Accounting Basis

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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.
References in periodicals archive ?
Vice President ICAP and DG Accounts CGA shared a comprehensive presentation and said road map involving enhanced transactional and ultimate coverage (SAEs, EAEs, Autonomous bodies), setting the basis for budgeting, setting the basis for accounting, selection of accounting standards, business processes reengineering (pre-audit), determination of the implementation strategy, reassessment of legal framework, rules and regulations.
Due to the planned sale of Miratech, EDB ErgoGroup can no longer consider the companies in the Ukraine on a combined basis for accounting purposes.
7, Using Cash Flow Information and Present Value in Accounting Measurement, provides a framework for using future cash flows as the basis for accounting measurements.
The statutory accounting principles of the past did not always provide a consistent and complete basis for accounting and reporting," Neil D.