Accrued Income

  • 3 Posts
  • 1 Sections
  • 1 Types
Definitions
Accrued Income (Accrued Revenue)
Accrued Income Accrued Revenue Accruals Concept Accounting Period Current Asset Financial Reporting Prudence Concept Profit Figure
Accrued income, also known as accrued revenue, is income that has been earned during an accounting period but has not yet been received by the end of the period. It adheres to the accruals concept and is vital for accurate financial reporting.
Read more about Accrued Income (Accrued Revenue).
Definitions
Accrued Interest
Accrued Interest Accrued Income Financial Statements Interest Receivable Accounting Income Recognition Accrual Accounting
Accrued interest or accrued income refers to interest or other income that has been earned but not yet received by the entity. It accumulates periodically and is recorded in the financial statements as interest receivable or accrued income.
Read more about Accrued Interest.
Definitions
Unearned Discount
Unearned Discount Lending Institution Interest Loan Financial Accounting Accrued Income Revenue Recognition Amortization
An unearned discount is an account on the books of a lending institution that recognizes interest deducted in advance from a loan. This interest will be taken into income as earned over the life of the loan.
Read more about Unearned Discount.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.