20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for December 2024 exams.
Get your discount code >>

accruals and payables

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

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
July 30, 2022 at 4:57 pm #662179
richieakins15
Participant
- Topics: 10
- Replies: 46
Please is there a difference between accruals and payables? And if there is, how do I know the difference.
July 31, 2022 at 8:42 am #662212
John Moffat
Keymaster
- Topics: 57
- Replies: 54478
Although they are both shown as current liabilities, payables are where we have received an invoice but have not yet paid it. Accruals are where we have not yet received an invoice but know that we do owe money.
Have you watched my lectures on accruals?
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.