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:Budget terms]] | [[category:Budget terms]] | ||
[[Category:Accounting]] | [[Category:Accounting]] | ||
Revision as of 01:42, July 14, 2009
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.