Accounting method that records revenues and expenses when they are incurred, regardless of when cash is exchanged. The term "accrual" refers to any individual entry recording revenue or expense in ...

An accountant following accrual-based accounting procedures records all revenues and expenses immediately rather than waiting until payment has actually been sent or received. Cash accounting is ...

Cash basis accounting records when cash actually changes hands in a transaction, providing a real-time view of your financial position that reflects the actual cash flow of a business or individual.

This is referred to as the cash basis of accounting. However, the university uses the accrual basis of accounting and that means we record the revenue at the point of sale, which may be separate from ...