What is the accrual concept?
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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.
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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 ....
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