accruals Sentence Examples
- The company's financial statements included significant accruals for expenses incurred but not yet paid.
- Accruals represent a liability that has been incurred but not yet recognized on the balance sheet.
- Proper accounting requires accurate recording of accruals to ensure a true and fair financial picture.
- Accruals arise when revenues are earned and expenses are incurred but the corresponding cash flows have not yet occurred.
- Accountants use accruals to allocate costs and revenues to the correct accounting periods.
- Matching accruals closely with the related transactions is essential for reliable financial reporting.
- Accruals can be categorized into different types, such as accrued payroll, accrued interest, and accrued taxes.
- Adequate reserves should be maintained for accruals to cover potential liabilities and uncertainties.
- Failure to record necessary accruals can result in overstated profits and understated expenses.
- Auditing accruals is crucial for assessing the accuracy and completeness of financial statements.
accruals Meaning
accruals
something that accrues, relating to or being a method of accounting that recognizes income when earned and expenses when incurred regardless of when cash is received or disbursed (see disburse sense 1a) compare cash entry 2, an amount of money that periodically accumulates for a specific purpose (as payment of taxes or interest), the action or process of accruing, something that accrues or has accrued, the action or process of accruing something, something that has accrued during a specified period
Synonyms & Antonyms of accruals
Synonyms:
- assemblages
- spikes
- accessions
- appendices
- jumps
- extensions
- upturns
- appendixes
- uptrends
- complements
- continuations
- collections
- gatherings
Antonyms:
No weak antonyms found.
FAQs About the word accruals
something that accrues, relating to or being a method of accounting that recognizes income when earned and expenses when incurred regardless of when cash is rec
gains,increases, additions, boosts, addenda, plusses, upticks, step-ups, supplements,increments
reductions, falls, diminutions, decrements, decreases, depletions, deductions, losses, declines, diminishments
The company's financial statements included significant accruals for expenses incurred but not yet paid.
Accruals represent a liability that has been incurred but not yet recognized on the balance sheet.
Proper accounting requires accurate recording of accruals to ensure a true and fair financial picture.
Accruals arise when revenues are earned and expenses are incurred but the corresponding cash flows have not yet occurred.
