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Accounting Basis
(redirected from Basis of Accounting)

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Accounting Basis
Any of several systems for recognizing revenue and expenses for accounting purposes. In the United States, the two main bases for accounting are cash accounting and accrual accounting. The cash accounting basis recognizes revenue and expenses in the order in which they are received or made. The accrual basis, on the other hand, matches revenue with the expenses that generated that revenue. Using a different accounting basis can have tax implications.


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As a result of the shareholder's approval of the Plan of Final Liquidation, Handleman Company adopted the liquidation basis of accounting as of October 5, 2008.
The statement specifically requires governments to measure most derivative instruments at fair value in their financial statements that are prepared using the economic resources measurement focus and the accrual basis of accounting.
Fitzgerald, is presented fairly, in all material respects, in conformity with the basis of accounting described in note 1 of the counsel's statement, which is principally the cash basis, a comprehensive basis of accounting other than U.
 
 
 
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