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Accrual refers to the accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when cash transactions occur. This approach ensures that financial statements reflect the true financial position of a business during a specific period. Deferred payment, on the other hand, involves postponing the payment for goods or services to a later date, which can affect cash flow and financial management. Together, these concepts help businesses accurately track their financial performance and obligations.
What else can I help you with?
What is an invoice used for?
Invoice is used for demanding of Payement.
What are the general ledger postings in procure to pay cycle?
1. Material Receipt Receiving Accural Dr AP Accural Cr 2. On completion on inspection and accepting of goods Inventory Dr Receiving Accural Cr The Above given 2 entries are in PO module 3. On entering Invoice in AP AP Accural Dr Accounts Payable Cr 4. On Making payment Accounts Payable Dr Cash/Bank Cr
Is deffered tax liability your current liability?
yes
Payments of expenses that will benefit more than one accounting period are identified as?
deffered revenue expenditure
Accounting entry for deferred revenue expenditure?
P&L A/C......Dr To Deffered revenue Expendature A/C
What is an invoice used for?
Invoice is used for demanding of Payement.
What is the maximum time with a cheque has to be presented for payement?
no such limit
What are the general ledger postings in procure to pay cycle?
1. Material Receipt Receiving Accural Dr AP Accural Cr 2. On completion on inspection and accepting of goods Inventory Dr Receiving Accural Cr The Above given 2 entries are in PO module 3. On entering Invoice in AP AP Accural Dr Accounts Payable Cr 4. On Making payment Accounts Payable Dr Cash/Bank Cr
What is preliminary expenses in final accounts?
It is deffered cost
Is deffered tax liability your current liability?
yes
Who impose the ceiling in tax deffered in annuity?
IRS
What did john Lewis mean by dream deffered?
dream that is put off or unrealized
What rules are followed on a deffered adjudification?
These programs vary by county. Its impossible to say
How do you pronounce the word deffered?
The word "deferred" is pronounced as duh-furd.
Can you go to jail for non payment on new car?
Jail? No. But the car can be repossessed and major fines can be instated for non payement.
Can preliminary expenses be included in deferred revenue expenditure?
yes it is a part of deffered revenue exp
What is the meaning of deffered income?
When you have earned income but will get paid in the future rather than upon earning it.
