Accrual: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Broaden to cover items arising in prior periods.) |
imported>Doug Williamson (Layout.) |
||
| Line 1: | Line 1: | ||
1 | 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. | In a defined benefit pension scheme, the build up over time of entitlement to future benefits, resulting from additional years of pensionable service. | ||
Revision as of 09:52, 11 May 2016
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.
