Accrued income: Learn what accrued income is and

Learn what accrued income is and how to record it in the accounting period in which it is earned. See an example of interest income accrual and a quiz to test your knowledge. Learn what accrued income is, its accounting treatment, journal entries, and examples. Understand its importance in financial reporting with real-world scenarios Accrued Income Also known as outstanding income , accrued income is the income which has been earned during a particular accounting period, however, the related funds have not been received until the end of that accounting period. So, it grows by addition and remains due to be received in the forthcoming accounting periods. Examples include accrued interest on investment, accrued rent to be collected, commission earned but not received, etc. Accrued income is recorded in the books at the end ... Learn how to record accrued income , which is income earned but not received in a particular accounting period, with examples and journal entries. Find out how to treat accrued income in financial statements and books of finance.