Modified accrual definition

Modified accrual means a basis of accounting where revenues are recognized when earned only so long as they are collectible within the period or soon enough afterward to be used to pay liabilities of that period and expenditures are recognized in the period in which they were incurred and would normally be liquidated;
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Modified accrual means a basis of accounting where revenues are recognized when earned only so long as they are collectible within the period or soon enough afterward to be used to pay liabilities of
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Modified accrual means a basis of accounting in which revenues and other financial resources are recognized in the accounting period when they become both measurable and available to finance expenditures of the fiscal period, and expenditures are recognized in the accounting period in which the fund liability is incurred, if measurable, except for unmatured interest on general long- term debt which should be recognized when due.
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Examples of Modified accrual in a sentence

  • Modified accrual basis of accounting recognizes revenues in the period in which they become available and measurable.

  • Modified accrual accounting recognizes revenues when they become measurable and available.

  • Modified accrual accounting measures cash and all other financial assets that can be readily converted to cash and, as such, provides a more detailed short-term view of general operations.

  • Modified accrual basis is a compromise between the cash and accrual systems used by most governmental units.

  • Modified accrual Appendix CTaxing authority, by type of local government This table lists the Oregon Revised Statute (ORS) that gives each type of local government its authority to im- pose ad valorem property taxes.

  • Modified accrual: The government funds financial statements are presented on the modified accrual basis of accounting.

  • For purposes of From 3115, ‘‘Application for Change in Accounting Method,’’ the designated number for the automatic accounting method change authorized by this paragraph (g)(5)(iv)(C)(3) is ‘‘98.’’ A change in method of accounting in accordance with this paragraph (g)(5)(iv)(C)(3) re- quires an adjustment under section 481(a).

  • In the fund financial statements, governmental funds are presented using the Modified- accrual basis of accounting.

  • Modified Accrual Basis Modified accrual basis accounting recognizes revenues (program income) when revenues are both measurable and available (collected) to liquidate liabilities of the current period; expenses are recognized when they are incurred.

  • Modified accrual accounting gives a complete framework for registering liabilities and expenditures;• full accrual accounting, which is similar to the accounting systems of commercial enterprises and covers all liabilities and assets.

Related to Modified accrual

  • Modified EDFR means a reference rate equal to the EDFR plus the EDFR Spread;

  • Reserve Penalty Factor means the cost, in $/MWh, associated with being unable to meet a specific reserve requirement in a Reserve Zone or Reserve Sub-zone. A Reserve Penalty Factor will be defined for each reserve requirement in a Reserve Zone or Reserve Sub-zone.

  • Interest Cover Ratio means, on each Measurement Date, the ratio of (a) EBITDA to (b) Net Interest Charged in respect of the Measurement Period ending on that Measurement Date;

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: Rating Base Rate Spread LIBO Rate Spread A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.805 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.920 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.030 % 1.030 % BBB by Standard & Poor’s Baa2 by Moody’s 0.140 % 1.140 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.250 % 1.250 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.250% as to any Base Rate Advance and 1.250% as to any LIBO Rate Advance.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the April 2025 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the October 2025 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.