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 ...

In other words, a business that practices accrual accounting records all revenue as soon as it is invoiced and all expenses as soon as they are incurred, regardless of when the actual cash ...

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 ...