Accrual: Difference between revisions
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* [[Accruals basis]] | * [[Accruals basis]] | ||
* [[Bookkeeping]] | * [[Bookkeeping]] | ||
* [[CertICM]] | |||
* [[Deferred income]] | * [[Deferred income]] | ||
* [[Defined benefit pension scheme]] | * [[Defined benefit pension scheme]] | ||
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* [[Prepayments]] | * [[Prepayments]] | ||
* [[Provision]] | * [[Provision]] | ||
[[Category:Manage_risks]] | [[Category:Manage_risks]] | ||
Revision as of 12:58, 4 August 2019
1. Accounting.
An amount owing - but not yet invoiced - for:
- Services or goods received before the end of the accounting period; or
- Other economic benefits enjoyed before the end of the accounting period.
An accrual is a form of liability, because it represents cash that will have to be paid out in the future, for a benefit that has already been received.
Accruals may include estimates about the amounts of final future payments, or their likelihood, or both.
2. Pensions.
In a defined benefit pension scheme, the build up over time of entitlement to future benefits, resulting from additional years of pensionable service.
