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cRYPTO Glossary
Explore essential terms and concepts in the world of cryptocurrency, blockchain, and trading
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Accrued Income
Accrued income is a type of income that has been earned but is yet to be received, in accordance with the accrual method of accounting.
Explanation of Specific Terms:
- Income: Money earned from investments, sales, or other sources.
- Earned: The income has been generated or accrued.
- Yet to be received: The income is due but has not been physically received as cash or its equivalent.
- Accrual method of accounting: A method where income and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.
Key Points for Beginners:
- Why it's important: Accrued income reflects the economic reality of earning income even if cash has not yet been received, providing a more accurate financial picture.
- How it works: For example, if a company provides a service but has not yet invoiced the client, the income from that service is accrued until the invoice is issued and payment received.
Valdis Zhvaginsh
Crypto Enthusiast, CWT Editor
Hello, I'm Valdis
When I began exploring cryptocurrencies, I had many questions. Over time, I've gathered some of the best resources that helped me, and I believe they can be useful to you as well.
I hope these resources assist you in starting your journey into the world of cryptocurrencies and provide useful tools for everyday tasks.
If you have any suggestions or corrections, please contact me
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