Accrual Method - Law Dictionary Search Results
Home Dictionary Name: accrual methodaccrual method
accrual method : accrual basis at basis ...
basis
basis pl: ba·ses [-sēz] 1 : something (as a principle or reason) on which something else is established [the court could not imagine any conceivable for the statute] see also rational basis 2 : a basic principle or method ;esp : the principle or method by which taxable income is calculated NOTE: The Internal Revenue Code has set some limits on which method a taxpayer may use for figuring taxable income. For example, a corporation with gross receipts under $5,000,000 may be a cash-basis taxpayer. ac·cru·al basis : a method of accounting in which income and expenses are recorded in the period when they are earned or incurred regardless of when the payment is received or made called also accrual method cash basis : a method of accounting in which income and expenses are recorded in the period when payment is received or made called also cash method 3 : the value (as cost or fair market value) of an asset used in calculating capital gains or losses for inc...
accrual basis accounting
accrual basis accounting An accounting method that records sales, expenses or other events at the time they occur, rather than when cash changes hands ...
accrual
accrual 1 : the action or process of accruing [claim must be brought within two years of the date of ] 2 a : something that accrues ;esp : an amount of money that periodically accumulates for a specific purpose (as payment of taxes or interest) b : something that has accrued during a specified period ...
accrual accounting
accrual accounting Income is reported in the year it is earned, and expenses are deducted in the year they are incurred. ...
accrual basis
accrual basis see basis ...
accrual bond
accrual bond see bond ...
Methodic
Arranged with regard to method disposed in a suitable manner or in a manner to illustrate a subject or to facilitate practical observation well ordered as the methodical arrangement of arguments a methodical treatise...
Sentence method
A method of teaching reading by giving first attention to phrases and sentences and later analyzing these into their verbal and alphabetic components contrasted with alphabet method and word method See also phonics...
net worth method
net worth method : a method used by the Internal Revenue Service to detect and calculate tax evasion in which the change in a taxpayer's net worth is compared to reported taxable income taking into account living expenses, allowable deductions and exemptions, and nontaxable income ...
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