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Budget Counsel

A Reference for the Laws and Rules of the Congressional Budget Process

§015c. (CB) Cash Accounting

Cash Accounting


GAO Glossary of Terms and Definition (September 2005)

Cash Accounting

A system of accounting in which revenues are recorded when cash is actually received and expenses are recorded when payment is made without regard to the accounting period in which the revenues were earned or costs were incurred. (See also Accrual Accounting; app. III.)

[Pages 27-28]

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