- 7 Answers
- 13691 Views
- Capital IQ, Genpact, TCS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / chandu
cost Recognized and when the incurred and not when paid or
received.
| Is This Answer Correct ? | 27 Yes | 6 No |
Answer / nitesh
the revenues and expenses are recognized when they are
earned or incurred and not when the actual money was
received or paid.
| Is This Answer Correct ? | 12 Yes | 0 No |
Answer / manjunath
The expenses and revenues are taken in to account when they
actually occur irrespective of payment received or paid
Eg:Expenditure A/c Debit
To Accrual/Liability A/c Credit
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sirisha
it implies the revenue is recognised in the period in which
it is earned irrespective of the fact whwther it is received
or not during the period.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / p vasudeva rao
As per accural concept expected profit can not be recorded.
Eg: Production of goods does not mean that all goods will
be sold & cash is received in time.
Where as expected loss can be recorded
Eg: Bad debt
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / raju
Accrual entry is entrt to record an unaccounted transaction
for the current month, and also this is an auto reversal
entry which needs to reversed in the first day of
subsequest month
| Is This Answer Correct ? | 4 Yes | 6 No |
Answer / poornima
it is a outstanding either in receipt / payment
| Is This Answer Correct ? | 3 Yes | 7 No |
what is the entry for provission for salary t 31march and 1st april and payment
how much deduction want while salary paid?
if we import the good from usa rs 50000 and deposite in ware house what is the entry in tally
How to create a Interest Invoices
Why did you select accounting as your profession?
What is working capital...?
5 Answers Ambuja, Capital IQ, FIS,
what is the impact of bank garantee of rs 100000 on cash flow statement which has been expired...& impact on bank reconcilation statement
how we mainatin account for a construction company or firm
What is Balance sheet?
I have purchased computer,furniture,laptop, vendors has given me retail invoice he has mentioned his vat,cst no in bill & he charge vat in bill
What is an over accrual?
WHAT IS CORE ACCOUNTING, GROUP CONSOLIDATION ? CONSOLIDATED ENTRY. COULD YOU GIVE ME AN EXAMPLE
Audit 
