Accruals

This topic has 1 reply, 2 voices, and was last updated 5 years ago by John Moffat.

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June 25, 2020 at 11:48 am #574662
Sourav9271
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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
June 25, 2020 at 2:59 pm #574672
John Moffat
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Accruals 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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