Accrual basis accounting - Definition

Tracks revenue and expenses when incurred and confirms to GAPP. Accrual Basis Accounting records an expense when a firm incurs debt that is to be paid at latter date. Cash basis accounting on the other hand records income and expenditure when cash is paid or received.

Terms near "Accrual basis accounting "

Accrual bond
Accrual of discount
Accrual Swap
Accrued benefit
Accrued dividend
Accrued expense
Accrued interest
Accumulated depreciation.
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