Accruals Method of Accounting

AKA: Accrual Basis of Accounting; Accrual Concept; Accrual Method; Accrual System.
- …
Counter-Example(s):
- Cash Basis.
See: Cash-Basis Statement, Good Measure, Accounting System, Economic Transaction, Financial Statement, Cash Movement, Public Sector, Accrual-based International Standards for Accounting (IPSAS), Government Fiscal and Financial Reporting (GFSM).

References

(Dictionary.com, 2020) ⇒ https://www.dictionary.com/browse/accrual-basis
- QUOTE: a method of recording income and expenses in which each item is reported as earned or incurred without regard to when actual payments are received or made.

(Tiron-Tudor, 2017) ⇒ Tiron-Tudor A. (2017). Accrual Accounting. In: Farazmand A. (eds) Global Encyclopedia of Public Administration, Public Policy, and Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-31816-5_2271-1
- QUOTE: Accrual accounting is “a basis of accounting according to which all the transactions and events are recorded when they occur, without a relation with cash inflow or outflow. Therefore, the operations and events are recorded in the accounting records and recognized in the set of financial statements of the periods to which they relate. The elements recognized under accrual accounting are assets, liabilities, net assets/equity, revenue, and expenses”

(OAG-BVG, 2006) ⇒ 2006 May Status Report of the Auditor General of Canada: https://www.oag-bvg.gc.ca/internet/English/att_20060501aa_e_14423.html
- QUOTE: Accrual accounting refers to a method of accounting that records an entity's financial transactions and other economic events when they occur, rather than when the entity receives or pays cash or its equivalent. It records expenses as goods or services are consumed, and it records revenues in the period to which they pertain. It recognizes the life-cycle costs associated with long-lived assets.