Accounting: Difference between revisions

612 bytes removed ,  31 March 2014
→‎Accounting class week 11: rm duplicate definition of w:accrual
(→‎Accounting class week 11: rm duplicate definition of w:accrual)
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* [[w:VAT]] vs. [[w:sales tax]] ( not the same thing )
* [[w:VAT]] vs. [[w:sales tax]] ( not the same thing )


* '''[[w:Accrual]]'''
 
:::'''Accrual''' (''accumulation'') of something is, in [[w:finance]], the adding together of [[w:interest]] or different [[w:investments]] over a period of time. It holds specific meanings in [[w:accounting]], where it can refer to accounts on a [[w:balance sheet]] that represent liabilities and non-cash-based assets used in accrual-based accounting. These types of accounts include, among others, [[w:accounts payable]], [[w:accounts receivable]], [[w:Goodwill (accounting)|goodwill]], [[w:deferred tax]] [[w:liability (accounting)|liability]] and future interest expense. ( Wikipedia )