7 Ways to Honor Your Father. You may remember the story of Butch OâHare, the military hero we featured a few months ago. Well, several of our subscribers pointed us to who Butchâs father was â Edward J. âEddieâ OâHare. Eddie was a lawyer who worked with Al Capone. Details to the extent of this relationship are uncertain.
accrued revenue definition. Revenue that has been earned but not yet invoiced to the customer.
Accrued revenue is not recorded in cash basis accounting, since revenue is only recorded when cash is received from customers. The reverse of accrued revenue (known as deferred revenue) can also arise, where customers pay in advance, but the seller has not yet provided services or shipped goods. In this case, the seller initially records the received payment as a liability and later converts the entry into a sale when the transaction is completed.