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Accrual accounting

• The process of recognizing, in the financial statements, revenue when it is earned and expenses as they are incurred regardless of when the cash changes hands

 
 Embedded terms in definition
 Cash
Expenses
Financial statement
 
 Related Terms
 

<< Accretion of a discount Accrual basis >>

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Nothing splendid has ever been achieved except by those who dared believe that something inside of them was superior to circumstance. Bruce Barton

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