Examples of accrue in the following topics:
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- Accrued and deferred expenses represent the two possibilities that can occur due to timing differences under the matching principle.
- Accrued expenses and deferred expenses are two examples of mismatches between when expenses are recognized under the matching principle and when those expenses are actually paid.
- An accrued expense is a liability that represents an expense that has been recognized but not yet paid.
- Accrued and deferred expenses are both listed on a company's balance sheet.
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- The term accrual is also often used as an abbreviation for the terms accrued expense and accrued revenue.
- Accrued revenue (or accrued assets) is an asset, such as unpaid proceeds from a delivery of goods or services, when such income is earned and a related revenue item is recognized, while cash is to be received in a later period, when the amount is deducted from accrued revenues.
- An example of an accrued expense is a pending obligation to pay for goods or services received from a counterpart, while cash is to be paid out in a latter accounting period when the amount is deducted from accrued expenses.
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- In accounting, notes receivables are accounts to keep track of accrued assets that have been earned but not yet received.
- In accounting, notes receivables are accounts to keep track of accrued assets that have been earned but not yet received.
- Accrued assets are assets, such as interest receivable or accounts receivable, that have not been recorded by the end of an accounting period.
- We also call these adjustments 'accrued revenues' because the revenues must be recorded.
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- Accrued expense allows matching future costs of products to the proceeds from their sales prior to paying out such costs.
- Accrued expenses are a liability with an uncertain timing or amount; the uncertainty is not significant enough to qualify it as a provision.
- One example would be an obligation to pay for goods or services received from a counterpart, while the cash is paid out in a later accounting period—when its amount is deducted from accrued expenses.
- Accrued expenses shares characteristics with deferred revenue.
- Deferred expenses share characteristics with accrued revenue.
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- Accrued revenue (or accrued assets) is an asset such as proceeds from a delivery of goods or services, at which such income item is earned and the related revenue item is recognized, while cash for them is to be received in a latter accounting period.
- At that point its amount is deducted from accrued revenues.
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- If the gain is probable and quantifiable, the gain is not accrued for financial reporting purposes, but it can be disclosed in the notes to financial statements.
- Thus, for a gain contingency, only a realized gain is accrued for and disclosed on the income statement.
- However these gains should only be accrued when the gain is realized.
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- An impairment loss is recognized and accrued through a journal entry to record and reevaluate the asset's value.
- An impairment loss is recognized and accrued to record the asset's revaluation.
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- Valley must make an adjusting entry on December 31 to accrue interest for November and December.
- Each year Valley would make similar entries for the semiannual payments and the year-end accrued interest.
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- Accruals - accrued revenues are revenues that have been recognized (that is, services have been performed or goods have been delivered), but their cash payment have not yet been recorded or received.
- Accrued expenses have not yet been paid for, so they are recorded in a payable account.
- Expenses for interest, taxes, rent, and salaries are commonly accrued for reporting purposes.
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- Most often, the entries reverse accrued revenues or expenses for the previous period.