Accrual: Difference between revisions
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imported>Doug Williamson No edit summary |
imported>Doug Williamson (Broaden to cover items arising in prior periods.) |
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1. ''Accounting.'' | 1. ''Accounting.'' | ||
An amount owing - but not yet invoiced - for services or goods received | An amount owing - but not yet invoiced - for services or goods received 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. | ||
Revision as of 07:14, 6 November 2015
1. Accounting. An amount owing - but not yet invoiced - for services or goods received 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.
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.
