Accrued income, also known as accrued revenue, is income that has been earned during an accounting period but has not yet been received by the end of the period. It adheres to the accruals concept and is vital for accurate financial reporting.
A current asset refers to cash, accounts receivable, inventory, and other assets that are likely to be converted into cash, sold, exchanged, or expensed in the normal course of business, usually within a year.
Describes the grounds on which a subsidiary undertaking may be excluded from the consolidated financial statements of a group because the group's interest in the subsidiary is held exclusively with a view to subsequent resale.
