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accrual basis vs accounting

accounting vs accrual basis

accrual basis and accounting both are nouns.

Word NounAdjectiveVerbAdverb
accrual basis Yes No No No
accounting Yes No No No
As nouns, accounting is a hypernym of accrual basis; that is, accounting is a word with a broader meaning than accrual basis:
  • 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
  • accounting: a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts
Other hypernyms of accrual basis include accounting system, method of accounting.
accrual basis (noun) accounting (noun)
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 the occupation of maintaining and auditing records and preparing financial reports for a business
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 accrual basis and accounting

Words related to "accrual basis"

Words related to "accounting"

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