Are T-Mobile phones good?
What businesses use cash based accounting?
What is "accrual"?
What is accrual-based accounting?
What is an accruals concept?
What is the definition of accrual accounting?
What should I know if I'm a salaried employee, and I need time off?
An accrual is an expense that you have not paid for yet, but have received the goods and services for as of year end. A prepayment is the opposite.
At year end these represent balance sheet items. Accruals are expenses not yet paid, and prepayments are payments made that have not yet been expensed.
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