Question

What is accrual concept

Answer 1

The accrual concept in accounting means that expenses and revenues are recorded in the period they occur, whether or not cash is involved. The benefit of the accrual approach is that financial statements reflect all the expenses associated with the reported revenues for an accounting period.

Answer 2

Hey mate.....

The accrual concept in accounting means that expenses and revenues are recorded in the period they occur, whether or not cash is involved. The benefit of the accrualapproach is that financial statements reflect all the expenses associated with the reported revenues for an accounting period.


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