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Holly
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Posted: 28 Feb 2009 at 16:34 \| IP Logged

accrued assets are revenue earned by not yet due

Does this sound right?

Romain
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Posted: 28 Feb 2009 at 21:23 \| IP Logged

Partly, but bear in mind that it is incorrect to say "earned" as in Government Accounting revenue is not earned as the government does not sell goods/services in expectation of revenue. Essentially, it is correct to say "Available and Measurable" (not earned), that is what they expect to collect for taxes levied on property, real estate, income, sales and from other governmental bodies. These, the government expect to collect for the current year and within the first 2 months of the subsequent year.

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Holly
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Posted: 01 Mar 2009 at 08:35 \| IP Logged

Thank you :)

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