Difference Between Unearned Revenue and Accrued Revenue
Some accounting concepts can be very tricky to understand as they seem to have almost the same meanings. To understand how much revenue a company incurs and what fraction of it makes it as the profit of the company, the concept of unearned and accrued revenue is important. While one is a liability of the company, the other is an asset.
Unearned Revenue vs Accrued RevenueThe main difference between unearned and accrued revenue is that unearned revenue is the money that a customer pays upfront to a company for a good or service not delivered yet.