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2. Basis of accounting - Wikipedia

   en.wikipedia.org/wiki/Basis_of_accounting

   In accounting, a basis of accounting is a method used to define, recognise, and report financial transactions. [1] The two primary bases of accounting are the cash basis of accounting, or cash accounting, method and the accrual accounting method. A third method, the modified cash basis, combines elements of both accrual and cash accounting.

3. What Is Financial Accounting? - AOL

   www.aol.com/financial-accounting-040000099.html

   Accrual basis vs. cash basis accounting "The accrual basis of accounting means that revenues are recorded when they are earned and expenses are recorded when they are incurred," said Pendergast ...

4. Accrual accounting in the public sector - Wikipedia

   en.wikipedia.org/wiki/Accrual_accounting_in_the...

   Accrual accounting differs from cash-based accounting in two main dimensions: [3]: 116 [5]: 390–391 [2] (1) Recording government transactions: Under cash accounting, income and expenditure transactions are recorded when the associated cash is received or paid. By contrast, under accrual accounting, income and expenditure transactions are ...

5. Cash method of accounting - Wikipedia

   en.wikipedia.org/wiki/Cash_method_of_accounting

   The cash method of accounting, also known as cash-basis accounting, cash receipts and disbursements method of accounting or cash accounting (the EU VAT directive vocabulary Article 226) records revenue when cash is received, and expenses when they are paid in cash. [1] As a basis of accounting, this is in contrast to the alternative accrual ...

6. Assets vs. Expenses: Understanding the Difference - AOL

   www.aol.com/finance/assets-vs-expenses...

   Accrual accounting recognizes expenses when they are incurred, regardless of when cash is received or paid. Cash basis accounting records revenues and expenses only when cash is received or paid.

7. Accrual - Wikipedia

   en.wikipedia.org/wiki/Accrual

   In accounting and finance, an accrual is an asset or liability that represents revenue or expenses that are receivable or payable but which have not yet been paid. In accrual accounting, the term accrued revenue refers to income that is recognized at the time a company delivers a service or good, even though the company has not yet been paid.