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.
Category: Banking & Finance
Previous: ← Accrual Accounting Convention
Next: Accrued benefits →
More from this Section
- URC 522
URC 522 is uniform Rules for Collections, ICC Publication No. 522, the set of rules that ... - First named insured
First named insured is the first name that appears on the declarations page of the policy ... - Medium-Term Guarantee Program
Medium-Term Guarantee Program— program conducted by the Ex-Im Bank in which commercial ... - Demand Draft
Demand Draft is a Bill of Exchange payable at sight or on demand. ... - Pure risk
Pure Risk involve only a chance of loss.There is only possibility of loss but no possibility ...