Accrual concept,
Definition of Accrual concept:
The basic concept of accounting recognizes the difference between sales and purchases on the one hand and cash deposits and payments on the other. This is an important part of accounting principles and allows for significant comparisons based on actual business operations, without delaying payment. According to this principle, sales and expenses are accounted for during the accounting period, which includes their expenses (and is included in the income statement for that period), regardless of whether the money is received or paid. This is also called regular rule. Also look at the concept of accounting.
Meaning of Accrual concept & Accrual concept Definition
