what are the types of accruals 
some types of accruals include accrued revenues these refer to the recognition of revenues that have been earned but not yet recorded in the company s financial statements the revenue received for a service would be recorded as an accrual in december when it was earned if a company provides a service to a customer in december but doesn t receive payment until january of the following year accrued expenses refer to the recognition of expenses that have been incurred but not yet recorded in the company s financial statements the expenses would be recorded as an accrual in december when they were incurred if a company incurs expenses in december for a service that will be received in january 3accrued interest refers to interest that s been earned on an investment or a loan but hasn t yet been paid it would be recorded as an accrual on the company s financial statements if the firm has a savings account that earns interest and the interest has been earned but not yet paid 