Accruals
Accruals are adjusting entries for either accrued revenues or accrued expenses. Companies make adjusting entries for accruals to record revenues earned and expense incurred in the current accounting period that have not been recognized through daily entries.
Category: Accounting & Auditing
Previous: ← Unearned revenues
Next: Accrued revenues →
More from this Section
- Capital profits
Capital profits are those profits which are not earned during the regular course of business ... - Linear Relationship
Linear Relationship is a mathematical phrase that describes two different connections ... - Cost center
A cost center refers to a responsibility center that incurs costs (and expenses) but does ... - Public accounting
Public accounting is an area of accounting in which the accountant offers expert service ... - Classified of inventory
In a manufacturing company, some inventory may not yet be ready for sale. As a result, ...