Accrual basis definition

Accrual basis means that basis of accounting under which costs and benefits are regarded as applicable to the period in which the liability for the cost is incurred or the right to the benefit arises, regardless of when invoiced, paid, or received.

Accrual basis means the recording of revenue in the period when it is earned, regardless of when it is collected, and the recording of expenses in the period when incurred, regardless of when they are paid.

Accrual basis has the meaning set forth in Section 3.1(c).

Examples of Accrual basis in a sentence

• Accrual Basis Under the accrual basis for recording financial transactions, revenues are recorded in the accounting period in which they are earned (rather than when cash is received).

• Safekeeping Account Account number Repo closing date Maturity of the agreement Repurchase Rate type Fixed rate or variable rate Accrual Basis To recalculate the interest amount on the collateral Settlement Transaction Type Indicator Defines transaction as repo or reverse repo.

• If an employee does not make an election to receive his/her vacation pay on a Pay Period Basis, the employee will be paid on an Accrual Basis for the upcoming vacation year.

• Accounting records shall be kept on a(n): (choose one) ☐ - Accrual Basis ☐ - Cash Basis Annual Reports.

• Trade Date Basis, Accrual Basis PIMCO employs a double entry accounting system.

More Definitions of Accrual basis

Accrual basis means the basis of accounting under which revenues are recorded when earned and expenditures are recorded when they result in liabilities for benefits received, even though the receipt of the revenue or payment of the expenditures may take place, in whole or in part, in another accounting period.

Accrual basis means that system of accounting

Accrual basis means the recording of the financial effects on a municipal corporation of transactions and other events and circumstances that have cash consequences for the municipal corporation in the periods in which those transactions, events and circumstances occur, rather than only in the periods in which cash is received or paid by the municipal corporation.

Accrual basis means the basis upon which, in transactions thereon, revenues are accounted for when earned or due, even though not collected, and expenditures are accounted for as soon as liabilities are incurred, whether paid or not;

Accrual basis means the recording of the financial effects on a municipal corporation of

Accrual basis means a method of accounting in which accounts and notes receivable are recorded in the regular books of account for the period in which the firm first has a claim of right to them.

Accrual basis means the average monthly remuneration in the enterprise sector, including distributions from profit for the month preceding the calculation, as announced by the President of the Central Statistical Office.