Accrual accounting

Roles that need it

• General Accountant
• Accounts Assistant / Bookkeeper
• Finance Graduate
• Business Controller
• FP&A Analyst

Skills it belongs to

• Accounting fundamentals (double entry)
• Period-end close and reconciliations

Related concepts

• Journal entryA journal entry records a transaction in the books with equal debits and credits, a date, accounts and a description. Manual journals posted at period end are a classic audit focus because they can bypass system controls.
• Month-end close (period-end close)The month-end close is the set of accounting tasks that finalise the books for a period: cut-off, sub-ledger closing, accruals, revaluations, reconciliations, intercompany matching, review of journals and reporting. It runs to a working-day calendar, and the year-end close adds audit and statutory work.
• General ledger (GL)The general ledger is the master record of all accounts of an entity, organised by the chart of accounts, from which the trial balance and financial statements are produced. Detailed transactions often sit in sub-ledgers that post summarised entries to it.

Sources

• Conceptual Framework for Financial Reporting, IFRS Foundation (external site) accessed 31 Oct 2026
• Directive 2013/34/EU (Accounting Directive), EUR-Lex (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.