Examples of Accrual basis of accounting in a sentence
Accrual basis of accounting Sources of financing and expenditures are reported on the accrual basis of accounting.
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 records revenues in the period in which they are earned and become measurable; expenses are recorded in the period incurred, if measurable.
Accrual basis of accounting and matching principle In determining its net profit (loss), the Company takes into account all revenues and related expenses attributable to a given period, irrespective of the date of payment.
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.