Question

what is accrual concept of accouting

Answer 1

heya mate ur answer is...

Q. What is accrual concept of accouting?
Ans. Under accrual concept of accounting income is recorded as income when it is earned or accrued.Both cash and credit transactions are recorded. The accrual concept of accounting requires technical knowledge as many adjustments like prepaid, outstanding, capital, and revenue are required to be made .Accrual basis of accounting is recognised by the Companies Act,2013
and it is more acceptable in business as it reveals correct income and expenses besides assets and liabilities.


hope it helps..

Answer 2

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$\bold{hello...frd\:swigy\:here}$

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$\bold\red{Accrual\:Accounting}$

Definition: Accounting method that records revenues and expenses when they are incurred, regardless of when cash is exchanged. The term "accrual" refers to any individual entry recording revenue or expense in the absence of a cash transaction.

I hope, this will help you

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