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Frances Nolasco
on Nov 12, 2024

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The difference between deferred revenue and accrued revenue is that accrued revenue has been recorded and needsadjusting and deferred revenue has never been recorded.

Deferred Revenue

Income received by a company for goods or services yet to be delivered or performed; it is recorded as a liability on the balance sheet until the transaction is completed.

Accrued Revenue

Revenue that has been earned but not yet received or recorded at the end of an accounting period.

Adjusting

The process of making entries to update internal accounts for events that have transpired but are not yet recorded at the end of an accounting period.

  • Discern and clarify the different adjustment varieties, including accruals and deferrals.
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Crysmarlyn MartiezNov 17, 2024
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