Business Terms and Jargon Explained

What is Accruals Basis

A method of recording transactions to relate them to the period when the exchange of ownership of the goods, services or financial asset applies. For example, value added tax accrues when the expenditure to which it relates takes place, but HM Revenue and Customs receive the cash some time later. The difference between accruals and cash results in the creation of an asset and liability in the financial accounts, shown as amounts receivable or payable.

Crown Copyright. Material taken from National Statistics website: www.statistics.gov.uk. Reproduced under the terms and conditions of the Click-Use Licence.

<- Go Back
Business Terms Home page

Search Jargon and Terms Database

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


Search Term   

CRN N122 Civil Court form Media kit
Petition European Patent Office Mesne Profits
Performers Rights Locked box Bankruptcy Order
Alpha geek Retained earnings Planchet
Joint Application ActiveX Judgement
Factoring Click Fraud Adjourn
Pre-Financing Utilities Company Sucre
Functionality Monetary Policy Devils Advocate
Res nulis Minority Interest ETD
HMAC Suspended sentence Accrued Interest
Self-Billing Notice to quit Institutional Capacity
N379 Civil Court form Maturity Woolf Reforms
RTGS SMTP NAIRU

Term created / updated 2007-01-19 00:19:32

Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms and jargon, and explain them in Plain English. Its very easy to comprehend. Learn to understanding and know your business jargon. This will keep you informed among your peers. Bookmark Your business dictionary.

Copyright © 2004-2019 Scopulus Limited. All rights reserved.