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What the difference between DUE & ACCRUAL?
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Answer / prakash jha
ACCRUAL MEANS RIGHT TO RECEIVE WHEREAS DUE MEANS RIGHT TO ENFORCE TO RECEIVE THE SAME.
FOR EXAMPLE
SALARY OF A DECEMBER MONTH IS ACCRUE ON DAILY BASIS AS WE PERFORMING OUR JOB BUT IT IS DUE ON A PARTICULAR DATE AS DECIDED BY THE MANAGEMENT MAY BE FIRST WEEK OF NEXT MONTH.
| Is This Answer Correct ? | 42 Yes | 2 No |
Answer / harsha
due means the amount yet to be paid for the goods
purchased or service rendered.
Gradually this all are supported by invoces or any other
documents. Accrauls are short term liabilities(such as
interest,tax,utility charges,but not supported by invoice
or a written demand for Payment.while preparing finacial
statement for that accounting period,such liabities are are
estimated on the basis of experience(based on previous
payments)similarly increase in asset of the firm which may
coninaully occur is not taken in to account in order to
comply with accrual basis accounting rule
| Is This Answer Correct ? | 11 Yes | 6 No |
Answer / sourab kumar
ACCRUED basically means belonging to the period. An accrued expense means that expense meant to that period however it may not be supported by any voucher , document or invoice.
While Due Exp. Means exp becoming claimable or say supported by by any document.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / suresh
Jo paisa hame future me dena hai that is due
but jo paisa hame cheque ke jariye dekar material purchase
kar liya, jab tak cheque clear nahi hota tab tak o accrual
hai
| Is This Answer Correct ? | 9 Yes | 12 No |
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