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Accrued costs are costs for services or materials received, but for which payment has not been made. Example - you order 1600 cubic yards of concrete. It is delivered to your site in 16 weekly increments of 100 cubic yards. You receive a bill at the end of the 16 weeks. The accrued cost reflects the cost of concrete delivered in a reporting period prior to receiving the bill. This is money that should be set aside (and costs to balance against earned value for the material).
Deferred cost are for services or materials not yetreceived, but for which payment has been made. Example - you purchase a plane ticket 6 weeks before a planned trip. The cost is incurred, but reporting may be deferred until the trip is made and value is earned.
What else can I help you with?
Why is deferred cost treated as asset?
Deferred cost has similar treatment to prepayment.
What difference between cost and costing?
difference between cost and costing
What is the difference between cost and list price?
whats the difference between cost and list?
What is deferred cost?
A cost that you do not have to pay until a certain date.
Is a deferred loan cost an intangible assets?
YES
Why is deferred cost treated as asset?
Deferred cost has similar treatment to prepayment.
What difference between cost and costing?
difference between cost and costing
What is the difference between cost and list price?
whats the difference between cost and list?
What is the difference between differential cost and incremental cost?
There is no difference
What is deferred cost?
A cost that you do not have to pay until a certain date.
Difference between real cost and money cost in about 300 words?
what is the difference?
Is a deferred loan cost an intangible assets?
YES
Does adjusted cost basis include accrued interest paid?
Adjusted cost basis typically does not include accrued interest paid. The cost basis generally reflects the purchase price of an asset plus any associated costs related to acquiring it, like commissions or fees. Accrued interest, on the other hand, is considered a separate expense related to the debt and is not part of the asset's cost basis. Therefore, when calculating adjusted cost basis for tax purposes, accrued interest is usually excluded.
What is the difference between prime cost and variable cost?
lina
What is the difference between price and average cost?
marginal cost
The difference between revenue from sales and cost of goods sold?
Difference between revenue from sales and cost of goods sold is called "Gross profit".
What is the difference between unbilled receivables and cost in excess of billings?
Unbilled receivables represent costs in excess of billings on incomplete contracts and, where applicable, accrued profit related to government long-term contracts on which revenue has been recognized, but for which the customer has not yet been billed.
