cash basis


Also found in: Thesaurus, Legal, Financial.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.cash basis - a method of accounting in which each item is entered as 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
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 made
References in classic literature ?
Of course, this only set back the day of reckoning and seduced us into spending more than we would have spent on a cash basis.
Most people work on cash basis or have to travel to another city for their banking needs.
Under the new tax law, manufacturers can now switch to the cash basis for tax reporting if gross revenue is under $25 million.
Gordon Haskett analyst John Inch, who maintains an Underperform rating and $10 price target on General Electric shares, estimates the stock could trade down to about $5 per share, assuming that GE Capital does not ultimately face insolvency, if the market were to value the stock increasingly on a free cash basis. Right now, it seems to him that most of the bullish analysts and investors are basing their upside views on a sum-of-the-parts valuation, Inch noted.
The government generated a fiscal surplus on a cash basis of e1/4147.2m in the first quarter of 2016 after posting a fiscal deficit on a cash basis of e1/419m in the respective three-months of 2015, the finance ministry said.
Cash basis. The pure cash basis method of accounting, while rare, represents another option for companies fitting the category of SPFs.
Most small businesses use accrual-basis reporting to run their companies but file their tax returns using the cash basis. To accommodate this common need, QuickBooks provides a somewhat limited tool that enables users to convert their accrual-basis reports to the cash basis, as follows.
The GFOA Award Program for Small Government Cash Basis Reports is happy to announce a first-time winner of the award: the City of Junction City, Oregon.
The "cash basis" scheme can be used by sole traders and other unincorporated businesses with an annual income of less than PS79,000 to simplify their accounting processes, saving both time and money.
Many small businesses and nonprofit organizations maintain their accounting records on a cash basis. Yet generalpurpose financial statements must be reported using the accrual basis, requiring accountants to convert the records.
"In the absence of that, MoFEP [Ministry of Finance and Economic Planning] used International Public Sector Accounting Standards (IPSAS) on a modified cash basis of accounting, except where stated," a confident Manibe told PAC members, chaired by Kom Kom Geng.