This essay Accrued Revenues has a total of 220 words and 2 pages.
Accrued revenues, according to AccountingCoach (2015), “are fees and interest that have been earned and sales that occurred, but they have not yet been recorded through the normal invoicing paperwork.” When accrued revenues occur and need to be recorded, they require an adjusted entry. The adjusted entry for the accrued revenue is required so that the revenue is recorded in the time period it was earned in accordance with the revenue recognition principle. If the adjusted entry did not occur for the revenue it would cause the revenue for the time period it was earned to be understated and the revenue for the time period it was received to be overstated.
An example of accrued revenue would be a doctor waiting for payment from an insurance company. In this example, the doctor provided a patient with health care service on December 28th that totaled $300. The doctor then billed the patient’s insurance on December 28th but did not receive payment for the services provided until January 10th. Since the doctor’s financial year ended on December 31st, the doctor must record the revenue on December 28th so that the revenue is recognized in the period that it was earned.
AccountingCoach. (2015). What are accrued revenues and when are they recorded?. Retrieved
Creationism Vs. EvolutionCreationism vs. Evolution In my short life on this planet I have come to question things that many take upon blind faith. We all know that we must some day die; yet we continuously deny the forces at work inside ourselves, which want to search out the answers of what may or may not come after. It is far easier for humanity to accept that they will go to a safe haven and be rewarded for their lives with pleasures and fantasies of an unfathomable scale than to question the existence of a supposed
A Detailed Research on Corruption in IndiaA Detailed Research on Corruption in India What is corruption? Corruption is a form of dishonest or unethical conduct by a person entrusted with a position of authority, often to acquire personal benefit.  Corruption may include many activities including bribery and embezzlement, though it may also involve practices that are legal in many countries.  Government, or \'political\', corruption occurs when an office-holder or other governmental employee acts in an official capacity for persona