Accrual Method of Accounting definition

Accrual Method of Accounting means a method of accounting where revenues are reported in the period they are earned, regardless of when they are collected, and expenses are reported in the period they are incurred, regardless of when they are paid.
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Accrual Method of Accounting means a method of accounting in
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Accrual Method of Accounting means a method of accounting which recognizes revenues in the period when they are earned, regardless of
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Examples of Accrual Method of Accounting in a sentence

  • As do most governmental entities, the College uses the Modified Accrual Method of Accounting, in which revenues are recognized in the period they become available and measurable, and expenditures are recognized in the period the associated liability is incurred.

  • The accounts are prepared on historical cost convention (with the exception of certain land and plant & machinery which were revalued) based on Accrual Method of Accounting and applicable Accounting Standards and on Going Concern Basis in accordance with accounting standards and the relevant provisions of the Companies Act, 1956.

  • Chiasson, C.T. Abdallah, and M.M. Hayat, “Resource-Constrained Load Balancing Controller for a Parallel Database,” IEEE Transactions on Control Systems Technology, Vol.

  • All Revenues and Expense Items are reported based on the Accrual Method of Accounting.

  • Accrual Method of Accounting means that revenue is reported in the period when it is earned, regardless of when it is collected, and expenses are reported in the period in which they are incurred, regardless of when they are paid.

  • Oakton Limited, the Family Court’s internal auditors, provide the secretariat services for the Committee.The Audit Committee meets five times a year in February, May, July, August and November.

  • Pope, Arthur Desell and Greg Williams, “Management of Day-Ahead Congestion Rent Shortfall: Short List Topics,” NYISO Congestion Reduction Task Force, January 29, 2003.


More Definitions of Accrual Method of Accounting

Accrual Method of Accounting means a method of accounting in which (i) the Gross Proceeds for a Month shall be the net amount recognized and recorded during such Month in Pannonian's ledgers for sales of Hydrocarbon Production from a Project Well and (ii) the Production Costs for a Month shall be the amount incurred in connection with that Project Well and recorded during such Month in Pannonian's ledgers as production costs, with all such proceeds and costs being determined in accordance with Generally Accepted Accounting Principles ("GAAP") and Council of Petroleum Accountants Societies ("COPAS") guidelines and procedures.
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Related to Accrual Method of Accounting

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.