Difference between revisions of "Accrual"
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== Definition == | == Definition == | ||
| − | '''Accrual'''. The process of accumulating interest or other income that has been earned but not paid | + | '''Accrual'''. The process of accumulating interest or other income that has been earned but not paid. An expense for profit purposes even though no payment has been made. The term is used in the context of [[Accrual Accounting]]. |
| + | == Notes == | ||
There are legal contractual terms for the accrual of interest, as distinct from the payment of interest. | There are legal contractual terms for the accrual of interest, as distinct from the payment of interest. | ||
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[[Category:Debt]] | [[Category:Debt]] | ||
| + | [[Category:Accounting]] | ||
{{#set: isDefinedBy | https://spec.edmcouncil.org/fibo/ontology/FBC/DebtAndEquities/Debt/index-en.html }} | {{#set: isDefinedBy | https://spec.edmcouncil.org/fibo/ontology/FBC/DebtAndEquities/Debt/index-en.html }} | ||
__SHOWFACTBOX__ | __SHOWFACTBOX__ | ||
Latest revision as of 16:04, 16 September 2021
Contents
Definition
Accrual. The process of accumulating interest or other income that has been earned but not paid. An expense for profit purposes even though no payment has been made. The term is used in the context of Accrual Accounting.
Notes
There are legal contractual terms for the accrual of interest, as distinct from the payment of interest.
See Also
- Barron's Dictionary of Business and Economics Terms, Fifth Edition, 2012
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
