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  • Meaning of Accrual and Deferral

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    Accruals refer to reporting expenses or revenues before a payment or receipt transaction occurs. Accruals allow expenses and revenues to be matched to the correct accounting period, such as accruing expenses incurred but not yet paid at the end of an accounting period. Deferrals occur when revenues are received before they are earned or expenses are paid before they are incurred.

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    Accruals refer to reporting expenses or revenues before a payment or receipt transaction occurs. Accruals allow expenses and revenues to be matched to the correct accounting period, such as accruing expenses incurred but not yet paid at the end of an accounting period. Deferrals occur when revenues are received before they are earned or expenses are paid before they are incurred.

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    11 views1 page

    Meaning of Accrual and Deferral

    Uploaded by

    goochboo
    Accruals refer to reporting expenses or revenues before a payment or receipt transaction occurs. Accruals allow expenses and revenues to be matched to the correct accounting period, such as accruing expenses incurred but not yet paid at the end of an accounting period. Deferrals occur when revenues are received before they are earned or expenses are paid before they are incurred.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    Meaning of Accrual and Deferral

    Accrual: An accrual occurs before a payment or receipt transaction. There are accruals for
    expenses and for revenues. An accrual of an expense refers to the reporting of an expense

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