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What is the difference between an accrual and a deferral?

For example, if you have a deferred revenue liability for a 6-month project on your balance sheet, you’d adjust it monthly to move a portion (1/6th each month) from deferred revenue to earned revenue. The other difference between the two is whether the income or expense is recognized as an asset or a liability. The […]

DC Business Books A Mess? Top Rated® Master Bookkeeping Help

Content JDL Financial New Deductions for Businesses Under the New Tax Act–-Could Yours Qualify? An Easy Guide to College Tax Deductions Wendroff & Associates, CPA Ranked as Best Accountants Zitro Services LLC Related Services Accounting company Murray & Cavanaugh, P.C., CPAs is headquartered in Arlington, Virginia. Find relief from the IRS with our tax resolution […]

What is the difference between an accrual and a deferral?

For example, if you have a deferred revenue liability for a 6-month project on your balance sheet, you’d adjust it monthly to move a portion (1/6th each month) from deferred revenue to earned revenue. The other difference between the two is whether the income or expense is recognized as an asset or a liability. The […]

DC Business Books A Mess? Top Rated® Master Bookkeeping Help

Content JDL Financial New Deductions for Businesses Under the New Tax Act–-Could Yours Qualify? An Easy Guide to College Tax Deductions Wendroff & Associates, CPA Ranked as Best Accountants Zitro Services LLC Related Services Accounting company Murray & Cavanaugh, P.C., CPAs is headquartered in Arlington, Virginia. Find relief from the IRS with our tax resolution […]