The basis of accounting in which inflows of resources are recognized as revenues when the right to them has been earned, and resource outflows are recognized as expenses when resources and services are used.

Accounting method whereby income and expense items are recognized as they are earned or incurred, even though they may not have been received or actually paid in cash. The alternative is cash basis accounting.

Income earned or expense incurred is accounted for even though the cash may not have been received or paid yet. This widely followed method of accounting helps give a long-term picture of a company. The other method of accounting is the cash basis of accounting in which revenues and expenses are accounted for only when cash is received or paid.

The basis of accounting whereby revenues are recognized when earned and measurable regardless of when collected; and expenses are recorded on a matching basis when incurred. All proprietary and fiduciary funds use the accrual basis of accounting.

A basis of accounting in which transactions are recognized at the time they are incurred, as opposed to when cash is received or spent.

a method of accounting in which each item is entered as it is earned or incurred regardless of when actual payments are received or made

The practice of record keeping by which income is recorded when earned and expenses are recorded when incurred, even though the cash may not be received or paid out until later.

Revenues are recognized in the period earned, and expenses are recognized in the period incurred in the process of generating revenues.

An accounting method in which income and expenses are accounted for as they are earned or incurred, although they may not have been received or paid yet.

An accounting method which records all income earned and expenses incurred as of the initial commitment, regardless of whether actual payment has occurred. (See "Cash Basis.")

is the method of recording revenues in the period in which they are earned, regardless of when cash is received, and reporting expenses in the period when the charges are incurred, regardless of when payment is made.

The type of accounting under which incomes are recorded when earned (regardless of when cash is actually received) and expenses are recorded when liabilities are incurred (regardless of when cash is actually expended).

The method of keeping accounts which shows all expenses incurred and income earned for a given period of time, even though such expenses and income may not actually have been paid or received in cash during the same period of time.

Method of accounting that recognizes revenue when earned, rather than when collected. Expenses are recognized when incurred rather than when paid.

Gross income is recognized when earned.

A method of keeping accounts that shows expenses incurred and income earned for a given fiscal period, even though such expenses and income have not been actually paid or received in cash.

The basis of accounting under which transactions are recognized when they occur rather than when they are paid.

A method of accounting where revenue and expenses are recognized as they are earned and incurred not when they are received or paid.

This is an accounting method for keeping track money paid or received in your business. With this method your books show that you've received or paid money when you're obligated to do so. If you're a business owner, you have to choose either the "Accrual Basis" as your accounting method, or the "Cash Basis" (see definition).

The method of accounting whereby revenues and expenses are identified with specific periods of time, such as a month or year, without regard to the date of receipt or payment of cash.

In accounting, a system of allocating revenue and expense items on the basis of when the revenue is earned or the expense incurred, not on the basis of when the cash is received or paid out.

An accounting method where income is reported when earned and expenses are reported when incurred. This is in contrast to cash-basis accounting, which reports income when it is actually received and expenses when they're actually paid.

A method of accounting practice which assigns (matches) costs and revenues regardless of when monies are received or payments are made. Typically, association dues for a membership year are received in a single payment. Accrual accounting reserves the payments in a single account and assigns one-twelfth of the payments to each month of the membership year. This has the effect of smoothing out the dues revenue each month rather than assigning the revenue in large amounts to the months in which it is received. Expenses may also be accrued as in the example of a particular meeting where the invoices for expenses associated with the meeting are not received prior to the end of the month in which the meeting occurred. Based upon management estimates, the missing expenses will be estimated and accrued to the month in which the meeting occurred. Proper accrual of revenues and expenses will enable management to report the correct financial results of the meeting in the month in which the meeting occurred.

A method of accounting where transactions are recorded as they occur regardless of when payment for that transaction is made or received Accrued Assets: Assets from revenues earned but not yet received. Accrued Expenses: A liability incurred during the accounting period for which payment has not been made. Accrued Income: Income earned during an accounting period but not received/recorded by the end of the period.

The recording of the financial effects on a government of transactions and other events and circumstances that have cash consequences for the government in the periods in which those transactions, events and circumstances occur, rather than only in the periods in which cash is received or paid by the government.

A method of accounting where income and expenses are recognized as they are incurred or earned. Cash may or may not have been received or paid.

An accounting method in which income and expense items are credited as they are incurred or earned, although they may not have been received or actually paid in cash. Cash Basis accounting is an alternative method.

Recording income as accounts receivable when earned and recording debts as accounts payable when they are incurred. Also called accrual basis accounting.

A method of accounting that shows expenses as incurred and income as earned even though such expenses and