GAO Glossary of Terms and Definitions (September 2005)

Accrual Accounting

A system of accounting in which revenues are recorded when earned and expenses are recorded when goods are received or services are performed, even though the actual receipt of revenues and payment for goods or services may occur, in whole or in part, at a different time. (See also Cash Accounting; app. III.)

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Accounts Receivable


Administrative Division of Funds