Accountancy, asked by vismeetkaur22, 1 year ago

What is the accrual concept?

Answers

Answered by RDEEP90
9

mark krdo please

Accrual of something is, in finance, the adding together of interest or different investments over a period of time. It holds specific meanings in accounting, where it can refer to accounts on a balance sheet that represent liabilities and non-cash-based assets used in accrual-based accounting.


RDEEP90: hi mark me
vismeetkaur22: You just copied it from the internet. Her explanation was more friendly and that helped me more so
vismeetkaur22: But well thanks for answering anyways
RDEEP90: bus kr
RDEEP90: i dont know much English
vismeetkaur22: It's fine! Not a big deal :/
RDEEP90: what is this
RDEEP90: can u translate in Punjabi or Hindi
vismeetkaur22: Kuch nahi hota. Koi badi baat nahi hai ‍♀️
RDEEP90: ok ji
Answered by malvika10000
9

accrual concept is an assumption in accountancy

according to this assumption a transaction is recorded in the books of accounts at the time when it is entered into and not when settlement takes place whether cash is receivable or payable ....

hope my ans . helps u, ☺️


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