Accrual basis of accounting definition

Accrual basis of accounting means a basis of accounting that records:

Accrual basis of accounting means a method where revenues are recorded when

Accrual basis of accounting means a method where revenues are recorded when earned and expenditures recorded when they become liabilities notwithstanding that the receipt of the revenue or payment of the expenditure may take place in another accounting period.

Examples of Accrual basis of accounting in a sentence

• Accrual basis of accounting records revenues in the period in which they are earned and become measurable; expenses are recorded in the period incurred, if measurable.

• Consequently, those account codes which are used in either the proprietary or fiduciary funds (accrual basis) or the governmental column of the district-wide statements (accrual basis) were identified in the 2003 updated Chart of Accounts with the phrase [Accrual basis of accounting] at the end of the description of the account code.

• It is the determination of these costs by the allocation of direct costs and proration of indirect costs.(2) Accrual basis of accounting.

• Accrual basis of accounting refers to the accounting method in which expenses are recorded when incurred.

• Accrual basis of accounting has been used except for cash flow information.

More Definitions of Accrual basis of accounting

Accrual basis of accounting means the accounting method in which ex- penses are recorded when incurred, whether paid or unpaid, and income is reported when earned, whether re- ceived or not received.

Accrual basis of accounting. Means a method used in accounting which reports all revenue when the treatment center obtains an unqualified right to receive them. All expenses, purchases and other bills are recorded on the book of account when the treatment center incurs a clear obligation to pay them.

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

Accrual basis of accounting means the accounting method in which expenses are recorded when incurred, whether paid or unpaid, and income is reported when earned, whether received or not received.

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

Accrual basis of accounting means an accounting method which recognizes revenue when it is earned rather than when it is received, and expense is recognized when it is incurred rather than when it is paid.

Accrual basis of accounting means the basis of accounting