Difference between revisions of "Accrual Accounting"

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Calculating [[revenues]] or expenditures on the basis of when they are earned or encumbered,rather than when payment is received or made, respectively. Accrual revenues are considered earned when a claim for reimbursement is submitted. Accrual expenses are considered encumbered when a Purchase Order or contract is submitted.
 
Calculating [[revenues]] or expenditures on the basis of when they are earned or encumbered,rather than when payment is received or made, respectively. Accrual revenues are considered earned when a claim for reimbursement is submitted. Accrual expenses are considered encumbered when a Purchase Order or contract is submitted.
 
[[category:economics]]
 
[[category:economics]]
 +
[[Category:Accounting]]

Revision as of 13:11, 14 June 2008

Calculating revenues or expenditures on the basis of when they are earned or encumbered,rather than when payment is received or made, respectively. Accrual revenues are considered earned when a claim for reimbursement is submitted. Accrual expenses are considered encumbered when a Purchase Order or contract is submitted.