Question

What is accrued income

Answer 1

Accrued income is that income which has been earned but not yet received.

Answer 2

Accrued income is earned but has yet to be received. Mutual funds or other pooled assets that accumulate income over a period of time but only pay out to shareholders once a year are by definition accruing their income. Individual companies can also accrue income without actually receiving it, which is the basis of the accrual accounting system.