accrual basis

American  

noun

1. a method of recording income and expenses in which each item is reported as earned or incurred without regard to when actual payments are received or made.

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Etymology

Origin of accrual basis

First recorded in 1930–35

Example Sentences

On an accrual basis, February is the seventh month in the 2020-2021 fiscal year.

From Washington Times • Mar. 15, 2021

October marked the third month in the 2020-2021 budget year on an accrual basis.

From Washington Times • Nov. 6, 2020

September marked the second month on an accrual basis of the fiscal year for Tennessee.

From Washington Times • Oct. 15, 2020

Tax analysis requires keeping books on a cash basis as well as an accrual basis, he says.

From Inc • Oct. 6, 2011

The Health and Hospitals Corporation's deficit could hit $1.48 billion next year, on an accrual basis.

From Reuters • Mar. 4, 2010