Income that has been earned but not yet received. For instance, if you have a non-registered Guaranteed Investment Certificate (GIC), Mutual Fund or Segregated Equity Fund, growth accrues annually or semi-annually and is taxable annually even though the gain is only paid at maturity of your investment.
Income that is due but not received at the date of the financial statement.
Earned income that has not yet been received; for example mutual fund gains that accumulate and are taxed annually but are paid only at maturity.
(1) In accounting, income that has already been earned, but which is not receivable until a specified date in the next accounting period. (2) In investments, the amount of interest that has been earned on a bond, but which is not yet payable to the bondholder as of the financial reporting date. TO TOP
The accrued income scheme applies to Treasury Stock, Building Society Permanent Interest Bearing Shares (PIBS) and so on. You are only taxed on the amount of interest earned over the period for which you hold the Treasury Stock, PIBs and so on. You may need to make an adjustment to the interest you actually receive to calculate the amount of interest liable to tax.
Interest that has been earned but not yet paid.
Income earned during an accounting period but not received or recorded by the end of the period.
the sum of: (1) earnings during a given period from services performed by the recipient and goods and other tangible property delivered to purchasers, and (2) amounts becoming owed to the recipient for which no current services or performance is required by the recipient.
The entry into the asset accounts of income earned, but not received, at a given date.