accrual legal definition
verb (used without object), accrued, accruing. 1. to happen or result as a natural growth, addition, etc. 2. to be added as a matter of periodic gain or advantage, as interest on money. 3. Law. to become a present and enforceable right or demand. Origin of accrue. Definition of accrue. accrued. ; accruing. intransitive verb. 1 : to come into existence as a legally enforceable claim. 2a : to come about as a natural growth, increase, or advantage the wisdom that accrues with ageb : to come as a direct result of some state or action rewards due to the feminine will accrue to me — Germaine Greer. Accrual Accounting. Loading the player... What is 'Accrual Accounting'. Accrual accounting is an accounting method that measures the performance and position of a company by recognizing economic events regardless of when cash transactions occur. Accrual (accumulation) of something is, in finance, the adding together of interest or different investments over a period of time. It holds specific meanings in accounting, where it can refer to accounts on a balance sheet that represent liabilities and non-cash-based assets used in accrual-based accounting. 3 : to be periodically accumulated in the process of time whether as an increase or a decrease the accruing of taxes allowing the receivable interest to accrue. transitive verb. 1 : to accumulate or have due after a period of time authorized by law to accrue leave in the maximum amount of 90 days. The right that has been established and is backed by a legal authority and can demand a remedy to wrongs that have been committed. How To Respond To A Legal Demand Letter. How To File For A Petition For Writ Of Mandate. How To Write A Legal Guardianship Document. How To Divorce Your Parents. The term accrual also often used as an abbreviation for the terms accrued expense and accrued revenue that share the common name word, but they have the opposite economic/accounting characteristics. Accrued revenue: revenue is recognized before cash is received. Definition of accrue for English Language Learners. : 1  to increase in value or amount gradually as time passes : to grow or build up slowly. : 2  to come to or be given to someone. The definition of Accrual of cause of action in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is: See accrue. The concept is often important because a cause of action may “accrue” for the purposes of starting a statute of limitations running before any injury is apparent to the potential plaintiff. Related Legal Terms and Definitions: 1  Interest Accrual Rate Concept of Interest Accrual Rate in the context of Real Property A short definition of Interest Accrual Rate: The percentage rate at which interest accrues based on the terms of...
Accrual (accumulation) of something is, in finance, the adding together of interest or different investments over a period of time.