Difference between revisions of "Accrual basis"
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| − | [[Accrual basis]] ( | + | [[Accrual basis]] (hereinafter, the ''Basis'') is an accounting system that matches [[Fiscal Revenue|revenue]]s when earned with expenses that are incurred. |
==Definitions== | ==Definitions== | ||
According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
| − | :[[Accrual basis]]. | + | :[[Accrual basis]]. An accounting system that matches [[Fiscal Revenue|revenue]]s when earned with expenses that are incurred. |
==Related concepts== | ==Related concepts== | ||
Revision as of 13:52, 17 December 2018
Accrual basis (hereinafter, the Basis) is an accounting system that matches revenues when earned with expenses that are incurred.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Accrual basis. An accounting system that matches revenues when earned with expenses that are incurred.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
