Expert Certification Course

Accrual Accounting

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Accrual Accounting

Best For 
  • Managers
  • Students
  • Engineers

Course Description

Course Description

In financial accounting or Accrual Accounting, accruals refer to the recording of revenues that a company has earned but has yet to receive payment for, and the expenses that have been incurred but that the company has yet to pay. In simple terms, it is the accounting adjustment of accumulated debits and credits. Such accounting practices, therefore, have a general impact on the handling of the income statement and the balance sheet. The affected accounts include accounts payable, liabilities and non-cash-based assets, goodwill, future tax liabilities, and future interest expenses, among others. At the end of the course you will be able to define accrual accounting and how it is used to record business transaction. Explain what an accrual is and illustrate how it works.Compare how cash basis accounting differs from accrual accounting. Explain how you affect the accrual process. Discuss the importance of accrual accounting for financial reporting purposes.

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