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Tag: accruals concept

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the accruals concept
accounting / Bookkeeping

What is the Accruals Concept?

The accruals concept is one of most important accounting concepts to understand. It forms a crucial role in ensuring the accuracy of the financial statements. Accruals can often confuse those …

a journal entry for accruals
accounting / Bookkeeping

Journal Entries for Accruals

As discussed in our previous post, the journal entries required for accruals are quite simple. The purpose of an accrual is to recognize an expense before the invoice has been …

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