accruals Definition
the accumulation or increase of something over time, especially payments or benefits.
Using accruals: Examples
Take a moment to familiarize yourself with how "accruals" can be used in various situations through the following examples!
Example
The company's accruals for employee benefits increased this year.
Example
Accruals for interest on the loan will be added to the principal amount.
Example
The accruals for vacation time are calculated based on the number of hours worked.
accruals Synonyms and Antonyms
Synonyms for accruals
- accumulation
- buildup
- accrued revenue/expenses
Phrases with accruals
an accounting method that records revenues and expenses when they are earned or incurred, regardless of when payment is received or made
Example
The company uses accrual accounting to accurately reflect its financial position.
a method of accounting that recognizes revenue and expenses when they are earned or incurred, regardless of when payment is received or made
Example
The company reports its financial results on an accrual basis.
Example
The accrual rate for vacation time is based on the number of hours worked.
Summary: accruals in Brief
'Accruals' [əˈkruəlz] refer to the accumulation or increase of something over time, especially payments or benefits. Examples include accruals for employee benefits, interest on loans, and vacation time. 'Accrual accounting' and 'accrual basis' are related terms used in accounting to recognize revenue and expenses when they are earned or incurred, regardless of when payment is received or made.
