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accounting vs accrual basis

accrual basis vs accounting

accounting and accrual basis both are nouns.

Word NounAdjectiveVerbAdverb
accounting Yes No No No
accrual basis Yes No No No
As nouns, accrual basis is a hyponym of accounting; that is, accrual basis is a word with a more specific, narrower meaning than accounting:
  • accounting: a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts
  • accrual basis: a method of accounting in which each item is entered as it is earned or incurred regardless of when actual payments are received or made
Other hyponyms of accounting include control account, accounting entry, entry, ledger entry, credit side, debit side, cash basis, pooling of interest, audit, audited account, limited review, review.
accounting (noun) accrual basis (noun)
the occupation of maintaining and auditing records and preparing financial reports for a business a method of accounting in which each item is entered as it is earned or incurred regardless of when actual payments are received or made
a system that provides quantitative information about finances
a convincing explanation that reveals basic causes
a statement of recent transactions and the resulting balance
a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts
Difference between accounting and accrual basis

Words related to "accounting"

Words related to "accrual basis"

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