Meaning of the word accrual in English
What does accrual mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
accrual
US /əˈkruː.əl/
UK /əˈkruː.əl/
Noun
1.
the accumulation or increase of something over time, especially payments or benefits
Example:
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The accrual of interest on the savings account was significant.
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Vacation time accrual is a common benefit in many companies.
2.
in accounting, the recognition of revenues and expenses when they are earned or incurred, regardless of when cash is exchanged
Example:
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The company uses the accrual method of accounting.
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Understanding accrual accounting is crucial for financial reporting.