Jun 1 2015, 11:04 AM
QUOTE(kancs3118 @ May 31 2015, 06:58 PM)
Hi guys, i came across this term
"Accrued billings"
When reading the quarterly reports of a property developer, Global Oriental Berhad in the current assets section.
Just asking, what is the meaning of "accrued billings" used in the context of a property developer? What gives rise to "accrued billings"?
I find it weird because property developers cannot recognise unbilled sales in its financial statements but rather to recognise sales per the percentage of completion and this matched against its property development costs in its P&L.
Thanks in advance for the help.
Acrrued in accounting means something already happened, but actual full bill not yet coming."Accrued billings"
When reading the quarterly reports of a property developer, Global Oriental Berhad in the current assets section.
Just asking, what is the meaning of "accrued billings" used in the context of a property developer? What gives rise to "accrued billings"?
I find it weird because property developers cannot recognise unbilled sales in its financial statements but rather to recognise sales per the percentage of completion and this matched against its property development costs in its P&L.
Thanks in advance for the help.
Eg.
Your electricity bill date is 15th, and while your account date is 31st.
On 31st, you have still not yet receive the bill, but you can't take 15th bill as final, as there is still 16days of usage/bill amount needs to be accounted for in order to reflect the actual situation on 31st,
so that's where the accrued column slot in.
I don't know about the mentioned specific company account issue, but accrued generally about the dating issue of the bill.
Quote
0.0139sec
0.60
6 queries
GZIP Disabled