Accrual basis
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.
