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Accrual base accounts

This query is : Resolved 
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(Querist)
09 January 2016 Let me know these accounts situations deeply.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
01 February 2016 Accounting Standard 1, explain accrual concept, for Simple example interest on FD recognised every end of financial year, even though interest received on maturity, rent, salary, Exps for March which may pay in April month but for booking we have to consider For March. Expenses & income should be booked as and when accrued rather than incurred or received.
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