Examples of Modified accrual basis of accounting in a sentence
Modified accrual basis of accounting recognizes revenues in the period in which they become available and measurable.
In the fund financial statements, governmental funds are presented using the Modified- accrual basis of accounting.
Modified accrual basis of accounting requires the inclusion of short-term accruals of normal operating expenditures in the determination of operating results for a given time period.
Modified accrual basis of accounting is used by all governmental funds in the fund financial statements.
Modified accrual basis of accounting will be followed by the governmental funds and agency funds with revenues recognized when measurable and available and expenditures recognized when incurred, with the exception of interest on long- term debt, which is recognized when due.
Modified accrual basis of accounting is adopted where all expenses shall be recognized when incurred and reported in the financial statements in the period to which they relate while income is on accrual basis except for transactions where accrual basis except for transactions where accrual basis is impractical.
The third parcel is a proposed office building, which should begin construction after the hotels are in operation.
Modified accrual basis of accounting is followed by the governmental funds and agency funds with revenues recognized when measurable and available and expenditures recognized when the liability is incurred.
Modified accrual basis of accounting All governmental, agency and expendable trust funds are accounted for using the modified accrual basis of accounting.
Modified accrual basis of accounting and current financial resources measurement focus are used in connection with the governmental funds (GRaSPP).