Accrued Revenue
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Adjustments at the Balance Date and Preparation of Sole Proprietorship Financial Statements
MS: Hasil Terakru · EN: Accrued Revenue · ZH: 应计收入
Meaning
Accrued revenue is revenue that has been earned during the accounting period but has not yet been received in cash by the balance date. It is added to the relevant revenue in the Income Statement and reported as a current asset in the Statement of Financial Position. This adjustment follows the accrual basis.
Example
Cerdik Tuition Centre rents out a room and should receive RM500 rent for December, but the tenant has not paid by 31 December. Entry: Debit Accrued Rent Receivable RM500, Credit Rent Revenue RM500.
Source: DSKP KSSM Prinsip Perakaunan Tingkatan 4