Due and Accrue

This query is : Resolved

Share Report Follow Query Ask a Query

Rahul

Rahul (Querist)
Follow

13 February 2010 What is the difference between Due and Accrue

CA. Amit Daga

CA. Amit Daga (Expert)
Follow

14 February 2010 due mean pending from long time and accrue mean those things mean .. now we need to pay

CA SURENDRA KUMAR RAKHECHA

CA SURENDRA KUMAR RAKHECHA (Expert)
Follow

14 February 2010 To understand the difference between the two, please refer :

1. Accrued But Not Due

When you put one FDR into bank for one year on 31 01 2010; then interest accrues for 2 months for the financial year ending on 31 03 2010. But interest does not become due because right now you cann't claim from the bank. It will be due only on maturity.

2. Accrued & Due

When you can claim the maturity value.

MORAL :

WITHOUT ACCRUING; NOTHING IS DUE.

DEEPIKA GOEL

DEEPIKA GOEL (Expert)
Follow

14 February 2010 I would like to explain it with example, it might be helpful for you to understand difference between due and accrue.

At the year end or beginning, generally this problem came with us.

Telephone bills

calls made by us till 31st march ..... has accured but we have nt recd the bill for that. Bill for month of march will be received in the month of april and also some due date is dere to pay.

so vl be classified as accured but not due

FDRs

In case of FDRs, maturity amount will be recd on maturity date (i.e. due date) but interest on principal amount of FDRs accrued day by day.

I think frm above two example it would be more clear to u

CMA Arif Farooqui

CMA Arif Farooqui (Expert)
Follow

20 February 2010 agree with deepika

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

kavita goel

avulaandcopdrl 2023

divakar podaturu

Ashok Atluri

CA Reshma prabhu

Subscribe Now

Due and Accrue

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA