The-definition.com

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

  • 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 ...