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Accrued Revenue


Definition: Accrued Revenue is an asset. It is recorded as a "Current Asset" in the Assets side of the balance sheet because it will give benefit in the near future when the company will receive cash in the near future. Moreover, it is recognized as an "Account Receivable" after the customer is billed by the company for the delivered goods or services until the bill is paid.
Deferred Revenue is a liability. It is recorded as a "Current Liability" in the Liabilities side of the balance sheet.


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More on accounting and auditing: Accounting Cycle, Accounts Payable, Accounts Receivable, Amortization, Appreciation, more on accounting and auditing...

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