Definition

Accrual basis

Accrual basis is in the context of accounting, practice in which expenses and income are accounted for as if they are earned or incurred, whether or not they have been received or paid. Antithesis of cash basis accounting.

Share it:  Cite

More from this Section

  • Factory mutual
    Factory mutual is an insurance company insuring only properties that meet high underwriting ...
  • Customs Duty
    Customs Duty is tax levied by the government on goods crossing their borders, usually ...
  • Syndicate
    Syndicate is a group of banks and financial institutions, which together contribute the ...
  • Bailing out
    Bailing out is in the context of securities, refers to selling a security or commodity ...
  • Pure no-fault plan
    Pure no-fault plan is the injured person cannot sue at all, regardless of the seriousness ...