Start networking and exchanging professional insights

Register now or log in to join your professional community.

Husnain Arshad
by Husnain Arshad , Assistant Manager , Ozkartallar Campak Joint Venture

It's very simple, according to accrual concept, the revenue is recognized when earned and expenses are recognized when incurred irrespective of weather cash is received or paid in that accounting period.

Shekar Srinivasan
by Shekar Srinivasan , Consultant - Accounts, Finance & Compliance , Five Senses Tours Private Ltd

Acccrual method of accounting is recording income and expenditure when they are accrued irrespective of actual receipts or payments.

Michael Lagunday
by Michael Lagunday , Accounts Assistant , Invest Group Overseas LLC

Accrual accounting is recording income when goods have been delivered or service rendered regardless of when cash is collected and recording expenses when incurred regardless of when it is paid. 

Abdul razak Alimiya Mukadam
by Abdul razak Alimiya Mukadam , Asst Business Development Manager & Chief Accountant Real Estate Property & Construction Division , SHANFARI AND PARTNERS CO LLC. SALALAH OMAN

Accrual accounting is recording When  expenses is  incurred  for  any  services  &  where  as  income  side  income when goods have been delivered or service rendered  accrual  a/c  is take  place.   regardless of when cash is collected and recording expenses when incurred regardless of when it is paid.  

Tamer Hassan
by Tamer Hassan , Senior accountant , Egyptian company for trading & agencies

the accrual method is the method where the financial statements are prepared under it recognize revenues and expenses when it occur rather than when their associated cash is received or paid.

Amit Raithattha
by Amit Raithattha , Financial Controller , Al Sharq Al Aqssa Trading Co LLC

Accrual method is a method in which expenses or income booked when it accrued and it can be paid or received later. Major accounting system is based on accrual and hardly some one follows Cash Method.

More Questions Like This