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accrual basis

   Also found in: Legal, Financial 0.02 sec.
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Noun1.accrual basis - a method of accounting in which each item is entered as it is earned or incurred regardless of when actual payments are received or madeaccrual basis - 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
accounting system, method of accounting, accounting - a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts
cash basis - a method of accounting in which each item is entered as payments are received or made


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One startup decision that seems to cause entrepreneurs unnecessary consternation is selecting the right accounting method -- cash basis or accrual basis The primary purpose of the accounting method you choose is to calculate your business''s taxable income for federal (and state) income tax purposes One startup decision that seems to cause entrepreneurs unnecessary consternation is selecting the right accounting method -- cash basis or accrual basis.
Categories: Income Security, Accrual basis accounting, Data collection, Employee benefit plans, Employee retirement plans, Employees, Financial analysis, Financial management, Investment planning, Investments, Pension plan cost control, Pensions, Program evaluation, Retirement, Retirement benefits, Retirement income, Risk assessment, Risk management, Statistical data, Strategic planning, Surveys, PBGC Single Employer Pension Insurance Program
Revenue on the accrual basis is recognized when earned, while under the cash basis it is recognized when collected.
 
 
 
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