Accrued Income is when a company puts down income on its balance sheet before it is actually received. This is usually because the payment is frequent and regular. The reason the company can claim this as income in advance is because there is a very high probability that they will be paid. Accrued Income is found on the Balance Sheet under Current Assets.
To learn more about this concept and become a master at Financial Statement modeling, you should check out our FSM Modeling Course. Learn more here.
Module 1: Getting Started
Module 2: Fundamental Concepts
Module 3: The Income Statement
Module 4: Working Capital
Module 5: PP&E and Intangibles
Module 6: The Cash Flow Statement
Module 7: Debt & Interest Schedule
Module 8: Finishing Your Model
Module 9: Bonus