Difference between accrued income and accrued expenses
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Accrued incomes are revenues that are earned in one accounting period, but cash is not received until another accounting period. Accrued expenses are expenses that have been incurred in one accounting period but won't be paid until another accounting period.
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Accrued income = The Income which is due but not received.
Ye aaisii Income hai jo milni chahiye but abhi tak mili hai hai!
Ye hum Firm ki Books me Record karte hai!
Accrual Basis of Accounting me...
Accrued expenses = The Accrued Expenses or Outstanding Expenses is the amount of expense which is due but not paid.
Ye aaisii Kharche hai Jo Ho chuki hai but uski payment humne abhi tak nhi ki hai!
Ye v Record kia jaata hai Books of Accounts me.
Accrual basis of Accounting.
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