Should the accruals incurred for previous year but paid this year be shown as a Expense for this year.
Or should we deduct the previous year's accruals
Ask the Tutor ACCA FA
Accruals
6y ago#1Accruals brought forward from last year are expenses of last year and are not expenses of this year.
Please watch my free lectures on accruals. The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
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