what is the difference between accrual and realization concept in accounting

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14-10-2020
Business

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what is the difference between accrual and realization concept in accounting

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BralnIac BralnIac · Answer 1 · 2020-10-14T07:53:16+02:00

BralnIac BralnIac

14-10-2020

Accrual:- in layman terms, accrual is an ongoing process. For example if you are in an auto, the fare keeps on accruing as we travel

Realization:- in layman terms realization is the receiving of the money that had accrued. For example, when you pay the auto fare, that is realization

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what is the difference between accrual and realization concept in accounting​

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what is the difference between accrual and realization concept in accounting