The-definition.com

Definition

Accrual Accounting Convention

Accrual Accounting Convention is an accounting system that tries to match the recognition of revenues earned with the expenses incurred in generating those revenues. It ignores the timing of the cash flows associated with revenues and expenses.

Share it:  Cite

More from this Section

  • Net exports
    Net exports is the net foreign spending on domestic goods services, equal to exports minus ...
  • Special drawing rights(SDRs)
    The financing by the IMF is measured in Special drawing rights(SDRs). The SDR is not a ...
  • Ad Valorem Duty
    Duty assessed as a percentage rate of the value of the imported merchandise is called ...
  • Bond rating
    Bond rating is a rating based on the possibility of default by a bond issuer. The ratings ...
  • Construction loans
    Construction loans is the short-term loans designed to fund the building of new structures ...