Ask Experts Questions for FREE Help !
Ask
    problemos's Avatar
    problemos Posts: 2, Reputation: 1
    New Member
     
    #1

    Jul 21, 2012, 07:49 PM
    What is the difference between accruals and deferrals?
    Definition please.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
    Ultra Member
     
    #2

    Jul 22, 2012, 12:04 AM
    An accrual refers to expenses not yet paid which are brought to account at balance date.

    A deferral refers to expenditure which has been delayed to a subsequent period. It may give rise to an accrual or it may not depending upon the contractural obligations

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Accruals & Deferrals [ 12 Answers ]

What is the journal entry for Prepaid expense?

Accruals and deferrals [ 1 Answers ]

I don't have a specific problem but I can't seem to get the meaning of these terms. Sometimes it helps to have someone else explain them. So far I have deferred expense--Initially, we (the business) paid for it but didn't use it yet (prepaid insurance) which is why we need an adjusting entry if...

Accrual and Deferrals [ 1 Answers ]

I'm working on ACCRUALS and DEFERRALS I have read the chapter and don't understand how to record the entry. 1. How can I identify which entries can be reversed 2. I don't understand problem Question to be worked This is not a homework problem just study problem XX Company fiscal years...

Tax Deferrals [ 10 Answers ]

I had an unexpected 401K distribution with no withholding that will wreck tax year 2006. Can this disbursement be postponed and taken in 2007? Thanks Jim

W2 Elective Deferrals? [ 3 Answers ]

Hi ATE! I am an Indian Citizen. I was on F1 visa from August 2002 - October, 2005 (on OPT from December 2004 - October, 2005) On H1B from October 1st, 2005 - Current. I do not meet the substantial presence test. As I understand from the previous threads, I should fill 1040 NR? And can Claim...


View more questions Search