--%>
Assignment Help - homework help

Define Accrual Basis of Accounting

Accrual Basis of Accounting: The foundation of accounting in which transactions are identified whenever they take place, regardless of when cash is disbursed or received. The revenue is recorded whenever earned, and expenses are recorded when obligations are formed (usually when goods or services are ordered or whenever contracts are signed).

   Related Questions in Finance Basics

  • Q : Define Federal Fiscal Year Federal

    Federal Fiscal Year (FFY): The twelve month accounting period of the federal government, starting on October 1 and ending the following September 30. For illustration, a reference to FFY 2013 means the period starting October 1, 2012 and ending at Sep

    		•
  • Q : Sizes of the MPC and MPS Normal 0 false

    Normal 0 false false

    		•
  • Q : Explain Legislative Information System

    Legislative Information System (LIS): An on-line system formed and employed by the Department of Finance to maintain existing information regarding all bills introduced in the Assembly and Senate for the current 2-year session, and fo

    		•
  • Q : Describe Form 9 Form 9 : It is the

    Form 9: It is the request by department for space planning services (example, new or extra space lease extensions, or renewals in non-institutional) and also evaluated by the Department of Finance.

    		•
  • Q : Describe Schedule 10 Schedule 10 :

    Schedule 10: (Supplementary Schedule of Appropriations): The Department of Finance control document listing all the appropriations and allocations of funds accessible for expenditure throughout the past, present, and budget years. Such documents are s

    		•
  • Q : Describe factors cause change in

    Normal 0 false false

    		•
  • Q : Financial Account & International fund

    Question: The Financial Account captures international fund flows due to i._____. ii. Briefly Explain? Answer: (i)    Purchase and selling of assets (ii)   The Financial Account captures th

    		•
  • Q : Change in supply of money Normal 0

    Normal 0 false false

  • Q : Define Price Increase Price Increase :

    Price Increase: Budget adjustment to reflect the inflation factors for particular operating expenses constant with the budget instructions from the Department of Finance.

    		•
  • Q : Which ratios would banker is interested

    Which ratios would banker is most interested while assuming whether to approve an application for short-term business loan? Illustrate.Bankers and other lenders employ liquidity ratios to distinguish whether to extend short-term credit to a firm

    		•