A way of recording revenues and expenses used by many government agencies, in which revenues are recognized during the accounting cycle in which the funds become available, and expenses are recognized during the accounting period in which the liability is created.
Related information about modified accrual basis accounting:
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Definition of modified accrual basis accounting: Method under which revenues are recognized in the period they become available and measurable, and ...
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Jun 29, 2012 ... Modified Accrual Basis accounting recognizes an economic transaction or event as revenues in the operating statement when the revenues are ...
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... cash-out basis; transactions are only recorded when money actually changes hands. Also Known As: Accrual Accounting, Modified Accrual Basis Accounting ...
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Sep 1, 2008 ... Question - 1. Under the modified accrual basis of accounting, revenues. Find the answer to this and other Homework questions on JustAnswer.
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