ACCRUAL BASIS

Pronunciation (US): (GB):

Meaning:

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

Classified under:

Nouns denoting possession and transfer of possession

Hypernyms ("accrual basis" is a kind of...):

accounting; accounting system; method of accounting (a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts)

Antonym:

cash basis (a method of accounting in which each item is entered as payments are received or made)