Accounting Dictionary - Letter C

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Cash accounting
(also called cash basis accounting) recognizes the effects of accounting events when cash is exchanged regardless of the time events occur. Revenues are recognized when cash is received and expenses are recognized when cash is paid. Cash basis accounting is not in accordance with generally accepted accounting principles (GAAP).
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